Department
Real Estate and Asset Management
Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of the assignment of an existing airport Ground Lease Agreement between Fulton County, Georgia (“Landlord” or “Lessor”) and Brakkam Aviation Management, LLC and The Integral Group LLC (jointly, “Lessee” and the “Assignor”) to Atlanta Executive Aviation, LLC (a joint venture of Assignor), via the Assignment of Lease by Lessee with Consent of Lessor. The County Attorney is authorized to approve the Assignment Document as to form and make all necessary modifications thereto prior to execution. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)
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Requirement for Board Action (Cite specific Board policy, statute or code requirement)
This Agenda Item is presented to the Board of Commissioners pursuant to O.C.G.A. § 36-9-2 which provides that the Board of Commissioners has control of all property belonging to the county and may, by order entered on its minutes, direct the disposal of any real property which may lawfully be disposed of, and O.C.G.A. § 6-3-25 which authorizes the County to lease portions of airport property for an initial term of up to 50 years.
Strategic Priority Area related to this item (If yes, note strategic priority area below)
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: The Fulton County Board of Commissioners approved a Ground Lease Agreement (the “Lease”) between Fulton County, Georgia as Lessor and Brakkam Aviation Management, LLC, and The Integral Group LLC, jointly as Lessee, for 13.879 +/- acres at the Fulton County Executive Airport - Charlie Brown Field at the Board of Commissioners’ meeting held May 5, 2021 as Agenda Item 21-0246. As contemplated in the Lease, Brakkam Aviation Management, LLC, and The Integral Group LLC, is requesting the assignment of their leasehold rights to Atlanta Executive Aviation, LLC, a joint venture limited liability company formed by Brakkam Aviation Management, LLC and The Integral Group, LLC. Approval of the Board of Commissioners is being requested to assign the Lease executed with Brakkam Aviation Management, LLC, and the Integral Group LLC, to Atlanta Executive Aviation, LLC. If approved, the assignment will be effective as of August 1, 2021. There are no changes in the terms or obligations of the underling Lease, except that the Lease will be between the County and the entity formed by Brakkam and Integral.
Community Impact: Approval by the Board of Commissioners to assign the Lease previously executed with Brakkam Aviation Management, LLC, and the Integral Group LLC, to Atlanta Executive Aviation LLC will not impact the lease terms previously approved by the BOC and will have no effect on the community.
Department Recommendation: The Department of Real Estate and Asset Management, the Office of the Fulton County Attorney and the Fulton County Airport Manager recommends approval of the assignment of the Lease with Brakkam Aviation Management, LLC, and the Integral Group LLC, to Atlanta Executive Aviation, LLC, as provided in the existing Ground Lease Agreement.
Project Implications: Approval of the Assignment of Lease by Lessee with Consent of Lessor between Brakkam Aviation Management, LLC, the Integral Group LLC, and Atlanta Executive Aviation, LLC will allow Fulton County to continue to receive annual lease revenue that can be used for the operations of the Fulton County Executive Airport - Charlie Brown Field.
Department Issues/Concerns: None
Community Issues/Concerns: None
History of BOC Agenda Item: Original Ground Lease Agreement approved at the May 5, 2021 meeting as part of Agenda Item 21-0246.