The City of Houston approved a Lease and Services Agreement between the City of Houston and the Houston Zoo Development Corporation on June 26, 2002. (Ordinance No.2002-0574). The City of Houston made a first amendment to the Lease and Services Agreement on May 31, 2017. (Ordinance No. 2017-389). A second amendment to the Lease and Services agreement was approved by council on April 18, 2018. (Ordinance No. 2018-334).
To address the public health emergency with regards to the 2019 Coronavirus pandemic, the Houston Parks and Recreation Department recommends approval of an Ordinance to authorize a third amendment to the Lease and Services Agreement between the City of Houston, Texas, and Houston Zoo Development Corporation.
The third amendment will expedite a onetime payment of $10,407,622 in lieu of 12 monthly installments of the annual management fee. The onetime payment is to be made on or before August 31, 2020, for the 2021 lease.
Funding for this item is included in the FY2021 Adopted Budget. Therefore, no Fiscal Note is required, as stated in the Financial Policies.
Director's Signature:
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Steve Wright, Director
Houston Parks and Recreation Department