HomeMy WebLinkAbout18680 - RESOLUTIONS - 8/2/1995 o;yrr 9zlcxo f by
RESOLUTION NO. 18680
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS, CALIFORNIA APPROVING
TERMINATION AIRPORT LEASE NO. 1728 AND
APPROVING TWO NEW LEASES AND AN OPTION
FOR A THIRD LEASE WITH SHEWCHUK BRAKE,
A GENERAL PARTNERSHIP.
' WHEREAS the City of Palm Springs and John L. Kuranz, John A. Hallen and Thomas A.
Killoren, A California Partnership ("Original Tenant"), entered into that certain Lease
Agreement No. '1728 ("Original Lease") pursuant to which City leased to Original Tenant that
certain real property more particularly described therein ("Demised Premises"); and
WHEREAS the Original Tenant assigned the Original Lease to Carole Schutz pursuant to that
certain Assignment of Lease executed by original Tenant and Carole Schutz; and
WHEREAS the City and Carol Schutz subsequently amended the Original Lease pursuant to
that certain Amendment No. 1 to Lease Agreement No. 1728 dated November 7, 1990 ("First
Amendment"), that certain Second Amendment to Lease Agreement dated October 16, 1991,
("Second Amendment") and that certain Third Amendment to Lease Agreement dated
February 1, 1995 ("Third Amendment"); and
WHEREAS Carol Schutz has requested that Lease No. 1728 be assigned to Shewchuk Brake,
A General Partnership; and
WHEREAS the parties have agreed not to assign the Lease but rather concurrently cancel the
Schutz Lease and split the property into two parcels and enter into two leases with Shewchuk
Brake and option an additional 1 .9 acres to Shewchuk Brake for hangar development; and
' WHEREAS the Airport Commission has reviewed and unanimously recommends this
transaction to the City Council with the addition of a Letter of Credit to show that funds are
available to construct improvements; and
WHEREAS Airport staff recommends that in lieu of the Letter of Credit, the City simply
requires proof satisfactory to the City that funds are available for improvements prior to the
City executing the third lease,
NOW THEREFORE BE IT RESOLVED as follows:
Section 1 . The Termination Of Lease document for Agreement #1728 is hereby approved.
Section 2. Lease Agreement No. for Parcel 95-1 and Lease Agreement
No. for Parcel 95-2 are hereby approved.
Section 3. Lease Agreement for Parcel 95-3, subject to the submittal of evidence
satisfactory to the City of Palm Springs that Lessee has funds equal to at least
$350,000 committed to complete the construction obligations, is hereby
approved; however, Lessee shall have 120 days from the date of cancellation
of Lease 1728 to execute said Lease.
ADOPTED this 2nd day of August 1995.
' AYES: Members Hodges, Kleindienst, Reller-Spurgin and Mayor pro tern Lyons
NOES: None
ABSENT: Mayor Maryanov
ATTEST: CIT O PALMS ING CALIFORNIA
By
i—City Clerk 61t manager
REVIEWED & APPROVED AS TO FORM