SUBJECT
title
An Ordinance of the City of Laredo authorizing the City Manager to execute a lease agreement between The Laredo International Airport and Freeman Holdings of Laredo, LLC, for approximately 157 square feet of office space, suite #130, located at 4719 Maher Avenue, Laredo, TX, in a building formally known as the Federal Inspection Station. Said property is legally described as Block no. 1, of the Subdivision Plat of Laredo Airport according to the map or plat thereof recorded in Volume 5, Page 1, Plat Records of Webb County, Texas. The proposed lease term is for one (1) year commencing on December 1, 2026 until November 30, 2027. Tenant will be granted four (4) options to renew, with each option lasting one (1) year. Initial monthly rent shall be $823.20 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI); and providing for an effective date.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The Laredo International Airport currently has office space available for lease at 4719 Maher Avenue, also known as the Federal Inspection Station. The available space consists of approximately 157 square feet located in Suite 130. Freeman Holdings of Laredo, LLC has indicated interest in leasing the space for use as an administrative office for aviation services.
The Laredo International Airport considers entering into this lease agreement to be
in the best interest of the airport. The proposed term of the lease agreement is for one (1) year commencing on December 1, 2026 until November 30, 2027. Tenant will be granted four (4) options to renew, with each option lasting one (1) year. Initial monthly rent shall be $823.20 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI).
VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: Strong
Supporting goal(s)/policy(ies):
Policy 4.16.2: The city supports new mixed-use development and redevelopment on and around airport land.
Summary of alignment: This policy strongly aligns with the proposed agreement between the City of Laredo and Freeman Holdings of Laredo, LLC. The lease supports the continued use of aeronautical land for aviation-related purposes while also promoting business and economic activity in Laredo.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this introductory ordinance.
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Fiscal Impact
Fiscal Year: 2027
Budgeted Y/N?: Y
Source of Funds: Laredo International Airport- Aeronautical Building Rent
Account #: 242-0000-361-1086
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Rent will commence at $823.20 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI). All commission revenue will be deposited into the respective department’s revenue account No. 242-0000-361-1086.