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P.H. 2019-19: (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 SECOND ADDENDUM TO LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND POMPANO AVIATION II, LLC FOR PARCEL “AAAA” OF THE POMPANO BEACH AIR PARK; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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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 Second Addendum to the Lease Agreement between the City of Pompano Beach and Pompano Aviation II, LLC as Assignee for Parcel “AAAA” (Five Acres) at the Pompano Beach Airpark. This addendum allows for Pompano Aviation II, LLC to secure a long term lease which enables them to invest at least $3,000,000 to develop Parcel “AAAA” 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: N/A
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Pompano Aviation II, LLC - Second Addendum to Lease Agreement (PH 2019-19)