HomeMy WebLinkAboutMINUTES - 12081998 - C19 ...........................................................................................................
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TO:' BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: DECEMBER 8, 1998
SUBJECT: BUCHANAN FIELD AIRPORT — SERVICO CONCORD, INC. (SHERATON CONCORD
HOTEL)—SECOND CONSENT TO LEASEHOLD ENCUMBRANCE AND AGREEMENT OF
LESSOR; SECOND ACKNOWLEDGMENT AGREEMENT
SPECIFIC REQUEST(S)OR RECOMMENDATIONS)&BACKGROUND AND JUSTIFICATION
I. Recommended Action:
APPROVE and AUTHORIZE the Public Works Director, or his designee, to EXECUTE, on behalf of
the County, a Second Consent to Leasehold Encumbrance and Agreement of Lessor, and a Second
Acknowledgment Agreement consenting to its tenant, Servicer Concord, Inc.,refinancing a loan on tenant's
leased premises at the Buchanan Field Airport.
11. Financial Imlaac :
There should be no financial impact from this action.
Continued on Attachment: SIGNATURE:
—XLUUMMhJNVA11UfN Ok UVUfN1Y AVfV111N1b1-XA1VK
RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD APPROVED AS RECOMMENDED_-4- NOMA_
VOTE OF SUPERVISORS
UNANIMOUS(ABSENT--7a:-F
AYES: NOES:
ABSENT: ABSTAIN:
DLM:11RA I hereby certify that this is a true and correct
C:B0XBo8&.tj2.doC
Orig.Div: Public Works(Airports) coPY of an action taken and entered on the
Contact: (Dick R.Awwius,646-5722) minutes of the Board of Supervisors on the
cc: County Administrator date shown.
Public Works Director
pub ic Works-Accounting
Auditor/Controller ATTESTED:
Aviation Advisory Committee(via Airport) PHIL BATCHELOR, Clerk of the Board
Federal Aviation Administration(via Airport)
Patricia Welles,Service,Concord,Ine.(via Airport) of Supervisors and County Administrator
By .49
Deputy
e l9
SUBJECT: BUCHANAN FIELD AIRPORT — SERVICO CONCORD, INC. (SHERATON CONCORD
HOTEL)—SECOND CONSENT TO LEASEHOLD ENCUMBRANCE AND AGREEMENT OF
LESSOR; SECOND ACKNOWLEDGEMENT AGREEMENT
DATE: DECEMBER 8, 1998
PAGE 2
III. Reasons for Recommendations and Background:
The County owns the land underlying the Sheraton Concord Hotel near the Buchanan Field Airport. The
County leases the land to Servico Concord,Inc.,an Ohio corporation(Servico),which operates the Sheraton
Concord Hotel. Servico now wants to refinance its loan on the leased premises. The lease provides that the
tenant must receive County's written consent to place or refinance a loan on the based premises. This action
provides for County's consent to the loan between the tenant and a third party lender
IV. Consequences of Negative Action:
The County will not sign the Second Consent to Leasehold Encumbrance and Agreement of Lessor, and
Second Acknowledgment Agreement, and the tenant may or may not enter the loan agreement with its
lender.