HomeMy WebLinkAboutContract 53774-A2CITY SECRETARv53714 CO:' TRACT NO . -~
AMENDMENT NO. 2
CITY SECRETARY CONTRACT NO. 53774
FORT WORTH MEACHAM INTERNATIONAL AIRPORT
LEASE SITE 42N
This AMENDMENT NO. 2 ("Amendment") is made and entered by and between the CITYj OF
FORT WORTH ("Lessor"), a home rule municipal corporation organized under the laws of the State of
Texas , acting by and through Fernando Costa, its duly authorized Assistant City Manager, and AREA 51
HANGAR, LLC., ("Lessee "), acting by and through KENNETH BROADIE, its duly autho ized
President.
RECITALS
WHEREAS , On or about April 2 , 2020 , Lessor and Lessee entered into City Secretary Co tract
("CSC") No. 53774 ("Lease"), a thirty-year Ground Lease Agreement for use of real property kno n as
Lease Site 42N ("Leased Premises") at Fort Worth Meacham International Airport ("Airport").
WHEREAS, the Leased premises in the Agreement included 79,875 square feet of unimpr , ved
ground space;
WHEREAS, On or about October 7 , 2020 , a revised survey was conducted to exclude a con , rete
pad belonging to Lease Site 43N which was inadvertently included in the original survey; I
WHEREAS, the Lease required construction of Mandatory Improvements to begin withi six
months of the execution of the Lease and construction to be completed within eighteen mont s of
commencement of construction (Exhibit B of the Lease);
WHEREAS , On or about January 22, 2021 , Lessor and Lessee entered into CSC 53774 -1,
Amendment No. 1 to extend beginning of construction of mandatory improvements to 120-days;
WHEREAS , Lessor and Lessee now wish to amend the Agreement to reflect the change i the
square footage of the Lease Premises from 79 ,875 square feet to approximately 79,181 square fe 1et of
total ground space due to correct the inadvertent inclusion of the concrete pad belonging to Lease1 Site
43N in the original Lease ; and
WHEREAS, Due to the reduction in square footage of the unimproved ground space , Lessor
and Lessee also wish to amend the monthly rent provision in the Agreement to reflect the redf ced
amount of square footage that will be used in the calculation for monthly and annual rent each year]· and
WHEREAS , Les sor and Lessee wish to replace the existing "Exhibit A " to the Agreement with
a new "Exhibit A" that will reflect the new property description of the lease premises, which w II be
attached to this Amendment.
AREA 51 HANGAR, LLC.
Amendm ent No . 2 to C SC No . 53 774
Page I of6
OFFICIAL RE ORO
CITY SECRE RY
FT. WORTH T)( I
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of whic are
hereby acknowledged , Lessor and Lessee hereby agree as follows:
1.
The Agreement is hereby amended by deleting Section 1 of the Agreement in its entirety and
replacing it with the following:
1. PROPERTY LEASED.
Lessor hereby demises to Lessee 79,181 square feet of ground space ("Ground Space"),
known as Lease Site 42N ("Premises"), at Fort Worth Meacham International Airport
(" Airport"), as shown in Exhibit "A", attached hereto and made a part of this Lease for all
purposes.
2.
The Agreement is hereby amended by deleting Section 3.1.1 of the Agreement in its entire~y
and replacing it with the following:
3.1.1 Ground Rate
Lessee shall commence the payment of rent for the Ground Space on the Effective Date.
Lessee hereby promises and agrees to pay Lessor Forty-Seven cents ($0.47) per square foo , as
annual rent for the Ground Space, for a total of Thirty-Seven Thousand, Two Hundr~d
Fifteen Dollars and 07/100 ($37,215.07) per year. This amount is payable in equal montlily
installments of Three Thousand One Hundred One Dollars and 26/100 ($3,101.26).
3.
Exhibit "A" of the Agreement is hereby deleted in its entirety and replaced with the attach d
Exhibit "A " to this Amendment. I
4.
All other terms and conditions of the Lease shall remain in full force and effect.
5 .
The statements set forth in the recitals are true and correct and form the basis upon which L ssor
and Lessee have entered into this Amendment. The Lease is a public document on file in Lessor's City
Secretary's Office and is incorporated herein by reference for all purposes .
AREA 51 HANGARS, LLC.
Amendment No. 2 to CS C No . 53 774
Page 2 of6
6.
All other provisions and conditions of the Lease that are not expressly amended herein or
directly conflict with the provisions and conditions of this Amendment shall remain in full force a d
effect.
AREA 51 HANGARS, LLC.
Amendment No . 2 to CSC No . 53774
Page 3 of6
[Signatures on Pages to Follow]
IN WITNESS WHEREOF, the panies hereto have executed this Amendment in multiples o this
the /~-1/.. day of April , 2021.
CITY OF FORT WORTH:
By:r~~L-
Fernando Costa
Assistant City Manager
STATE OF TEXAS
COUNTY OF TARRANT
§
§
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on thi day
personally appeared Fernando Costa, known to me to be the person whose name is subscribed tCil the
foregoing instrument, and acknowledged to me that the same was the act of the City of Fort Wortli and
that he executed the same as the act of the City of Fort Worth for the purposes and consideration th I rein
expressed and in the capacity therein stated .
GIVEN ~Ne ER MY HAND AND SEAL OF OFFICE this
...... ~ ,2021.
/~ day
,,1111111,,, SELENA ALA ... ,\►"'°.~~u~~~ if:~·,;~~ Notary Public , State of Texas
;.0},,.y;i;:r.,)~§ Comm. Expires 03·31·2024 1,.,,, .... ~ .. ~ 2528
'1,/1 Of,,,,, Notary ID 13242
"'"
APPROVED AS TO FORM
AND LEGALITY:
By:~L~
Thomas Royce Hansen ,
Assistant City Attorney
M&C : J.,/ -0 2-, ~/
Date: d / u / 2 0 ,2--
~ I
AREA 51 HANGARS, LLC.
Amendm ent No . 2 to CSC No . 53 77 4
Page 4 of6
~~
i<r otary Public in and for the State of Texas
. \
OFF I Cl Al RE ·ORL I
CITY SECRE AR i
FT. WORTH TX t
Contract Compliance Manager:
By signing 1 acknow e-th am the person responsible for the monitoring and administration oft 1s
mr-a e suring all p formance and reporting requirements.
--<="~-:--
Barbara Goodwin
Name Printed
LESSEE:
AREA 51 HANGAR, LLC.
~~·
Kenneth Broadie, President
Date: ,A("J-ii CJ Z, 1-i
STA TE OF TEXAS
COUNTY OF -£~),r
ATTEST:
By:-------------
§
§
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this da
1
personally appeared Kenneth Broadie, known to me to be the person whose name is subscribed to the
foregoing instrument, and acknowledged to me that the same was the act of AREA 51 HANGARJ
LLC. and that he executed the same as the act of AREA 51 HANGAR, LLC. for the purposes anti
consideration therein expressed and, in the capacity, therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 9--,9,I day Af!-1L.. , 2021 . -~---
AREA 51 HANGARS, LLC.
Amendm ent No. 2 to CSC No . 5 3774
Page 5 of6
,,,111111,, GARTH D SHIPLEY ~\_t,'i-Y Pt;/,, • #l:]~)~'<t~ Nota ry Publ ic, State of Texas ;;.:._ 'P{.t~i Co mm . Exp ires 06-17-2024
1:-lfRt;~,,!" Notary ID 5154735
OFFICIAL RE ORD
CITY SECRE RY
FT. WORTH TX
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AREA SI HANGAR, LLC.
Amendment No . 1 to CSC No . 53774-EXHIBIT A
Page 6 of6
I.EASE EXHIBIT
IIROAOIE8 l£ASE
BONG ,. P.tRT or M[ACHAJ.1 AIRPORT "°°·
LOl B-1, Bl.OCK 1
VOUME A. PAGE 2445 N«:J
LOT IR, BlOCk 1
INSTR\JNOO MO. 02162'20061
P.R .T.C.T.
CITY Of FORT WORTH.
TARIWfT COUNTY, 1EXAS
Off,;,,-~ of,,. a,J Fort Wm<h, •=•
CITY COUNCIL AGENDA
RORT\\'ORTH
DATE: 41612021 REFERENCE **M&C 21-LOG NAME· 55FTW AMEND NO 2 AREA 51 HANG · R,
NO.: 0251 . LLC LEASE SITE 42N
CODE: PUBLIC
C TYPE: CONSENT HEARING: NO
SUBJECT: (CD 2) Authorize Execution of Amendment No. 2 to City Secretary Contract No. 53774, a
Ground Lease Agreement with Area 51 Hangar, LLC ., to Reduce the Ground Space by
694 Square Feet for Lease Site 42N at Fort Worth Meacham International Airport I
RECOMMENDATION:
It is recommended that the City Council authorize the execution of Amendment No. 2 to City
Secretary Contract No. 53774, a ground lease agreement with Area 51 Hangar, LLC., to reduce the
ground space by 694 square feet for Lease Site 42N at Fort Worth Meacham International Airport.
DISCUSSION:
On March 24, 2020, through Mayor and Council Communication (M&C 20-0201 ), City Council
authorized the execution of City Secretary Contract (CSC) 53774, a Ground Lease Agreement with
Area 51 Hangers, LLC (Area 51 ), for Lease Site 42N at Fort Worth Meacham International Airport.
The Area 51 ground lease agreement consists of 79,875 square feet of unimproved ground space.
Area 51 pays ground rent calculated at $0.47 per square foot, generating annual revenue in the su
of $37,541 .25 payable in monthly installments of $3,128.44.
On or about October 7, 2020, the Aviation Department received a revised survey of Lease Site 42N
that revealed a concrete pad included in the Area 51 lease site was already included in the adjacent
leasehold known as Lease Site 43N. The purpose of this M&C is to amend the Ground Lease
Agreement with Area 51 by reducing the ground space from 79 ,875 square feet to approximately
79,181 square. The new annual revenue generated from this amended ground lease will be
approximately $37,215.07, payable in monthly installments of $3,101.26.
Rental rates shall be subject to an increase on October 1st of any given year, based on the upward
percentage change in the Consumer Price Index for the Dallas-Fort Worth Metropolitan area . At no
time will the adjusted rate exceed the rate that is currently in the Schedule of Rates and Charges.
Five -year rate adjustments will be applied to the ground rate starting on October 1, 2025, and every
fifth year thereafter.
All terms and conditions of the lease are in accordance with City and Aviation Department policies.
Fort Worth Meacham International Airport is located in COUNCIL DISTRICT 2.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendation and execution of
the lease, funds will be deposited into the Municipal Airport Fund. The Aviation Department (and
Financial Management Services) is responsible for the collection and deposit of funds due to the Ci ,y.
TO I
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
FROM
Fund Department Account Project Program Activity Budget Reference# Amoumt
ID ID Year Chartfield 2
Submitted for City Manager's Office by_;_
Originating DeP-artment Head:
Additional Information Contact:
ATTACHMENTS
Fernando Costa (6122)
Roger Venables (6334)
Ricardo Barcelo (5403)
2019060 .01-MEACHAM BROAD I ES LEASE-EX-REVISION-2020-10-07.Rdf
Lease Site 42 MaR -Rdf