Title
Authorizing the Procurement Commissioner, on behalf of the City, to enter into a lease and concession agreement with Aero Center Northeast Philadelphia, LLC in connection with certain property at Northeast Philadelphia Airport to facilitate the development and operation of a new fixed-based operator, all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. The Procurement Commissioner, on behalf of the City of Philadelphia, is hereby authorized to enter into a lease and concession agreement with Aero Center Northeast Philadelphia, LLC for the construction, operation, and maintenance of a new fixed-based operator facility at Northeast Philadelphia Airport pursuant to terms substantially as set forth in the term sheet attached hereto as Exhibit "A".
SECTION 2. The City Solicitor shall review and to approve the lease and concession agreement and impose such terms and conditions on it as the City Solicitor may deem necessary and proper to protect the interests of the City of Philadelphia and to carry out the purpose of this Ordinance.
SECTION 3. This Ordinance shall be effective immediately.
EXHIBIT A
Term Sheet for Fixed Base Operator at Northeast Philadelphia Airport
1. Parties
The City of Philadelphia, acting through the Procurement Department and the Aviation Department, ("City") and Aero Center Northeast Philadelphia, LLC ("Concessionaire").
2. Term
The Term of the Agreement, upon City Council authorization, is for twenty years, commencing after a preliminary term, but no later than July 1, 2026 ("Initial Term"). The Term may be extended for one five-year renewal term followed by one four-year and eleven-months renewal term, at Concessionaire's option, subject to City's approval based on Concessionaire's compliance with the renewal term criteria.
3. Premises
The premises shall consist of a parcel of land located in the eastern portion of Northeast Philadelphia Airport of approximat...
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