SUBJECT
title
An Ordinance authorizing the City Manager to execute a lease agreement between The Laredo International Airport and Freightsol, LLC, for approximately 157 square feet of office space, suite #130, located at 4719 Maher Avenue, Laredo, Webb County, Texas, on a property 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 three (3) years commencing on August 1, 2024 until July 31, 2027. Initial monthly rent shall be $800.00 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI); and providing for an effective date. There is no financial expenditure impact.
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PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
The Laredo International Airport currently has office space available for lease at a property located at 4719 Maher Avenue, also known as the Federal Inspection Station. Said office space constitutes 157 square feet in suite #130. Freightsol, LLC has expressed interest in the space, to be used as an administrative office for their aviation services.
The Laredo International Airport finds that's that it is in the best interest of the airport to enter this lease agreement. The proposed term of the lease agreement is for three (3) years commencing on August 1, 2024 until July 31, 2027. Initial monthly rent shall be $800.00 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI).
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the approval of this introductory ordinance.
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Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: Y.
Source of Funds: Aeronautical Building Rent
Account #: 242-0000-361-1086
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Rent will commence at $800 a month and will be adjusted annually according to changes in the Consumer Price Index (CPI)...
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