City of Grand Prairie - File #: 20-10541

• File #: 20-10541
• Version: 1
• Name: Airhogs Sports Corp Lease amendment
• Type: Agenda Item
• Status: Agenda Ready - Committee
• File created: 10/27/2020
• In control: Sports Facilities Development Corporation
• On agenda: 11/16/2020
• Title: Amendment to Ground Lease with City of Grand Prairie to conform with new development at Airhogs Stadium; Consent of Sublease between City of Grand Prairie and MLC Dallas Stadium Co. L.L.C.; Consent to Amendment to Amended and Restated Lease Agreement between City of Grand Prairie and Anchutz Texas, L.P. to amend the boundaries of the lease agreement

From

Megan Mahan

Title

Amendment to Ground Lease with City of Grand Prairie to conform with new development at Airhogs Stadium; Consent of Sublease between City of Grand Prairie and MLC Dallas Stadium Co. L.L.C.; Consent to Amendment to Amended and Restated Lease Agreement between City of Grand Prairie and Anchutz Texas, L.P. to amend the boundaries of the lease agreement

Presenter

Megan Mahan, City Attorney

Recommended Action

Approve

Analysis

The Airhogs Stadium has a ground lease between the City and Grand Prairie Sports Facilities Development Corporation. Because there is a new sublease with a new developer, the Ground Lease must be amended conform to the details of that development. The Ground Lease also requires Sports Corporation approval for any subletting. The land next to the stadium is partially owned by the City of Grand Prairie and partially owned by the Sports Corporation (that is leased to the City of Grand Prairie). To accommodate the development construction, the lease boundaries with Anchutz Texas, L.P. are being amended, requiring Sports Corporation consent as land owner.

Financial Consideration

none