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Ratification of the Amendment to the Extension to the Concession Agreement Between LJH, LTD. and the City of Lewisville.
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ADMINISTRATIVE COMMENTS:
In November 2024, the United States Army Corps of Engineers (USACE) executed Lease No. DACW63-1-24-0613 for Park and Recreational Areas on Lewisville Lake with the City of Lewisville to replace Lease No. DACW63-1-00-0820 upon expiration on April 14, 2025. LJH was the concessionaire for Eagle Point Marina under the former lease. In May 2025, City Council approved an agreement to extends the terms of the original concession agreement with LJH but excluded the property leased to Sneaky Pete’s and its operations, allowing LJH to continue operation of the marina and uplands area during the term of the agreement. The first extension of the agreement was set to expire on October 14, 2025. The planned marina operator, Suntex, has been negotiating a buy-out of the marina business and improvements from LJH but due to the complexity of the deal it was not feasible to close before the term of the original concession agreement or the first extension. This continuation of this short-term agreement with LJH is needed to allow the parties the ability to close the deal while maintaining continuity of operations. It is contingent upon LJH continuing to work toward the close of the Suntex purchase transaction. Accordingly, the term of this agreement expires on the earlier of November 28, 2025, or the closing date of the purchase agreement between Suntex and LJH.
RECOMMENDATION:
That the City Council ratify the amendment to the extension agreement as set forth in the caption above.