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EST FOR CITY COUNCIL AGEN ITEM <br />Agenda Date Requested: Januar 1992 <br />Requested By: S. Gillett Department: Public Works <br />XXXX <br />Report Resolution <br />Exhibits: Letter Requesting Extension of Lease Option <br />Plat of Proposed Lease Area <br />Ordinance <br />SUMMARY & RECOMMENDATION <br />On December 12, 1988, the City Council approved an amendment to the lease <br />held by Cliff Hyde Flying Service, Inc. that granted an option, in the form <br />of a right of first refusal, for forty five (45) tiedowns and the one <br />hundred by one hundred foot (100`x100') tract shown on the attached <br />exhibit, until December 31, 1989, renewable until December 31, 1990. A <br />five hundred dollar ($500.00) option fee was paid for the two (2) year <br />option. <br />Cliff Hyde Flying Service, Inc. exercised its option to renew in December <br />1989, and subsequently requested an additional year, approved by Council <br />December 12, 1990. The latest option expired December 31, 1991. The <br />Lessee has delayed leasing the property due to the current Airport Master <br />Plan Update. <br />As shown on the attached plat, property currently leased by the Texas Air <br />National Guard has been identified in the Plan as desirable for the future <br />development of the southern quadrant of the Airport. This parcel is <br />adjacent to the parcels in the Option Agreement, and Cliff Hyde Flying <br />Service, Inc. has requested an additional year to exercise the option. <br />This will allow Cliff Hyde to adequately plan for future facilities in this <br />area. Cliff Hyde Flying Service has offered two hundred fifty dollars <br />($250.00) for the additional one (1) year option. <br />Action Required by Council: Approve the extension of the option described <br />in the Lease Amendment approved December 12, 1988 between the City of La <br />Porte and Cliff Hyde Flying Service, Inc. for one (1) year, expiring <br />December 31, 1992, for two hundred fifty dollars (5250.00). <br />Avai a i ity o Fun s: <br />_ General Fund Water/Wastewater <br />Capital Improvement General Revenue Sharing <br />Other <br />Account Number: N/A Funds Available: YES NO <br />Approved for City Council Agenda <br />Robert T. Herrera DATE <br />City Manager <br />