LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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AIRPORT - ASSIGNMENT AND ASSUMPTION OF LEASE WITH CONSENTS - EXECUTIVE CAR RENTAL, INC.TO AMERICAN RENT A CAR INC.
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RECOMMENDATION:
recommendation
That City Council approve an Assignment and Assumption of a Lease with Consents of the Executive Car Rental, Inc. Rental Car Concession Agreement and Real Property Lease to American Rent A Car Inc. Further, that City Council authorize the Mayor to take all necessary actions to execute the assignment and assumption.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
Executive Car Rental, Inc. has been operating a rental car concession from the Airport since February 2020. Executive Car Rental, Inc. operates under the same terms and conditions as the other rental car concessionaires operating from the Airport.
In June of 2021 the Airport received a written request from Executive Car Rental, Inc. to assign their concession agreement to American Rent a Car. Article 11 of the Rental Car Concession Agreement and Real Property Lease does allow for the assignment of the agreement upon written consent by the City.
PRIOR ACTION:
January 16, 2020 - City Council approves Executive Car Rental, Inc. Rental Car Concession Agreement and Real Property Lease.
FUNDING:
N/A
FINANCIAL IMPACT:
The assignment will be revenue neutral as American Rent a Car Inc. will assume the current Executive Car Rental, Inc. payment obligations.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
11/22/2021
STAFF CONTACT:
Kerrith Fiddler, City Administrator
Amy Miller, Deputy City Administrator - Administration & Enterprise
Matthew F. Coughlin, Airport Director
ATTACHMENTS:
1) Executive American Assignment and Assumption of Lease with Consents
PRESENTATION: No end