Public Hearing: YES ☐ NO ☒ Department: Airport
SUBJECT:
Title
Commission District(s): 1 and 6
Lessor Estoppel Certificate under DeKalb County Contract No. 14-801027 with Avionics Sales Corporation. There is no cost to the County.
Body
Information Contact: Mario A. Evans, Airport Director
Phone Number: 770.936.5440
PURPOSE:
To consider approval of Lessor Estoppel Certificate under Contract No. 14-801027 by Avionics Sales Corporation to The Maintenance Group, LLC dba Elliott Aviation of Atlanta, LLC; and
To consider authorizing the Chief Executive Officer to execute the Lessor Estoppel Certificate.
NEED/IMPACT:
As a result of an asset purchase agreement, the Lessee, Avionics Sales Corporation, will transfer the Lease Agreement to The Maintenance Group, LLC dba Elliott Aviation of Atlanta, LLC and The Maintenance Group, LLC dba Elliott Aviation of Atlanta, LLC accepts the transfer of the Lease Agreement.
Approval of the Lessor Estoppel Certificate will allow the County to maintain the revenue generating stability of the lease agreement. The Lessee’s financial obligation to the County will neither increase nor decrease.
The Lessor Estoppel Certificate does not require briefing by the Airport Advisory Board.
The County Attorney has reviewed the document for approval as to form pending Governing Authority approval.
FISCAL IMPACT:
This is a revenue generating lease agreement. 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....