SUBJECT
title
Introductory Ordinance amending Ordinance Number 2021-O-096, authorizing the City Manager to amend lease agreement between the City of Laredo, as LESSOR, and City of Laredo Health Department, as LESSEE, approved by Ordinance No. 2021-O-096 dated April 19, 2021, by amending Section 2.01(C.), Commencement of Term, by extending the renewal option terms from two one-year renewal option periods to two three-year renewal option periods, to end the first renewal option period on April 30, 2027. All other terms and conditions remain unchanged and in effect; providing for an effective date. All revenue funds will be allocated to Airport Operations Fund.
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PREVIOUS COUNCIL ACTION
Ordinance No. 2021-O-096 dated April 19, 2021
BACKGROUND
The Laredo International Airport and the City of Laredo Health Department have an executed lease agreement for the rental of a commercial space located at 1605 E Hillside Rd.
Health department is requesting to amend Section 2.01, Commencement of Term to extend the lease term for three (3) years to end on April 30, 2027. All other terms and conditions remain unchanged and in effect.
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: Airport Operations Fund
Account #: 242-0000-361-1060
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Building Rent - 242-0000-361-1060 Revenue Account.
Rent: $38,984.04 Yearly
$3,248.67 Monthly