Parking Committee Recommendation regarding the Fort Pierce Resorts LLC Lease renewal of six parcels located west of Indian River Drive currently leased by the City for additional public parking. 

The City's current lease with Fort Pierce Resorts, LLC is for six parcels on the west side of Indian River Drive. The lease expiration is June 6, 2023. In preparation of extending/renewing the existing lease, staff reached out to the property owners who requested an increase in the monthly lease amount by $1500. The total increase to the City would be $18,000 annually. 

The current lease agreement is attached. The table below shows the calculations of payment in accordance with the terms of the current lease agreement. These amounts would increase as a result of the property owner request for additional payments.
 

	Parcel #	Total SLC 2022 Tax Bill	2022 Taxes Paid to the City
1.	2403-801-0023-000-9	$1807.59	$  502.46
2.	2403-801-0024-000-6	$2977.36	$  826.55
3.	2410-503-0001-000-6	$99.37	$     15.18
4.	2410-503-0002-000-3	$778.57	$   211.00
5.	2403-705-0108-000-4	$5647.60	$1,558.23
6.	2403-705-0104-000-6	$106.57	$     28.84
		$11,417.06 (TOTAL)	$3,142.26 (SUBTOTAL)
Qtly Fees: Prop. Mgmt. (60.00)+Accounting ($288)			$1,392.00
TOTAL			$4,534.26 paid to the City

The Owners' proposal was presented to the Parking Committee at their June 14, 2023 meeting. The consensus of the committee was to attempt to negotiate with the owner to reduce the requested increase.

 

Staff is requesting that the City Commission recommend opening negotiations with the Owner and/or his representative to see if a lower increase can be agreed upon.

The City can agree to the $1500 per month increase.

Jack Andrews
 

Audria Moore-Wells