24-2224
Authorizing the City Manager to execute a lease agreement between the City of Laredo and the Adex Trading, Inc., for a property located at 2015 Pappas, constituting of approximately 97,183 square feet of land, including approximately 28,366 square feet of building space known as Building No. 1315. Lease term shall be for five years commencing on the date of execution. Tenant is hereby granted two options to extend this lease for an additional five years per option upon mutual written agreement between both parties. commencing on January 1, 2025 with four options, each equal to five years, upon mutual agreement of the parties. The monthly rent shall be $6,973.00 and will be adjusted annually according to changes in the Consumer Price Index (CPI); providing for severability; and providing for an effective date.
- Committee
- City Council
- Requested by
- Airport
- Introduced
- November 15, 2024
- On agenda
- December 20, 2024