STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: September 28, 2022
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Aviation
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
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Authorize the first amendment to the development agreement between the City of Dallas and Burchfield & Partners, LLC to extend the deadline to March 31, 2024 for completing the development project and to increase the City's reimbursement amount for the development of certain airport-owned common-use improvements at Dallas Executive Airport - Not to exceed $600,000.00 - Financing: Aviation Construction Fund (subject to annual appropriations)
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BACKGROUND
On April 11, 2018, the Dallas City Council authorized a thirty-nine year and eleven-month lease agreement, with three ten-year renewal options, with Burchfield & Partners, LLC (B&P) for approximately 228,690 square feet of land (5.25 acres) at Dallas Executive Airport by Resolution No. 18-0516 for aeronautical development. The lease, which was effective March 8, 2019, includes a development agreement that describes the manner in which B&P is required to design and construct certain capital improvements and provides for certain economic incentives from the City's Department of Aviation (AVI).
As part of the development agreement, B&P is required to expend a minimum of $15,931,859.00 for the development of (i) a minimum 60,000 square feet of combined aircraft hangar and office space (Leasehold Improvements) and (ii) an airport-controlled common-use aircraft ramp area, taxiway connectors, and infrastructure to the site (Common-Use Improvements). AVI agreed to reimburse B&P in an amount not to exceed $4,164,186.00 for approved expenditures related to the Common-Use Improvements. Additionally, because this is a catalyst project that will fuel additional development on the west side of the airfield, AVI also agreed to reimburse B&P up to 30 percent of ...
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