HomeMy WebLinkAbout24-2186 INCOMPLETEDocusign Envelope ID: 6A7BC299-98E&4F42-B4ACbAFD0932A8579
ORDINANCE NO. 24-2186
AN ORDINANCE OF THE CITY OF DENTON APPROVING AN ASSIGNMENT OF
AIRPORT LEASE FROM FIRST FINANCIAL RESOURCES, INC. TO DSR-CHEROKEE 180,
LLC COVERING PROPERTY AT 910 AERONCA LANE, DENTON, TEXAS AT THE
DENTON ENTERPRISE AIRPORT; AUTHORIZING THE CITY MANAGER TO EXECUTE
THE ASSIGNMENT OF AIRPORT LEASE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on January, 12, 2012, the City of Denton, a Texas home-rule municipal
corporation (hereinafter the “City”), entered into that certain Airport Lease Agreement (the
“Lease”) with First Financial Resources, Inc. (“Assignor”) covering property located at 910
Aeronca Lane, Denton, Texas, as more fully described in the Lease (the “Property”), at the Denton
Enterprise Airport (“Airport”), which Lease was approved by the City pursuant to Ordinance No.
2012-012; and
WHEREAS, on January 4, 2022, the Lease was amended to correct the stated square
footage amount, Ordinance 21-2740; and
WHEREAS, Assignor has agreed to assign its interest in the Lease, including certain
improvements thereon, to DSI(-Cherokee 180, LLC (“Assignee”); and
WHEREAS, the Lease requires the written consent of the City for the proposed assignment
to be effective, and Assignor has requested the City give such consent; and
WHEREAS, at the November 13, 2024 meeting of the Airport Advisory Board, the Board
recommended that the City approve the Assignment of Airport Lease for the Property by a vote of
5 to 0; and
WHEREAS, the City Council deems it in the public interest to enter into an Assignment
of Airport Lease giving consent to the assignment contemplated above; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The findings and recitations contained in the preamble of this ordinance are
incorporated herein by reference.
SECTION 2. The Assignment of Airport Lease for the Property in the form attached
hereto as Exhibit A is hereby approved and made a part of this ordinance for all purposes.
SECTION 3. The City Manager, or their designee, is hereby authorized to execute the
approved Assignment of Airport Lease.
SECTION 4. This ordinance shall become effective immediately upon its passage and
approval.
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Docusign Envelope ID: 6A7BC299-98EW+F42-B4A0-AFD0932A8579
The motion to approve this ordinance was made by Joe Holland and
seconded by Brian Beck , the ordinance was passed and approved by
the following vote L -
Aye Nay Abstain Absent
Mayor Gerard Hudspeth:
Vicki Byrd. District 1 :
Brian Beck. District 2 :
Paul Meltzer. District 3 :
Joe Holland. District 4:
Brandon Chase McGee, At Large Place 5 :
Jill Jester. At Large Place 6:
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PASSED AND APPROVED this the 19th day of November. 2024.
ATTEST :
LAUREN THODEN, CITY SECRETARY
B Y : e J/WL
APPROVED AS TO LEGAL FORM:
MACPwla£hND, CITY ATTORNEY