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 5.0681 acres parcel portion of Lots 2B and 2C, Block 1, Butterfield Trail Industrial Park Unit One Replat "A," El Paso County Plat Records, consisting of approximately 220,768.6 square feet, City of El Paso, El Paso County, Texas, municipally known and numbered as 9 Zane Grey Street, 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 $1,440,000.00.
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