The City and County of Denver approved a First Amendment to an existing ground lease agreement with Airport Resort Parking, LLC. The original agreement, dating back to July 2005, allowed Airport Resort Parking to develop vacant land at Denver International Airport into a 'car condo' concept, offering individual one-story garages for rent. This amendment extends the lease term by two years, with three additional one-year options, pushing the potential end date to March 31, 2031. It also updates various boilerplate clauses to align with current laws and policies and brings rent payment terms in line with similar airport leases. Notably, the amendment introduces a new requirement for a privilege fee of ten percent (10%) of the tenant's monthly gross revenues, in addition to ground rent calculated at $1.03 per square foot per year.