Regular City Council Meeting
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Resolution - Aviation:
Consider a resolution authorizing the Mayor to execute Amendment No. 2, and all related documents, to the Lease Agreement by and between the City of Lubbock and Host Marriott Services International, Inc., in connection with certain concessions offered at the Lubbock Preston Smith International Airport.
Host Marriott Services International, Inc. entered into a lease agreement with the City of Lubbock on February 25, 1999. The lease agreement was for a term of 17 years with the option to extend the lease agreement per its terms, until January 31, 2021. On January 26, 2021, Amendment No. 1 was executed to extend the terms for one (1) additional year and revise the rental schedule.
Due to the uncertainty and persistence of the effect of COVID-19 on operations and concession sales at Lubbock Preston Smith International Airport, both parties now agree to amend the lease agreement to extend the primary term of the lease for 2 additional one-year terms, expiring January 31, 2023, if so exercised. Thereafter, the parties shall have the option of extending the term of the lease agreement by 1 final additional year until January 31, 2024. However, to exercise this option, the parties must agree in writing no later than 6 months prior to the end of the 2nd extension year.
Airport Staff and Airport Advisory Board recommend Amendment No. 2 to the lease agreement with Host Marriott Services International, Inc.
Restaurant concessions generate revenue for the Airport.
Bill Howerton, Deputy City Manager
Kelly Campbell, Executive Director of Aviation
Airport Advisory Board
Resolution - Host
Amendment 2 - Host
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