The City of Houston City Council approved Amendment No. 1 to a Lease Agreement with 1859-Historic Hotels, Ltd. The original 10-year lease, approved on September 19, 2018, covered approximately 61,325 square feet of improved land including parking and greenbelt adjacent to the lessee's property at 8181 Airport Blvd. The total rent for the original lease term was $564,375.00. This amendment grants 1859-Historic Hotels, Ltd. the option to mortgage the leasehold estate, subject to certain conditions. This modification aims to align the lease with other existing leases at William P. Hobby Airport (HOU). The amendment has no fiscal impact on the budget and requires no additional spending authority.