CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
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Details
District 3
Airport, Sam Rodriguez, (915) 212-7301
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AGENDA LANGUAGE:
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Title
A Resolution to authorize the City Manager to sign a Lease Agreement between the City of El Paso ("Lessor") and B.H. Zane Grey Butterfield, LLC ("Lessee") regarding the following described property: A 5.0234 acres parcel portion of all of Lot 2 and a portion of Lot 2B, Block 1, Butterfield Trail Industrial Park Unit One Replat "A," El Paso County Plat Records, consisting of approximately 218,818.9 square feet, City of El Paso, El Paso County, Texas, municipally known and numbered as 4 and 6 Butterfield Trail Blvd., El Paso, Texas.
The term of this lease is an initial term of forty (40) years and one (1) ten-year option to extend the term of the lease. The annual rental fee for the land in the initial term will be $84,000. The rent fee for the building will be a lump sum in the amount of $1,145,000.00.
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