SUBJECT
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Authorizing the City Manager to execute a lease agreement between the City Of Laredo, as Lessor, and MPL Wireless Solutions, LLC DBA RZ Communications, as Lessee, for the lease of Building No. 146 at Laredo International Airport, located at 4601 Maher Ave, Laredo, Texas, consisting of approximately 5,632 square feet of building space on a 21,217 square feet tract of land, for a term of five (5) years commencing on May 1, 2025, and terminating on April 30, 2030, with two (2) options to extend for five (5) years each. Initial annual rental amount shall be thirty-eight thousand five hundred eighty-two dollars and forty cents ($38,582.40), payable in equal monthly installments of three thousand two hundred fifteen dollars and twenty cents ($3,215.20), with rent subject to annual consumer price index (CPI) adjustments and fair market value adjustments every five years.
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PREVIOUS COUNCIL ACTION
December 7, 2009, Ordinance No. 2009-O-220
August 6, 2018, Ordinance No. 2018-O-110
BACKGROUND
MPL Wireless Solutions, LLC DBA RZ Communications has been a tenant of the Laredo International Airport since 2018 and is in good standing.
RZ Communications has notified the Laredo International Airport of their interest in executing a new lease agreement between the Airport and RZ Communications.
The new lease term shall be for a term of five (5) years commencing on May 1, 2025, and terminating on April 30, 2030, with two (2) options to extend for five (5) years each. Initial annual rental amount shall be thirty-eight thousand five hundred eighty-two dollars and forty cents ($38,582.40), payable in equal monthly installments of three thousand two hundred fifteen dollars and twenty cents ($3,215.20), with rent subject to annual consumer price index (CPI) adjustments and fair market value adjustments every five years.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this Introductory Ordinance.
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Fiscal Impact
Fiscal Year: 2025
Budgeted Y/N?: N.
Source of Funds: Revenue - Land Rent
Account #: 242-0000-361-2060
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Annual Rent: $38,582,40
Monthly Rent: $3,125.20
Revenue collected will be allocated to Land Rent Account 242-0000-361-2060.