Item 3 — Thursday, February 26, 2026

Current official agenda wording

Authorize negotiation and execution of a building and ground lease with Federal Express Corporation for approximately 76,757 square feet of the cargo building at 9301 Cargo Ave., Austin, Texas 78719, 146,033 square feet of the airport cargo apron area, 79,333 square feet of the cargo handling area, 163,465 square feet of parking area, and 11,448 square feet of equipment storage area at Austin-Bergstrom International Airport, for a term of 10 years, commencing on January 1, 2026. Funding: This item is projected to be revenue neutral in the Fiscal Year 2025-2026 Austin Aviation Operating Budget. The item consolidates the tenant’s existing contracts related to the lease and use of cargo apron areas and cargo handling areas into a new 10-year agreement. Accordingly, the tenant’s projected total rental revenue is unchanged for Fiscal Year 2025-2026.