Presenter/Contact
Presenter
Matthew Eckmann, Real Estate Manager
Contact Info
(830) 221-4089 - meckmann@nbtexas.org
Subject Header
SUBJECT:
Title
Approval of a land lease agreement between the City of New Braunfels and John Bordano for property located at the New Braunfels Regional Airport for the construction of a hangar.
Body
BACKGROUND / RATIONALE:
Mr. John Bordano (Lessee) has requested to lease a 120’ X 150’ (18,000 square feet) site at the New Braunfels Regional Airport in order to construct an approximately 6,000 square foot hanger.
The lease agreement will be for 30 years with all improvements constructed on the property reverting to the City of New Braunfels at the end of the term. The Lessee will have the option to extend the hanger lease for an additional two terms of five years each.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
City Plan/Council Priority: |
Strategic Priorities: Infrastructure - Use a variety of funding sources for operational and capital needs. |
FISCAL IMPACT:
The initial lease rate will be $3,600 annually with an escalation provision beginning at the end of the first year.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of this lease agreement.