CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
DISTRICT, DEPARTMENT, CONTACT INFORMATIOn:
Please choose District and Department from drop down menu. Please post exactly as example below.
No Title’s, No emails. Please use ARIAL 10 Font.
Details
District 3
Airport, Sam Rodriguez, (915) 212-7300
End
AGENDA LANGUAGE:
This is the language that will be posted to the agenda. Please use ARIAL 11 Font.
Title
This Resolution is to authorize the City Manager to sign a Southern Industrial Site Lease between the City of El Paso ("Lessor") and Franklin Motors, Inc. ("Lessee") for all of Lot 5 and a portion of Lots 1, 2, 3 and 4, Block 11, El Paso International Airport Tracts, City of El Paso, El Paso County, Texas, municipally known and numbered as 8601 Lockheed, El Paso, Texas.
The initial lease term is twenty (20) years with two (2) ten (10) year options. The site is 172,665 square feet at $ .40 per square foot and the annual rate is $69,066.00, an increase of $42,734.59 annually from the expiring lease.
End