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Legislation #: 070156 Introduction Date: 2/8/2007
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing a Ground Lease with FastTrack Group, LLC at the Kansas City International Airport.

Legislation History
DateMinutesDescription
2/7/2007 Filed by the Clerk's office
2/8/2007 Referred to Aviation Committee
2/14/2007 Advance and Do Pass, Consent
2/15/2007 Passed

View Attachments
FileTypeSizeDescription
070156.pdf Authenticated 49K Authenticated
Fact Sheet - FastTrack.doc Fact Sheet 129K Fact Sheet
OrdReq Fiscal Note.xls Fiscal Note 31K Fiscal Note

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ORDINANCE NO. 070156

 

Authorizing a Ground Lease with FastTrack Group, LLC at the Kansas City International Airport.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Aviation is hereby authorized to enter into a Ground Lease with FastTrack Group, LLC at the Kansas City International Airport which Ground Lease encompasses 301.3 acres with an initial annual rent of $262,486.00 subject to certain predetermined ground rent increases. A copy of the Ground Lease is on file in the office of the City Clerk.

 

Section 2. That the Director of Aviation is hereby authorized to expend the following amounts heretofore appropriated to the Kansas City Airports Fund 07-8300-621040-B to Watkins & Company, Inc. (Broker) for work to be performed (real estate commission) under the aforesaid Ground Lease.

 

$748,084.08 Other Professional Services

 

_____________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

 

___________________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Dorothy L. Campbell

Assistant City Attorney