File #: 19-06    Version: Name:
Type: Ordinance / Regular Agenda Status: Second Reading
File created: 10/2/2018 In control: City Commission
On agenda: 10/23/2018 Final action: 10/23/2018
Title: P.H. 2019-05: (PUBLIC HEARING 1ST READING) AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND MTT AIRPARK HOLDINGS, LLC; PROVIDING SEVERABILITY; PROVIDING AN EFFECTIVE DATE. (Fiscal Impact: $5,829.78 to be paid to the city monthly) SECOND READING: OCTOBER 9, 2018
Attachments: 1. City Atty Memo, 2. Ordinance, 3. MTT Lease Agreement with Signature Page, 4. Exhibit 1, 5. Exhibit 2, 6. Exhibit 3, 7. Exhibit 4

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P.H. 2019-05: (PUBLIC HEARING 1ST READING)

AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND MTT AIRPARK HOLDINGS, LLC; PROVIDING SEVERABILITY; PROVIDING AN EFFECTIVE DATE.

(Fiscal Impact: $5,829.78 to be paid to the city monthly)

 

SECOND READING: OCTOBER 9, 2018

 

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(Staff Contact: Robert McCaughan/Steven Rocco)

 

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Summary Explanation/Background:

This item involves seeking City Commission approval to execute a Lease Agreement between the City of Pompano Beach and MTT Airpark Holdings, LLC for Parcel “Y” (8 acres) at the Pompano Beach Airpark. This allows MTT Airpark Holdings, LLC to secure a long term lease which enables them to invest at least $3,000,000 to develop Parcel “Y” in order to provide aeronautical services to all users and tenants of the Airpark.

 

Origin of request for this action: Air Park

Fiscal impact and source of funding: $5,829.78/monthly in rent payments made to the City.

 

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MTT AIRPARK HOLDINGS, LLC - LEASE AGREEMENT