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