Loading...
HomeMy WebLinkAboutContract 46439-R1CSC No. 46439-R1 FIRST RENEWAL FOR CITY SECRETARY CONTRACT NO. 46439 FORT WORTH MEACHAM. INTERNATIONAL AIRPORT HANGAR. AND GROUND LEASE AGREEMENT LEASE SITE 51S This FIRST RENEWAL TO CITY SECRETARY CONTRACT NO. 46439 ("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. FTW HOLDINGS, LLC ("Lessee"), a Texas Limited Liability Company, acting by and through DERRICK DENNIS, the duly authorized President of its Managing Member. RECITALS The following statements are true and correct and form the basis of this Agreement. WHEREAS, on or about February 16, 2015, Lessor and Epic Helicopters, LLC entered into City Secretary Contract ("CSC") No. 46439, a Hangar and Ground Lease Agreement for the lease and use of real property known as Lease Site 51-S and any improvements and facilities thereon ("Leased Premises") at Fort Worth Meacham International Airport ("Airport"). The Lease is a public. document on file in Lessor's City Secretary's Office and is incorporated herein for all purposes; WHEREAS, on September 26, 2023, at the request of Lessee, and through Mayor and Council Communications (M&C) 23-0822, City Council, authorized execution of CSC 46439 CA-1, a consent to assignment of the Lease from Epic Helicopters, LLC to FTW Hangar 51-S, LLC (Previous Lessee) and Previous Lessee assumed all of Epic Helicopters, LLC's leasehold interest and obligations under the Lease; WHEREAS", on or about October 15, 2024, Lessor and Previous Lessee, through Mayor and Council Communications (M&C) 24-0976, City Council entered into CSC 46439 A-1, Amendment No. 1 of the Lease to revise Exhibit B, to remove the mandatory improvement requirement of replacing the wood planks on the hangar doors and replace with concrete; WHEREAS, on or about October 15, 2024, at the request of Previous Lessee, and through Mayor and Council Communications. (M&C) 24-0876, City Council. authorized execution of CSC 46439 CA-2, a consent to assignment of the Lease fiom Previous Lessee to Lessee and Lessee assumed all of Previous Lessee's leasehold interest and obligations under the Lease; WHEREAS, the Lease provides for a ten (10) year initial term with three (3) options to renew for ten (10) years each; and Fort Worth Meachain ratemational Airport FTW HOLDINGS, LLC Renewal Option No. [ to CSC No. 46439 Page I of 6 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX WHEREAS, the Lessor and Lessee wish to exercise the first renewal term provided under the Lease, cormnencing on. March 1, 2025 and ending on February 28, 2035. 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 March 1, 2025 and expiring on February 28, 2035. 2. In accordance with the established Schedule of Rates and. Charges, this lease site of 124,015 square feet of {`mound Space at the current Lease rate of $0.47 per square foot will generate revenue of $58,287.05 per year or $4,857.25 monthly and 22,500 square feet of Hangar Space with an additional 6,900 square feet of Office Space at the current Lease rate of $5.50 per square foot, which will generate revenue of $161,700.00 per year or $13,475 per month. 3. All other ten-ns 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. 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] Fort Worth Meachamtnteenational Airport FTW HOLDNGS, LLC Renewal Option No. I to CSC A'o. 46439 Page 2 of 6 IN WITNESS '.WHEREOF, the parties hereto have executed this Agreement in multiples on this the day of , 2024. CITY OF FORT WORTH: Vateri ng on {Oct 23, 2014 I4:32 CDT) ` — By: By:-tW 4(0d V.M412:33coT3 On behalf of Valerie Washington Roger M. Venables Assistant City Manager Aviation Systems Director Date:10/23/2024 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 Valerie Washington, 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. �J .G,NV�'y't ND AND SEAL OF OFFICE this ,'0 4"'(- day 2024. Notary Public in and for th State f Texas d�il 13-2i1 1Y4��0`? aoF °nnq�t°a APPROVED AS`(1 �TQlRiV` ATTEST: AND LEGALITY: "y(1. B ��£'�Gr B dpann�6p54a .datt Candace Pagliara Jannette S. Goodall Assistant City Attorney City Secretary At - KC M&C: C27181. Approval Date: 02/10/2015 Fort Worth Meacham hitemational Airport FTW HOLDINGS, LLC. Renewal Option No. L to CSC No.46439 Page 3 of6 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX m 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: FTW HOLDINGS, LLC, a Texas limited liability company By: Airline Transport Professionals Holdings, Inc. a Florida corporation Managing Member ),By: Derrick Dennis President C,'12oi i STATE OF Qj3w?-A COUNTY OF TARP.ANT BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Derrick Dennis, 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 FTW Holdings, LLC and that s/he executed the same as the act of FTW Holdings, LLC for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this ,l'i day MIKAYLA GILLQRDON Notary Public, Georgia *= Coweta County ��: My Commission Expires October 02, 2028 Notary blic in and for the State of T4xa - 0 Geor6�(' Fort Worth Meacham International Airport FTW HOLDINGS, LLC Renewal Option No. 1 to CSC No. 46439 Page 4 of 6 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: FTW HOLDINGS, LLC, a Texas limited, liability company By: Airline Transport Professionals Holdings, Inc. a Florida corporation Managing Member By: Derrick Dennis President 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 Derrick Dennis, 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 FTW Holdings, LLC and that s/he executed the same as the act of FTW Holdings, LLC for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day , 2024. Notary Public in and for the State of Texas Fort '%"ortli Nfeachatn International Airport FTW HOLDINGS,LLC Renewal Option No. 1. to CSC No. 46439 Page 4 of 6 Mayor and Council Communications oftut :b! rrrteOO t d Oatt 1!!�= COUNCIL ACTIOtL Approved onn 2r1611(1t5 Create New From This M&C DATE: 211f MIS REFERENCE -C-2T189 LOG t lE: 55f iN EPIIw is O.: HELICOPTERS SiS CODE: C TYPE: CONSENT Ptl'BLEC NO H ARRIG.: SUBJECT:. ,Aui}bonze Exiecullbat eia Hangsramd in►rd lase, A r etneni sri it Epos HelecopEers; LLCr for Lease Site 5-IS at FortWarth Meacham International Airport (COUNCIL DISMICT2) RECOMMENDATION. It is recommended that the C tv Council authorize the execution of a Hangar and Ground Lease. AgreementWAh Epic Helicopters, LLC, for tease Site SI S at Fod Worth Meacham Internallonal Airport DISCUSSION: On December IS..2G14, the AlAaEo n D (Aviation) receiver! a proposal fr orn Epic Helicopters, l:F C ( is to enterintIa a HarWrand Ground Lease Agreement (Agreement) for Lease Site 51S at FartWorth Meacham international Airport. {14ftichamy tease Site 51S is compaisc of approximately 124,G15 squaw fed of ground space and irncludes a 29,406 squaw foot hangar: Staff requests the City Couna authorize the execution of a Hangar and Gmund Lease Agreement for an inilfai term of 30 years to. commericecn March I� 2015 and expare on Fefaruary 28, 2045_ Tine lea se VAII include we opbort to renamfor an additional 10 karts. As a part of the Agreement, Epic vAll be required to complete a rnurniaea of mandatorrn irnpmements to the facility requested by.Ai iatiicin as vielilas addifional phased imapravements included with Epic's proposaL These imprm etrmeiits ?All include but not be farmed to, pavement rehabilitationor replan emnt along vAh newWftg In one pc r]dng Eat, repair of hangar star tracks, repair of damaged areas of the hangar as%vIl as paurnli ng of Ilia exterlor of the hangar, Wld out of an additional 4010 square feet of €rffrce space and The eventual rehabliitation of the existing 6,90G square feet of office space_ These ar m atory improvernents vAl commence _Nifhin six months of the execubork of the Agreement and be cwroetedbased ca aschedule provided try Epic and approved byA.viation_ The total revenue received from tWm Agreement wig be at least $13,267-1 i0 per month, which is S159 2€ 5-00 a nua lly Theme mvenues am bid on a ihengar lay rate of $3:Ulf per squats foist, office, space rate of $7 GG per squarelbot and a ground rate of $0.35 per square foot, in accordanoe vAth the Aivialon DepartmerWe Schedule oT.Rafesand Charges and ain.appralsal sxnmpleted for tle taclfiilt�. Retntal:raffia.� sinaRi be ei jed is o n irocr a on October l st cif any+* year; based on tb-- up v rd percentage charge in the Consumer Price Index fctrthe Daflas,Fort+Arth Metropolitan area_ At no tfme.:hcyArever, W11 the adjusted rate exioeaaathat vitich is in the Schedule of Rates and Charges in effect t atthat time_ Vwe gear rate aSjustmerits vAl. apply forthe ground rate starting on October -1. 20M ar devery tt1h yeartheteafter The- hwQ&rbay rate W11 be adjusted every 10 years daiatg the lease term feed on an appraiisal of Ile t_adlfty. The pmpattyr is located in COUNCIL DISTRICT 2, Mapsco 4813_ Fort Worth Meacham international Airport FTW HOLDINGS; LIZ Renewal Option No.I to CSC No.46439 Page 5 of 6 FISCAL INFORMATIONXERTIFiCAT1+v N: The Financial Management Services IX for cerii€ies that the Aviation [)apartment is responsible far ttte codlectiolt and deporA of ftirDds due to the city_ Upon receipt, these ftmds wil I be deposited info the Municipal Airports Fund, hangar Revenue Amunt, vAilch has totat estimated revenue in Fiscal Year 2015 in the amount of $941,505.00 and year4o-date receipts in the amount of V17,615_dDD and Land Revenue Account wt tch has. total estimated revenue in Fiscal Year 2015 in the amount of st'i 06,479.©G and year-toAate recei pts in Me amount of $325,18 4:0 TO FundlAccountlCenters PE40 401052 0551101, S43.405.9ti PE40 491312 05551101 St t5.800-00 Submitted for Citv Uanaaer`s Office bw Orlainatina De€Dartment Head Additional Inkratation Contact. ATTACIiraaus 51S WC Exhibit Ddf (Publiip) Fort Worth Meacham International Aiq)ort FTW HOLDINGS, LLC Renewal Option No. I to CSC No. 46439 Page 6 of 6 FROM FundlAccourkVCenters Femando Cos.16 (8122) B.M Wetstead (54M) James, Burris (5403) t