From
Mark J. Divita
Title
Assignment of Lease Agreement - Chad Ferrell, Aviator Air, LLC to Nataly Vivero Alvarez & Jorge Barrios Martinez, Radial Engine Restaurant, LLC.
Presenter
Mark J. Divita, Airport Director
Recommended Action
Approve
Analysis
On Nov 1, 2016, Chad Ferrell, Aviator Air, LLC, assumed the Café lease from the previous lessee to operate a restaurant in the Airport Terminal at the Grand Prairie Municipal Airport. The term of the lease expires April 31, 2018. Mr. Ferrell now seeks to assign his rights under that agreement to Nataly Vivero Alvarez & Jorge Barrios Martinez, Radial Engine Restaurant, LLC.
Nataly Vivero Alvarez & Jorge Barrios Martinez have been café employees working in the café under Mr. Ferrell. Mr. Ferrell has agreed to donate all food stuffs and 2 months of accounting training to Nataly Vivero Alvarez & Jorge Barrios Martinez in order to ensure a smooth transition. The Café is viewed as an amenity and asset to the airport, the flying public and the local community.
The original lease began May 1, 2013 and will expires in April 2018; the lease was for a five (5) year term with one (1) additional optionable five (5) year term. City will propose that a new rent structure be put in place on the new lease.
Financial Consideration
Rent collected for the first six months shall be waived in order to help the café proprietor get on their feet. The Airport will aid with advertising in order to ensure the Café is successful.