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Home My WebLink AboutContract 60893-A1CSC No. 60893-A 1 AMENDMENT NO. 1 CITY SECRETARY CONTRACT NO. 60893 FORT WORTH MEACHAM INTERNATIONAL AIRPORT LEASE SITE 11 C -13C This AMENDMENT NO. 1 ("Amendment") is dated as of the Effective Date (defined below) and is made and entered by and between the CITY OF FORT WORTH ("Lessor"), a home rule municipal corporation organized under the laws of the State of Texas, acting by and through Valerie Washington, its duly authorized Assistant City Manager, and FTW MIDFIELD, LLC., ("Lessee"), acting by and through JONATHAN M. WENRICH, its duly authorized Managing Member. RECITALS WHEREAS, On January 30, 2024, Lessor and Lessee entered into City Secretary Contract ("CSC") No. 60893 ("Lease"), a thirty (30)-year Ground Lease Agreement for use ofreal property known as Lease Site 11C-13C ("Leased Premises") at Fort Worth Meacham International Airport (" Airport"). WHEREAS, the Lease contains one ten-year renewal option; WHEREAS, the Lease requires construction of certain Mandatory Improvements referred to as Phase One Improvements, with such construction to begin within ten (10) months of the Effective Date of the Lease and construction to be completed within twenty-four (24) months of commencement of construction (Exhibit B of the Lease); WHEREAS, Lessee has requested a 270-day extension, or until September 1, 2025 to begin construction of the Phase One Improvements due to unanticipated storm water relocation and permitting; and WHEREAS, Lessor agrees that the, date by which Lessee must commence construction of the Phase One Improvements is extended until September 1, 2025. AGREEMENT 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 amended by deleting Section 4 .1.1 Phase One ImproveIT).ents of the Lease in its entirety and replacing it with the following: 4.1.1. Phase One Improvements -Lessee shall commen�e construction of the Phase AREA 51 HANGAR, LLC. Amendment No. I to CSC No. 53774- EXHIBIT A Page I of 4 One Iinproveulents no later than Septeinber 1, 2025. Phase One Im�i•ovements consist of three (3) 24,990 +/- square foot hangars and one (1) 5,000 +/- square foot office building, and associated apron and vehicle parlcing spaces. A Cei�tificate of Occupancy for the Phase One Improvements shall be obtained no later than twenry-four (24) inonths after consiruction has commenced. 2. All other provisions and conditions of the Lease that are not expressly amended herein or dii•ectly conflict with the provisions and conditions of this Amendment shall remain in full force and effect. Unless expressly defined herein, all initially capitalized terms used in this Amendment shall have the meanings given to such terms in the Lease. 3. The statements set forth in the recitals are true and correct and form the basis upon which Lessor and Lessee have entered into this Ainendment. The Lease is a puUlic document on file in Lessor's City Secretary's Ofiice and is incorporated herein by reference for all puiposes. [Signatures on Pages to Follow] IN WITNESS WHEREOF, the parties hereto have executed this Amendment in multiples on this the� day of January , 2025 (the "Effective Date"). CITY OF FORT WORTH: By :val_erie Washington (Jan 2, 202510:07 CST) Valerie Washington Assistant City Manager Date: 01/02/2025 STATE OF TEXAS COUNTY OF TARRANT § § By:� Roger M. Venables Aviation Systems Director 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 instrnment, 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 2nd day------January , 2025. ANGELA D. CHRISP Notary Public ST ATE OF TEXAS Notary I.D. 134812443 My Comm. Exp. Mar. 18, 2028 APPROVED AS TO FORM AND LEGALITY: By: c,0<£.��fit ?,�f lfft1i Candace Pagliara Assistant City Attorney M&C: 24-0063 (Original M&C) Date: 01.23.2024 Notary Public in and for the State of Texas ATTEST: �1 � By: _U __________ _Jannette S. Goodall City Secretary Rp/;P.§ Coiitt•act Compliance Manager: By signing I acicnowledge that I am the persoii responsible for the tnonitoring and administ�ation of this contract, including ensuring all perfoi•mance and reporting requirements. a��aa� Barbara Goodwin Real Property Manager L�SSEE: FTW MIDFI�LD LLC By: _ �., .� Jonathan M. Wetu'ich Managing Meinber Date: 12/16/2024 STATE OF �T'��cx virginia COLTNTY OF Fairfax TASNIEF HAQUE Virginia BEFORE ME, the undersigned authority, a Notaiy Public in and for the State of �'��on this day personally appeared Jonathan M. Wenrich, known to me to be the peison whose name is subscribed to the foregoing instruinent, and acicnowledged to ine that the saine was the act of FTW MIDFIELD, LLC. and that he executed the sarne as the act of F'TW MIDFIELD, LLC. for the purposes and consideration therein expressed and, in the capacity, therein stated. GIVEN LINDER MY HAND AND SEAL OF OFFICE this 16th day December , 2024. \\\\�\O�a\�E1�LITHI'�/A,/`'9/// � �rr .o, = 3 ' ''' = _�. N ��'= �� ; ; �^� . � ,m : ///�iq�/�ppp�q�l P\��\\\\\\ REGISTRATION NUMBER 8075605 COMMISSION EXPIRES January 31, 2027 ATTEST: By: Jonathan Michael Wenrich � TASNIEF HAQUE 12/16/2024 Notaiy Public in and for the State ofx'T�1c��xVirginia Notarized remotely online using communication technology via Proof. Official site of the City of Fort Worth, Texas CITY COUNCIL AGENDA Create New From This M&C DATE:1/23/2024 REFERENCE NO.: **M&C 24- 0063 LOG NAME: 55FTW GROUND LEASE AGRMNT 11C - 13C, FTW MIDFIELD LLC CODE:C TYPE:CONSENT PUBLIC HEARING:NO SUBJECT: (CD 2) Authorize Execution of a New Ground Lease Agreement Including Mandatory Improvements with FTW Midfield LLC for Lease Sites 11C - 13C at Fort Worth Meacham International Airport RECOMMENDATION: It is recommended that the City Council authorize execution of a new ground lease agreement including mandatory improvements with FTW Midfield LLC for Lease Sites 11C - 13C at Fort Worth Meacham International Airport. DISCUSSION: On or about January 25, 2023, Aviation staff received a request from FTW Midfield LLC (FTW Midfield) to lease ground space known as 11C - 13C as part of the Midfield Development Project at Fort Worth Meacham International Airport. The total amount of ground space for Lease Sites 11C - 13C is approximately 342,863 square feet. FTW Midfield will pay a ground rate of $0.47 per square foot. Revenue generated from the ground lease is approximately $161,145.61 annually, paid in monthly installments of approximately $13,428.80. Rates are in accordance with the Aviation Departments current Schedule of Rates and Charges. The mandatory improvements for Lease Sites 11C - 13C will be constructed in two phases. Phase One will include construction of three hangars approximately 24,990 square feet each plus a 5,000 square foot office building. Phase Two will include a 29,920 square foot hangar. Construction timelines will be in accordance with Aviation Leasing Policy and agreed upon by all parties in the ground lease agreement. Hangars, aprons, ramps and other auxiliary areas will be constructed in compliance with the Aviation Minimum Standards. The term of the new ground lease will be thirty (30) years, effective upon execution of the ground lease agreement, with one ten (10) year option to renew, bringing the lease term to a total of forty (40) years. All terms and conditions of the lease agreement will be in accordance with City of Fort Worth and Aviation Department policies. 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 current in the Schedule of Rates and Charges. Five- year rate adjustments will be applied to the ground rate starting on October 1, 2029, and every fifth year thereafter. ADVISORY BOARD APPROVAL: On October 19, 2023, the Aviation Advisory Board voted to recommend that the City Council approve the ground lease agreement. 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 Page 1 of 2M&C Review 1/26/2024http://apps.cfwnet.org/council_packet/mc_review.asp?ID=31771&councildate=1/23/202 4 Fund Department ID Account Project ID Program Activity Budget Year Reference # (Chartfield 2) Amount Fund Department ID Account Project ID Program Activity Budget Year Reference # (Chartfield 2) Amount Financial Management Services) is responsible for the collection and deposit of funds due to the Cit y. TO FROM Submitted for City Manager's Office by:Dana Burghdoff (8018) Originating Department Head:Roger Venables (5402) Additional Information Contact:Ricardo Barcelo (5403) ATTACHMENTS 55FTW GROUND LEASE AGREEMENT 11C - 13C FTW MIDFIELD LLC.pdf (Public) FID TABLE.xlsx (CFW Internal) Form 1295 Certificate 101114738 - FTW Midfield LLC.pdf (CFW Internal) Page 2 of 2M&C Review 1/26/2024http://apps.cfwnet.org/council_packet/mc_review.asp?ID=31771&councildate=1/23/202 4