Agenda

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Work Session and Regular Meeting

Meeting Date:	06/26/2018
Department:	Public Works
Pillars:	Innovation in Entrepreneurship and Business Excellence in Transportation Systems

AGENDA CAPTION:

Consider Action to Approve a Resolution for Assignment of Ground Leasehold Interest from Mission Aire IV, LP, as Assignor to AQRD-REP, LLC, as Assignee for the Property Located at 4600 Claire Chennault Drive on Addison Airport at the Northeast End of Taxiway Uniform and Authorize the City Manager to Execute the Consent of Landlord.

BACKGROUND:

The ground lease with Mission Aire IV, LP became effective on July 1, 1997. Built in 1998, the Leased Premises consists of an 8,400 square-foot, two story office building and two large hangar bays with a combined 19,400 square-feet of hangar space. The office is 100% sprinklered, has an elevator and emergency fire alarms.

The proposed assignee, AQRD-REP, LLC, (AQRD) a Texas limited liability company, has been the current subtenant for approximately 4 years and plans to continue and expand its current operations at this location. AQRD is a private company based in Addison that provides Federal Aviation Administration (FAA) approved services including repair engineering, FAA approvals, as well as managed part repair services. AQRD has FAA Designated Engineering Representative (DER) Authorities and is a Code of Federal Regulations (CFR) Title 14, Part 145 Repair Station. This designation allows them to engineer a repair, create the supporting data, document FAA approval, and then repair the component in-house. AQRD is a solutions based engineering firm that employs its different authorities and capabilities to get an engineering project or part repair from start to finish turn-key.

V. Raj Narayanan, CEO of AQRD, is a current member of the DFW Airport Board and has been flying into Addison Airport for over 15 years and has been a tenant on the field for over 9 years.

The city attorney has approved the Assignment of Ground Lease Agreement as to form.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Assignment of Ground Lease from Mission Aire to AQRD