Public Hearing: YES ? NO ? Department: Airport
SUBJECT:
Title
Commission District(s): 1 and 6
Approval of Consent to Assignment by PDK Hospitality, Inc. dba Downwind Restaurant & Lounge to PGH Hospitality, L.L.C. Downwind Restaurant & Lounge. There is 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 Assignment by PDK Hospitality, Inc. dba Downwind Restaurant & Lounge to PGH Hospitality, L.L.C. dba Downwind Restaurant & Lounge; and,
To consider authorizing the Chief Executive Officer to execute the Consent to Assignment.
NEED/IMPACT:
The Lessee, PDK Hospitality, Inc. dba Downwind Restaurant & Lounge desires to assign and transfer all of its rights, title and interest in and to its long-term lease to PGH Hospitality, L.L.C. dba Downwind Restaurant & Lounge, a Georgia limited liability company. PGH Hospitality, L.L.C. dba Downwind Restaurant & Lounge desires to accept the assignment and transfer of the lease as a result of a Purchase and Sale Agreement between PDK Hospitality, Inc. dba Downwind Restaurant & Lounge and PGH Hospitality, L.L.C. dba Downwind Restaurant & Lounge.
Approval of the Consent to Assignment will allow the County to maintain the revenue generating stability of the lease. The Lessee's financial obligation to the County will neither increase or decrease.
The Consent to Assignment was briefed to the Airport Advisory Board on August 10, 2020.
The County Attorney has reviewed the document and approved it as to form, contingent upon approval by the Governing Authority.
The document is in Purchasing and Contracting Department
FISCAL IMPACT:
This is a revenue generating initiative. There is no cost to the County.
RECOMMENDATION:
Recommended Action
To approve the resolution and authorize the chief executive officer to execute all necessary documents....
Atta...
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