HomeMy WebLinkAbout030476 ORD - 04/14/2015 Ordinance approving the assignment of the Skywalk and
Improvements Lease Agreement regarding City property interests
located along Carancahua Street and Tancahua Street near Coopers
Alley, from NH Texas Properties Limited Partnership to BKD
Shoreline, LLC; consenting to the sublease of Trinity Towers Limited
Partnership; and authorizing the City Manager or designee,to execute
all documents related to the assignment and assumption agreement.
WHEREAS, the City of Corpus Christi ("City") executed a Skywalk and Improvements
Lease Agreement (" the Lease Agreement") with Trinity Towers Limited Partnership to
lease property as approved by Ordinance 022820 on January 14, 1997, with term
continuing until December 17, 2056;
WHEREAS, the Lease was assigned to NH Texas Properties L.P.;
WHEREAS, NH Texas Properties, L.P. has requested the approval of the City to assign
all of its right, title and interest in the Lease Agreement to BKD Shoreline, LLC and
consent to the sublease to Trinity Towers Limited Partnership;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI
TEXAS THAT:
SECTION 1. The City Council, pursuant to Article IX, Section 4, of the City Charter, and
pursuant to Section 15 of the Lease Agreement, approves the assignment of the Skywalk
and Improvements Lease Agreement, to BKC Shoreline, LLC. The City Council consents
to the sublease to Trinity Towers Limited Partnership. Furthermore, the City Manager or
his designee is authorized to execute all documents related to the assignment and
assumption agreement including an estoppel certificate. A copy of the documents will be
filed with the City Secretary.
That the foregoing ord' a ce was read forth first time and passed to its second
reading on this the (3I gbay of 'Y'I(Lr CL;2015, by the following vote:
Nelda Martinez le, Brian Rosas (11W4j-
Rudy
Garza Lucy Rubio I i /
Chad Magill 1. , / Mark Scott I%,
I
Colleen McIntyre ! Carolyn Vaughn L/
Lillian Riojas
That the fofegoing ordinance wa read for the second time and passed finally on this
the 114-11-day of / , 2015, by the following vote:
Nelda Martinez C� Brian Rosas --1r---
Rudy Garza OCCy-- Lucy Rubio _4-z___
030476
INDEXED
TLColChad Magill aMark Scott ale-
Colleen
leen McIntyre Carolyn Vaughn C (
at
Lillian Riojas Mt
PASSED AND APPROVED, this the I ` - day of 00 , 2015.
ATTEST:
Rel.J2,e ,e., kLrk3f-1
Rebecca Huerta Nelda Martin
City Secretary Mayor
030476