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File #: 19-122    Name:
Type: Report Status: Consent Item Ready
File created: 2/5/2019 In control: City Council
On agenda: 2/25/2019 Final action:
Title: Approval of an Addendum to Lease Agreement between the City of New Braunfels and Sweetwater Aviation, LLC.
Attachments: 1. Addendum to Sweetwater Aviation Lease Final 2-19-19
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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 Presenter/Contact

Presenter

Matthew Eckmann, Real Estate Manager

Contact Info

(830) 221-4089 - meckmann@nbtexas.org

 

Subject Header

SUBJECT:

Title

Approval of an Addendum to Lease Agreement between the City of New Braunfels and Sweetwater Aviation, LLC.

 

Body

BACKGROUND / RATIONALE:

On February 1, 2013, the City of New Braunfels and Sweetwater Aviation, LLC entered into a land lease agreement at the New Braunfels Regional Airport which had a mis-calculation in the square footage of the leased premises. 

 

On September 2, 2016, the City of New Braunfels entered into a Public Utility Easement with New Braunfels Utilities which resulted in the partial loss of use of approximately 6,531 square feet of the leased premises.

 

The City of New Braunfels and Sweetwater Aviation, LLC have negotiated an Addendum to Lease Agreement which will amend the leased premises to 27,489.36 square feet, reduce the monthly rent amount to $450.60 for the 2018 lease year, add an additional 3-years to the lease term and credit Sweetwater Aviation, LLC $7,410.17 for previous payments made.  All other terms in the original land lease agreement dated February 1, 2013 remain in full force and effect.

                                          

By entering into this addendum, Sweetwater Aviation, LLC waives any and all claims against the City of New Braunfels.   

 

ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:

 

 

 

 

 

 

FISCAL IMPACT:

The credit of $7,410.17 will be applied to future rent payments until exhausted.

 

Recommendation

COMMITTEE RECOMMENDATION:

N/A

 

STAFF RECOMMENDATION:

Staff recommends approval of the Lease Addendum.