PILLAR: Core
AGENDA DATE: February 25, 2026
COUNCIL DISTRICT(S): 2 14
DEPARTMENT: Department of Facilities and Real Estate Management
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize termination of a ninety-nine year ground lease agreement, including the exercise of the right of eminent domain if such becomes necessary; from Retail PropCo Borrower, LLC, of a tract of land containing approximately 26,666 square feet located near the intersection of Cedar Springs Road and Oak Lawn Avenue for the Fire Station No. 11 Project - Not to exceed $79,000.00 ($75,000.00, plus closing costs and title expenses not to exceed $4,000.00) - Financing: Public Safety Facilities (F) (2024 General Obligation Bond Fund)
Body
BACKGROUND
This item, on behalf of the Dallas Fire Rescue Department, authorizes the termination of a 99-year ground lease agreement, including the exercise of the right of eminent domain if such becomes necessary; from Retail PropCo Borrower, LLC, of a tract of land containing approximately 26,666 square feet located near the intersection of Cedar Springs Road and Oak Lawn Avenue for the Fire Station No. 11 Project. The original commencement date of the ground lease is November 3, 1982, with an expiration date of November 9, 2018. The current ground lease is for parking.
This property will be used for the construction, use, and maintenance of a fire station, as replacement of Fire Station No. 11. The consideration is based on an independent appraisal.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
Public Safety Facilities (F) (2024 General Obligation Bond Fund) |
$79,000.00 |
$0.00 |
$0.00 |
OWNER/EXECUTIVE
Retail PropCo Borrower, LLC
Mark Weisz, Governing Person
MAP
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