Discussion and possible action to approve a two-year lease extension as provided in the current lease agreement between F.D. Laurel Properties, LLC, as Lessor, and Webb County, as Lessee, for their Economic Development Department Office Site at a monthly rental of THREE THOUSAND FIVE HUNDRED TWO DOLLARS ($3,502.00) for the real property described at Lot 3, Block 232 (“1308 San Agustin”) together with the parking area located on the West 1/3 of Lot 1, Block 232, Western Division, City of Laredo, Webb County, Texas with said lease extension beginning December 1, 2024, through November 30, 2026, and authorizing the Webb County Judge to sign any all relevant document; and any other matters incident thereto. [Account #1001-1130-001-444100]

Issue: The Economic Development Department currently leases office space and associated parking lot from F.D. Laurel Properties, LLC with said property being located at 1308 San Agustin; however, said lease needs to be renewed.
 
Solution: The current lease agreement allows Webb County to exercise its option to extend the current lease for an additional two-year period beginning December 1, 2024, through November 30, 2026.
 
Result: Current lease agreement will be extended until November 30, 2026.

The Economic Development Department is currently leasing office space from F.D. Laurel Properties, LLC through November 30^th 2024. The lease allows for the lease to be extended for a two-year period at the same rental rate as the current lease.