Termination of Agreement to Lease and Improve the Old St. Anastasia Catholic School with The Lindsay School of the Arts, Inc.

On October 21, 2019, the Fort Pierce Redevelopment Agency entered into an agreement for the lease and improvement of the Old St. Anastasia School building at 110 North 10th Street with The Lindsay School of the Arts, Inc. The original lease agreement required that the tenant make substantial progress toward the restoration of the building within one year of the effective date and substantially complete the renovations within two years of the effective date. The COVID-19 pandemic constituted a force majeure event which provided for tolling of deadlines. The force majeure event ended on June 26, 2021, and the first amendment to the agreement was executed on August 10, 2021. The amendment provided new deadlines for restoration progress. In accordance with the amendment, if substantial progress toward the restoration is not completed within 28 months of the effective date, the landlord may terminate the lease. The 28-month deadline was February 21, 2022.

In accordance with Article 2.2(a) of the First Amendment to Agreement to Lease and Improve the Old Anastasia Catholic School, substantial progress toward the restoration of the building has not been made; therefore, staff recommends termination of the subject lease by written notice to the tenant.

Staff will proceed as directed by the FPRA Board.

Nicholas C. Mimms, City Manager/FPRA Director
Shyanne Harnage, Economic Development Manager

Tanya Earley, City Attorney