STRATEGIC PRIORITY: Sustainable
AGENDA DATE: June 25, 2025
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Aviation
EXECUTIVE: Dev Rastogi
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SUBJECT
Title
Authorize the Eighth Amendment to the Lease of Land and Facilities with MLT Development Co. to (1) reduce the leased premises by approximately 16,576 square feet (0.38 acres) for the purpose of constructing a new airport vehicle access road, Estimated Revenue Foregone: Aviation Fund $263,454.07, (2) add approximately 102,315 square feet (2.35 acres) of land improved with an approximately 14,938 square-foot building to the leased premises and increase the rent accordingly - Estimated Revenue: Aviation Fund $5,786,010.53; and (3) increase the rent accordingly, and grant MLT an additional twenty four months in which to expend $5,000,000.00 for capital improvements to the leased premises - Estimated Net Revenue: Aviation Fund $5,522,556.46
Body
BACKGROUND
MLT Development Co. ("MLT") currently leases approximately 1,275,241 square feet (29.28 acres) of land at Dallas Love Field under that certain Lease of Land and Facilities dated January 1, 1999, as amended.
As part of the Dallas Love Field ARFF Station 21 Replacement project, the City requires a portion of MLT's existing leased premises for the construction of a vehicle access road to the new Aircraft Rescue and Fire Fighting (ARFF) station. As consideration for the take-back of the approximately 16,576 square feet of land needed to accommodate the construction of the vehicle access road, the City will extend MLT's deadline to complete construction of new leasehold improvements at an expense of no less than $5,000,000.00 to twenty-four months from the effective date of the proposed Eighth Amendment and add approximately 117,253 square feet of land, including the existing approximately 14,938 square foot ARFF station, to the leased premises following the relocation of Dallas Fire-Rescue...
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