Public Hearing: YES ☐ NO ☒ Department: Airport
SUBJECT:
Title
Commission District(s): 1 and 6
Approval of Consent to Encumberance and Estoppel Certificate with Branch Banking and Trust Company as Leasehold Mortgagee and Helix X Holdings, LLC as Lessee. No Cost to the County
Body
Information Contact: Mario A. Evans, Airport Director
Phone Number: 770.936.5440
PURPOSE:
To consider approving a Consent to Encumberance and Estoppel Certificate with Branch Banking and Trust Company as Leasehold Mortgagee and Helix X Holdings, LLC as Lessee, and to consider authorizing the chief executive officer to execute the Consent to Encumberance and Estoppel Certificate.
NEED/IMPACT:
On April 22, 2008, through a consent to assignment, Helix X Holdings, LLC became the lessee of a revenue generating lease agreement for 2025 Flightway Drive. The term of the lease agreement ends on July 31, 2019. The lessee desires to secure a loan in part with Branch Banking and Trust Company by encumbering its interest in the leasehold through a Consent to Encumberance and Estoppel Certificate. The County Attorney as reviewed the document and approved it as to form. The original documents are in the Purchasing and Contracting Department.
FISCAL IMPACT:
This is a revenue generating initiative.
RECOMMENDATION:
Recommended Action
To approve the Consent to Encumberance and Estoppel Certificate with Branch Banking and Trust Company as Leasehold Mortgagee and Helix X Holdings, LLC as Lessee, and authorize the chief executive officer to execute all necessary documents.
Attachment - 7 pages: Consent to Encumberance and Estoppel Certificate