INTER-OFFICE MEMORANDUM 05/06/25
TO: Brooke Bassan, President, City Council
FROM: Timothy M. Keller, Mayor
SUBJECT:
title
First Amendment to Hangar Lease between the City of Albuquerque and High Flying Hangars,
LLC
body
I transmit herewith for City Council approval the First Amendment to the Land Lease and Agreement between the City of Albuquerque and High Flying Hangars, LLC, a New Mexico limited liability company.
The original lease, executed in March 2023, provides for the development of aircraft hangars on 5.8 acres of City-owned property at Double Eagle II Airport. This First Amendment adds a provision granting the Lessee the right to renew the lease for one (1) additional ten (10) year term following the expiration of the initial forty (40) year lease term. The renewal is conditioned on the Lessee being current on all rent and in compliance with all material terms of the Agreement at the time of notice and at the commencement of the renewal period.
The City’s Federal Grant Assurance obligations, including Grant Assurance 22 (Economic Nondiscrimination), require that similarly situated aeronautical users be offered fair and reasonable lease terms. This amendment ensures the City remains compliant by offering consistent lease terms to comparable tenants at Double Eagle II Airport.
City Council approval of this First Amendment is required pursuant to Section 5-2-6 ROA 1994, governing the leasing of City-owned real property.
Approved: Approved as to Legal Form:
_____________________________ ____________________________
Samantha Sengel, EdD Date Lauren Keefe Date
Chief Administrative Officer City Attorney
Recommended:
_____________________________
Richard G. McCurley Date
Director of Aviation