INTER-OFFICE MEMORANDUM October 19, 2020
TO: Pat Davis, President, City Council
FROM: Timothy M. Keller, Mayor
SUBJECT:
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10 Tanker Air Carrier Lease and Operating Agreement
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Attached for Council action is a copy of the Lease and Operating Agreement between the City of Albuquerque and 10 Tanker Air Carrier (“10 Tanker”).
Purpose: Currently, 10 Tanker has a lease for 106,960 SF of Air Cargo Ramp Space.
Council approval of this Lease will allow the Aviation Department to enter into a new lease with 10 Tanker Air Carrier. The new Lease will consolidate the aforementioned ramp space with newly leased space of 21,175 square feet of warehouse/hangar space and 5,836 square feet of office space located in the Sunport 1 Facility.
Term: The Agreement has a ten (10) year initial term. The Agreement allows for two (2) renewal periods of five (5) years each following the initial term.
Revenue Amount: $175,729.60 per year, escalated annually.
The attached transmittal of the Lease and Operating Agreement is submitted for consideration and action by the City Council.
10 Tanker Air Carrier Lease and Operating Agreement Page 2 of 2
Approved: Approved as to Legal Form:
___________________________ _______________________________
Sarita Nair Date Esteban A. Aguilar, Jr. Date
Chief Administrative Officer City Attorney
Recommended:
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Nyika A. Allen, C.M. Date
Director of Aviation