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Home My WebLink AboutContract 57807-R1CSC No. 57807-Rl FIRST RENEWAL FOR CITY SECRETARY CONTRACT NO. 57807 FORT WORTH MEACHAM INTERNATIONAL AIRPORT ADMINISTRATION BUILDING OFFICE LEASE AGREEMENT SUITE 320 This FIRST RENEWAL TO CITY SECRETARY CONTRACT NO. 57807 ("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, acting by and through Valerie Washington, its duly authorized Assistant City Manager, and ITI ENGINEERING, LLC ("Lessee"), a Delaware Limited Liability Company, acting by and through KEVIN LEBEAU its duly authorized VICE PRESIDENT. RECITALS The following statements are true and correct and form the basis of this Agreement. WHEREAS, on or about July 7, 2022, ITI Engineering, LLC. ("Lessee") entered into City Secretary Contract ("CSC") No. 57807, an Administration Building Office Lease Agreement, consisting of approximately 1,137 square feet of office space with an additional 204 square feet of balcony space for a total of 1,341 square feet of leased space (Premises), identified as Suite 320; and WHEREAS, the initial term of the Lease commenced on July 7, 2022, and expires at 11:59 PM July 6, 2025; WHEREAS, the Lease provides for three (3) options to renew at one (1) year each; and WHEREAS, the Lessor and Lessee wish to exercise the first renewal term provided under the Lease, commencing 12:00 AM July 7, 2025 and will expire at 11:59 PM July 6, 2026. NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Lessor and Lessee hereby agree as follows: The Lease is hereby renewed and extended for the first permitted renewal term of one (1) year, commencing at 12:00 AM on July 7, 2025, expiring at 11:59 PM on July 6, 2026. 2. In accordance with the established Schedule of Rates and Charges, the Premises, consisting of 1,341 square feet of Office Space, will be charged at the current Lease rate of $18.50 per square foot for this Renewal, and Lessee shall pay Lessor $24,808.50 (Twenty -Four Thousand, Eight Hundred Eight Dollars and 501100) per year payable in monthly installments of $2,067.38 (Two Thousand Sixty -Seven Dollars and 38/100). On October 1, 2025 and on October I' of each year Fort Worth Meacham International Airport ITI Engineering, LLC Renewal Option No I to CSC No. 57807 Page I of 7 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX thereafter during both the initial term and any renewal term, Lessee's rental rate shall be adjusted to comply with the rates prescribed for the Premises by Lessor's Schedule of Rates and Charges for the type or types of property at the Airport similar to the type or types of property that comprise the Premises. 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] Fort Worth Meacham International Airport ITI Engineering, LLC Renewal Option No. 1 to CSC No. 57807 Page 2 of 7 IN WITNESS WHEREOF, the parties hereto have executed this Renewal in multiples on this the 17th day of April , 2025. CITY OF FORT WORTH: AS,l,J , By: Valerie Washington (Apr 17, 2025 09:28 CDT) Valerie Washington Assistant City Manager Date: 04/17/2025 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. GIVEN UNDER MY HAND AND SEAL OF OFFICE this 17th day April , 2025. 1 lw&6v t), G� 6,� o,�pF<Y P68' AN111A D. CHRISP Notary Public .®. STATE OF TEXAS Angela`d. Chrisp (Apr 17, 2025 09. 0 CDT) Notary Public in and for the State of Texas s Notary I.D. 134812443 for My Comm. Exp. Mar. 18, 2028 0 4 �>iup o'�.�°fOgt �aadd APPROVED AS TO FORM ATTEST: AND LEGALITY: S1 o Joao e �� A OdaIl nEaoSpp Cw4ace TaAGr'aYa By: Candace Pagliara (Apr 17, Y25 09:03 CDT) By: Candace Pagliara Jannette S. Goodall Assistant City Attorney City Secretary KC M&C: 22-0491 Approval Date:_06/28/2022 Fort Worth Meacham International Airport ITI Engineering, LLC Renewal Option No. 1 to CSC No. 57807 OFFICIAL RECORD 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. 8c�,�c�,� �eec�i�rrrrL Barbara Good)Yin Real Property Manager LESSEE: ITI ENGINEERING, LLC By: II 0 ,.-� I Kevin LeBeau Date: STATE OF TEXAS 0 ATTEST: By: 9,7 / lV� BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Kevin LeBeau 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 ITI Engineering, LLC and that s/he executed the same as the act of ITI Engineering, LLC for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this / day pprr ) 12025. "'...o' I ANGEIA E. MCKAUGHAN oS Notary Pubite, State of Texas OF T Comm, Expires 03-28-2028 Notary ID 131507822 Fort Worth Meacham International Airport M Engineering, LLC Renewal Option No. I to CSC No. 57807 Page 4 of 7 Notaryiublic in and for the Stat of Texas EXHIBIT A THIRD FLOOR TENANT SPACE MEACHAV OFFICE RU11 D I N C, FORT VV091-H TX Fort Worth Meacham Intemational Airport ITT Engineering, LLC Renewal Option No. I to CSC No. 57807 Page 5 of 7 Hahnfeld Hoffer Stanford FCnt WLI tv. rk:!xa: 761 D"? OT�ca� ii'e :..: C1tti• ,.f �;vat '�V:ra'�, Te k:. CITY COUNCIL AGENDA FoR�rfl Create New From This M&C: DATE: 6r2812022 REFERENCE "M&C 22- 55F74 I -I ENGINEERING.. LLC LOG NAME: NO.: 0491 ADMIN BLDG- LEASE STE 320 CODE: v TYPE: :CONSENT PUBLIC NO HEARING: SUBJECT: (CD 2; Autrorize the Execution of a Three 'fear Administration Building Office Lease Agreement Including Three Cane -Year Renewal Options with ITI Engineering, LLC for Suite 320 at Fort'vVorth Meacham Intemational .Airport RECOMMENDATION: It is recommended that the Cry Council authorize the execution of a three -gear administration building office lease agreement, including three one-year renewal options, with ITI Engineering, LLC for Suite :320 located at Fart Aerth Meacham International Airport. DISCUSSION: On or about September 17. 2019 City of Fort Worrh (City) and Irvin Technologies, Inc (Current Lessee) entered into City Secretary Contract No. (CSC) 52820, an administration building office lease agreement {Current Lease} at Fort Alorth Meacham International Airport. The Curren! Lease set to expire on September 30, 2022 and included mree options to renew for one year each. On January 16. 2022, City received a notice of intent from the Current Lessee to exercise its option to renew the lease. On or about March 8. 2022, as the City was preparing for the renewal of the Current Lease, the City was informed by the Current Lessee that in the latter part of 2021, the Current Lessee was acquired by Shoreview Industries, LLC, (Shoreview) a Minnesota investment firm. and that Shoreview had formed a new company; IT) Engineering; LLC. {ITI Eng neer'ng) in which the Current Lessee's operations were to be under. Due to this entity change the City and Current Lessee. through mutual agreement. desire to terminate re Current Lease and the City intends to enter °nto a new lease agreement with ITI Engineering. as the new tenant. The City, and ITI Engineering now 'Mould like to enter into a new three (3 j year lease agreement for Suite 320. consisting of approximately 1,137 square feet of office space with an additional* 204 square feet of balcony space. In recognition of the initial office space base finish -out costs by Current Lessee as agreed upon in the Current Lease, from the effective date through September 30. 2022. ITI Engineering shall pay 'City monthly installments of v1,190.98 for an annual rental rate of $14.291.76 (Fourteen Thousand, Two Hundred Ninety -One and 761100 Dollars). Rental rates during this period are based on fifty percent (50%%), of S18.50 per square foot for the Office Space (1.137 square feet) and S18.50 per square foor. for the Balcony Space (204 square feet", Beginning October t, 2022 ITI Engineenng shall pay Lessor rent for Suite 32C, Third Level ? 1,341 square feet) based on a rental rate of $18.50 per square foot whichwill be payable in monthly installments of $2.067.38 (rounded), for an annual rental rate of £24.808.56 (Twenty -Four Thousand Eight Hundred Eight and 5,51100 dollars>. The initial term of this nev., lease shall commence upon execution of the agreement (Effective Date and expire at 11:59 PM three 3) ;ears following the Effective Date and will include three one-year options to renew ).ringing the total potential lease term to six (6j years. On October 1, 2023- and on October 1st of each yearthereafter in which this Lease is still in effect. Lessee's rental rate shall be adjusted to comply with ttae rates prescribed for the Premises by Lessor's Schedule of Rates and Charges it effect at the respective time. Fort'Aorth Meacham International Airport is located in COUNCIL D1 TRIC: T 2. Fort Worth Meacham International Airport ITI Engineering, LLC Renewal Option No. I to CSC No. 57807 Page 6 of 7 FISCAL INFORMATIONICERTIFICATION: The Director of Finance certifies tha: upon approval of the aacve recommendation and execution of the lease, Rinds 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 City- ID Year I (Chartfield FROM Ftmd Department Account ' Project I Program Activity Budget j Reference " Amount _ ID ID Year I (Chartfield 2) Submitted for City Manager's Office by: i }rICl111atlll(I Del]art111ent Head: Additional Information Contact: ATTACHMENTS Exhibit A.adf (Publici FID TA.BLE_xisx (CF-IN lniemati IT[ Enaineerina Form 1296.cdf =;CFW!nterna!i Signature: •^�:aa•-� Email' Barbara-Good,/:ins'fcrtvrorthtexas.gc•w Fort Worth Meacham International Airport ITI Engineering, LLC Renewal Option No. 1 to CSC No. 57807 Page 7 of 7 Lana Burghdoff (8018) Roger Ver.-ablEs (F402) Ricardo Barcelo (5403)