DATE: February 19, 2019
TO: Mayor and City Council
FROM: Interim Director of Public Works
SUBJECT
Title
First Amendment to Lease and Assignment/Assumption of Lease with Briggs Resources, Inc. for Property at 21015 Skywest Drive
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RECOMMENDATION
Recommendation
That the City Council adopts the attached Resolution (Attachment II) authorizing the City Manager to negotiate and execute the following items: 1) a First Amendment to the Ground Lease with Briggs Resources, Inc., and 2) Assignment/Assumption of Lease to GBHWD, LLC.
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SUMMARY
In February 2018, Briggs Resources entered into a new lease with the City for the leasehold previously held by American Aircraft Sales. Briggs Resources is now in the process of developing plans for the site, which include office and hangar improvements. Two actions are required prior to finalizing improvement plans for review: an assumption and assignment of the lease to a new LLC created by Briggs Resources, and an amendment to the lease in order to remove a storm drain easement from the middle of the leasehold.
Council Airport Committee (CAC) Action:
Both items were approved by the Council Airport Committee during their January 10, 2019 meeting.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III Assignment Assumption & Consent Agreement
Attachment IV First Amendment