Memorandum
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The document is a memorandum regarding a city council action request to amend the lease of airport premises with MAC Cargo Handling, LLC for air cargo operations. It recommends adopting a resolution to authorize the City Manager to negotiate and execute the fourth amendment to extend the lease term for three additional years, retroactively starting May 1, 2025, through April 30, 2028. The lease generates significant annual revenue and supports air cargo services at the San José Mineta International Airport.
Key points
- The memorandum is related to the amendment of a lease with MAC Cargo Handling, LLC.
- The lease extension is proposed to be retroactive to May 1, 2025, and extend through April 30, 2028.
- The lease generates approximately $199,296 annually, totaling about $597,888 over the three-year term.
- No commission recommendation or input is associated with this action.
- There are no costs associated with this action.
Limitations
- The document does not specify the exact date of the council meeting or the context of the agenda item.
- There are unresolved placeholders in the document, such as the specific council agenda details.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.