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File #: 14-1109    Version: 1 Name: Resolution - Consider a Resolution to Approve an Agreement of Consent to Assignment of Waterpark Ground Lease and Operating Agreement with Mansfield Family Entertainment, LLC
Type: Resolution Status: Passed
File created: 10/17/2014 In control: City Council
On agenda: 12/8/2014 Final action: 12/8/2014
Title: Resolution - Consider a Resolution to Approve an Agreement of Consent to Assignment of Waterpark Ground Lease and Operating Agreement with Mansfield Family Entertainment, LLC
Sponsors: Shelly Lanners
Attachments: 1. Resolution, 2. Consent to Assign Agreement
Title
Resolution - Consider a Resolution to Approve an Agreement of Consent to Assignment of Waterpark Ground Lease and Operating Agreement with Mansfield Family Entertainment, LLC
 
Requested Action
Consider approving Resolution to approve Lease Assignment Consent
 
Recommendation
Approve Resolution
 
Description/History
In April of 2007, the City executed a lease agreement with Mansfield Family Entertainment, LLC (MFE) to lease the property known as Hawaiian Falls. MFE is requesting the City's consent to assign the Ground Lease to CLP Mansfield TX Waterpark TRS Corp.
 
Justification
The Water Park Ground Lease and Operating Agreement, Section 18.1 provides that the Ground Lease may not be assigned without prior written consent from the City.
 
Funding Source
N/A
 
Prepared By
Shelly Lanners, Director, Community Services
817-276-4265