HomeMy WebLinkAboutContract 43603-R1 CSC No. 43603-R1
FIRST RENEWAL
FOR CITY SECRETARY CONTRACT NO. 43603
FORT WORTH MEACHAM INTERNATIONAL AIRPORT
GROUND LEASE AGREEMENT
LEASE SITE 41S
This FIRST RENEWAL TO CITY SECRETARY CONTRACT NO. 43603
("RENEWAL") is made and entered into by and between the CITY OF FORT WORTH
("Lessor"), a home rule municipal corporation organized under the laws of the State of Texas and
GOFF CAPITAL MANAGEMENT,LLC("Lessee"),a Texas limited liability company,acting
by and through JOHN C. GOFF its duly authorized Chief Executive Officer, each individually
referred to as a "party" and collectively referred to as the "parties."
RECITALS
The following statements are true and correct and form the basis of this Agreement.
WHEREAS, on or about January 4, 1983,Burnett Aviation Co.,Inc. ("Former Lessee")and
the Lessor entered into City Secretary Contract ("CSC") No. 12887, a thirty (30) year Fixed Base
Operator Lease for unimproved ground space known as Lease Sites 40S and 43S at Fort Worth
Meacham International Airport ("Airport"), consisting of a total of 236,778 square feet of ground
space expiring on January 3,2013 ("Previous Lease"); and
WHEREAS,Former Lessee requested to divide Lease Sites 40S and 43S into three individual
lease tracts to be known as Lease Sites 39S,40S,and 41S (formerly 43S); and
WHEREAS,on or about September 11,2012,through Mayor and Council Communications
(M&C)No.C-25812,City Council authorized Lessor to enter into a certain Ground Lease Agreement
(CSC 43603) with Former Lessee, dated September 14, 2012, (the "Lease"), for the use of real
property consisting of 92,621 square feet of ground space, including a 22,950 square foot hangar
known as Lease Site 41S and any improvements and facilities thereon ("Leased Premises") at the
Airport; and
WHEREAS,the Initial Term of the Lease expires on January 3,2023 with three(3)options
to renew at ten (10)years each with a requirement that upon exercising the first renewal, a hangar
rate will be added to Lessee's monthly rental payment obligation; and
WHEREAS, On or about June 28,2022,City Council,through M&C 22-0494, authorized
a certain Consent to Assignment (CSC 43603-CAI) dated July 28, 2022, which approved an
assignment of the leasehold interest in Lease Site 41S from Former Lessee to Lessee; and
Fort Worth Meacham International Airport OFFICIAL RECORD
Goff Capital Management,LLC
Renewal option No.I to CSC No.43603 CITY SECRETARY
Page I of 6
FT. WORTH, TX
WHEREAS, the Lessor and Lessee now wish to exercise the first renewal term provided
under the Lease.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged,Lessor and Lessee hereby agree as follows:
1. The Lease is hereby renewed and extended for the first permitted renewal term of ten (10)
years, commencing on January 4,2023 and expiring at 11:59 PM on January 3,2033.
2. In accordance with 3.2.3."Ten-Year Adjustments,Hangar Rate,"in the Lease,the new hangar
rate of$5.50 per square foot or One Hundred Twenty-Six Thousand Two Hundred Twenty-Five
Dollars and 00/100 ($126,225) per year, payable in monthly installments of Ten Thousand Five
Hundred Eighteen Dollars and 75/100 ($10,518.75),will be added as part of the rent under the Lease
in addition to the already established ground rate.The hangar rate is commensurate with the appraised
fair market value as reported by a licensed third-party appraiser.
3. All other terms and conditions of the Lease shall remain in full force and effect. The
statements set forth in the recitals above are true and correct and form the basis upon which Lessor
and Lessee have entered into this Agreement. The Lease is a public document on file in Lessor's City
Secretary's Office and is incorporated herein by reference for all purposes.
4. All other provisions and conditions of the Lease that are not expressly amended herein or
directly in conflict with the provisions and conditions of this Amendment shall remain in full force
and effect.
[Signature Pages Follow]
IN WITNESS WHEREOF, the parties hereto have executed this Agreement in multiples on
this the day of ,2022.
Fort Worth Meacham International Airport
Goff Capital Management,LLC
Renewal Option No.1 to CSC No.43603
Page 2 of 6
CITY OF FORT WORTH:
Dghg Bu(cl7doff
By:Dana Burghdoff ct 18,2022 17:04 CDT)
Dana Burghdoff
Assistant City Manager
Date: Oct 18, 2022
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on
this day personally appeared Dana Burghdoff, 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 the City
of Fort Worth and that he executed the same as the act of the City of Fort Worth for the purposes
and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day
,2022. Oct 18, 2022
Iv
„RrSELENA ALA
Notary Public
• STATEOF TEXAS
jFa'�P Notary I.D.1Mar.3528
My Comm.Exp.Mar.31,2024
Selena Ala(Oct 18,2022 18:35 CDT)
Notary Public in and for the State of Texas
APPROVED AS TO FORM ATTEST:
AND LEGALITY:
e7Gl�'l�'1����c) GDOG�GIGG
By: By: Jannette S.Goodall(Oct 19,2022 08:52 CDT)
Thomas Royce Hansen Jannette S. Goodall awn
Assistant City Attorney City Secretary a-FORTAl 0 �a
00
o o 00 �p��
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M&C: C-25812 *o ��
Approval Date: 09/11/2012_ �a °°°°°°°°°°°° Icy
�atl nEXASbap
Fort Worth Meacham International Airport
Goff Capital Management,LLC OFFICIAL RECORD
Renewal Option No.1 to CSC No.43603
Page 3 of CITY SECRETARY
FT.WORTH, TX
Contract Compliance Manager:
By signing, I acknowledge that I am the person responsible for the monitoring and
administration of this contract, including ensuring all performance and reporting requirements.
Barbara Goodwin
Real Property Manager
LESSEE: ATTEST:
GOFF CAPITAL MANAGEMENT LLC
By: By:
Date:
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME,the undersigned authority, a Notary Public in and for the State of Texas, on
this day personally appeared JOHN C. GOFF 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
GOFF CAPITAL MANAGEMENT,LLC and that s/he executed the same as the act of GOFF
CAPITAL MANAGEMENT,LLC for the purposes and consideration therein expressed and in
the capacity therein stated.
IVEN UNDER MY HAND AND SEAL OF OFFICE this XL day
2022.
:• ;!"Y`s!��;; CINDY KAY MILLER
•: :* My Notary ID#IMW828 Notary Public in and for the State of Texas
+� q
Expires ems'J,2025
Fort Worth Meacham International Airport OFFICIAL RECORD
Goff Capital Management,LLC
Renewal Option No.1 to CSC No.43603 CITY SECRETARY
Page 4 of 6
FT.WORTH, TX
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LISM S1ia 40S grid A3S oans10nq of a LaUI of 2x779 sAuane lfeel4A 4jrDurid space of land on whIrh
a 141 4M and 22.9W so}r a re iout ha nq ar, res peac N", wffe on ns tnuclad 05C Fiot 12 ae 7 oon ta" a
311}&v Mast 4erm Khx will! egwe on Awuor'3,2G13.
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hdMrdual least tracts as be krx+m as Ltasa Sits NcS� 40S arrd d I5 Iraff erik 43S7 The Amatlon
[bep,arannL has agreed Le tht dYaPore d the leas-uad as It wll prowdt Ior oorrorlaed eonnamc
gowdh and deo!%pnmm on Lha comic fmd-or ft b,rpm
The k:ast= A.9reemtnt for Ltasa S,Le 313S will recMre mandmorlr Imprao�Is as Um sll-cunsins 431
23.042 so}rare reeL&i ondrotbped @round spar. k-i deytlaplrig d-d sta. 9umeth proem s In
onnstrW a 6 SW sq Liar t Inot hangar on tho Brit. Thfi Ftast wtI prco�,kde tar a 3D}mar Itrm wpdh cne
ciptlrin as renew for an ad d Ia to A 10 yLasr s The r nra ai w m of th a Fetiapa wil I c trn mtrx e Am a N 4,
Z 13•and wtI expre Jandark 1 21143. 1n 2oord2nm wM1 dve oumeri 5 Lined r,le cd Fisits and
Chugcs, this (east sloe will gr-neraLe reYwoe In tht rrauntai 56 921.34 annLiadty ar n the arrpxrnt
or;743A5 monthly at a-gror.wd ralt nl SO ZF ptr squara iooi.
7he k:a se Aq reemt nts liar 4 DE a nd 415 r,11 be for s I Nks aka 20 do oft pod Lea sa S1I t 2JDL5 wi 1
ownslsL of 111.194 square Iml oat qrziix�d space w1Lh a 14.4DD sop-are bol.Mrigz. Ln;ize Ste 41S will
ownslst Dr 92A21 skrarc "I a"s res sager pa with a ZZ9SD 6D&haNar. Each ars Lhr
Feasts will pr Ode,%x a 10"z la nn w kn ftae options to ran tei %ran add banal *0 Lea rs ea.&L The
viral gcn-i or the Frkrrs wd oomrianoc January 4,M3 and%aril expire JanwrV 36 2423.
In ar3cordance%nth tiro 431rrnnI SehacMe z1 Raba and GhaWs. Lease Ske 4+7S wlI gerrtrze
rNarum in tha amom or#3i},M M rinuadk or in the amoufa cd 52.5131.E17 nKnthN at 2.9round ra1a
or SDJ27 per s�War+e bat. Lease Sri 41S will generate wAnue in the a rtiysL or US 007 67 amuale
or in tht ww n t rN&31M 6fF m DnMly al a!gra"r a la od SD.2 7 per sq.ura txt
Etn rg Um in I la I ierm io r a ac.h In asr, ran tal r a Ius sha■be s u W as an I ntreast c:Ye rye per to r t 1 a ix
rtr r± u per,and peroo niage ash a W d a rrV, I n dw C-n s umer Pnoa I notes- 10 r tho pwic d s r x the I asp
ad I yes Lm to 1. R t nral rafts dumg tha Nirsl It nn,7rril I a1 so be s Ld�Lxx as a g rou n d raft ad.�rx eve rk
Fort Worth Meacham International Airport
Goff Capital Management,LLC
Renewal Option No.1 to CSC No.43603
Page 5 of 6
dr't yEzs The gruxd ram 5M1 2ui5mmc2II%r be e4ual to!.Lhen urrm1 raLes.peuated
by thr+Sck%JUa a Res and Charges,
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the IYK rt w%W Itrms a Ian@2r ra a cam persumlc wM die appraised F21r M2rkg Value ON tit
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each awn21 ref}a'ial LLrm or Ux Icaso%the harmsr raft shad autorru3call} be adjus1ad 4o equai
tha then 2W2sM Far Uwk t Yate. as prft crt d by tFt S&Rcbla 431 Fps and GNuges W die
by pe or "es cd prap"o t Um A rp oR wTAm Ia d7t ty pb or Wns-Y prgx"r th 21 room pn se dv
hangar.
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AT FACH EXITS
15 SFrW 9 URN ETT AV LAY If)N�-Kh b t A. IpmbrtI.
Fort Worth Meacham International Airport
Goff Capital Management,LLC
Renewal Option No.1 to CSC No.43603
Page 6 of 6