Regular Items 8.
Legal Committee
- Meeting Date:
- 04/24/2025
COMMITTEE:
Legal
CONTACT:
Hessel Yntema
CHAIR:
Ed Heldenbrand
ACTION REQUESTED:
Consider recommending approval to authorize AEVEX to enter into a 5-year lease agreement beginning May 1, 2025, and ending April 30, 2030, for Bunker No. 1130, 1131, 1137, and 1144 at the Roswell Air Center. (Sanchez)
BACKGROUND:
Initiated by: Michelle Sanchez
AEVEX requests to enter into a 5-year lease for Bunker No. 1130, 1131, and 1137 consists of 1,560 square feet and Bunker No. 1144 consists of 2,080 square feet, located at the Roswell Air Center, commencing May 1, 2025, and ending April 30, 2030.
AEVEX requests to enter into a 5-year lease for Bunker No. 1130, 1131, and 1137 consists of 1,560 square feet and Bunker No. 1144 consists of 2,080 square feet, located at the Roswell Air Center, commencing May 1, 2025, and ending April 30, 2030.
FINANCIAL CONSIDERATION:
Tenant agrees to pay to the Landlord as rent for Bunker No. 1130, 1131, and 1137 the sum of $11,227.82, payable in 12 monthly installments of $935.65 and annual rent for Bunker No. 1144, the sum of $4,990.22, payable in 12 monthly installments of $415.85 for the first year of the lease. Thereafter, rent will be adjusted annually by CPI or 3%, whichever is greater.
LEGAL REVIEW:
The lease has been sent to the City Attorney for review.
BOARD AND COMMITTEE ACTION:
This is the first consideration of this item.
STAFF RECOMMENDATION:
Proceed as presented.