STRATEGIC PRIORITY: Mobility Solutions, Infrastructure, and Sustainability
AGENDA DATE: March 24, 2021
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Aviation
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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Authorize the First Amendment to the Development Agreement between the City of Dallas and Commemorative Air Force, Inc. ("CAF") to join CAF's subtenant as a party to the development agreement at Dallas Executive Airport - Financing: No cost consideration to the City
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BACKGROUND
On December 10, 2014, City Council authorized the City Manager to enter into a thirty-nine-year lease agreement with Commemorative Air Force, Inc., a Texas 501c(3) nonprofit corporation, for approximately forty-five acres of improved and unimproved land, aircraft hangar, ramp, and automobile parking by Resolution No. 14-2184.
On December 10, 2014, City Council also authorized a development agreement with CAF for the construction of a 35,000 square foot museum/hangar building with a minimum investment of $5,000,000.00 from CAF (the "Phase I Improvements") by Resolution No. 14-2185. The Phase I Improvements also include an education center along with the museum.
CAF has been working with affiliate organizations in the process of completing the Phase I Improvements. These organizations include The American Airpower Heritage Museum, Inc., a Texas non-profit corporation (the "Museum") and the Museum's wholly-owned subsidiary, AAHM DEA Education Center, LLC ("AAHM DEA"). Per the terms of the development agreement, CAF was required to complete construction of and obtain a final certificate of occupancy for the Phase I Improvements by December 31, 2020. However, due to various delays caused by the COVID-19 pandemic and weather, CAF was unable to meet the deadline. Pursuant to the force majeure provisions of the development agreement, CAF was granted an extension of four months to complete construction and obtain the ...
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