Public Hearing: YES ☐ NO ☒ Department: Airport
SUBJECT:
Title
Commission District(s): 1 and 6
Approval of Landlord - Bank Agreement with Bank of America, N.A. for Grant of Leasehold Security Deed for Select Aviation, LLC
Body
Information Contact: Mario A. Evans, Airport Director
Phone Number: 770.936.5440
PURPOSE:
To consider approving a Landlord - Bank Agreement with Bank of America, N.A. and to consider authorizing the Chief Executive Officer to execute the Landlord - Bank Agreement.
NEED/IMPACT:
There is no cost to the County.
On April 30, 2015, Select Aviation, LLC became the lessee of a revenue generating lease agreement for 1990 Airport Road. The term of the lease agreement ends on March 31, 2037. The lessee desires to secure a loan with Bank of America, N.A. by encumbering its interest in the leasehold through a leasehold security deed.
The County Attorney has reviewed the document and approved it as to form.
FISCAL IMPACT:
This is a revenue generating lease agreement.
RECOMMENDATION:
Recommended Action
To approve the resolution and authorize the chief executive officer to execute all necessary documents....
Attachment: Landlord - Bank Agreement with Bank of America, N.A.