8.a.
FPRA Regular Meeting Agenda
- Meeting Date:
- 04/15/2019
- Re
- Cobb's Landing Lease Reassignment
- Submitted For:
- Nick Mimms
SUBJECT:
Approval of the assignment of the Cobb's Landing Lease Agreement dated July 17, 2017 between the Fort Pierce Redevelopment Agency and Ianco, LLC to Donna Qvarnstrom and Diego Larroude, owners of Salty 4 Eleven, LLC.
SUMMARY:
On April 1, 2019, Colin LLoyd, as a Managing Member of Ianco, LLC, provided written notification of the intention to assign Ianco's interest in the Lease Agreement for Cobb's Landing to Donna Qvanstrom and Diego Larroude. The lease transfer will occur on May 15, 2019.
RECOMMENDATION:
Staff recommends approval of the lease assignment, which has been approved as to form and correctness by the City Attorney.
ALTERNATIVES:
Staff will proceed as directed by the City Commission.
RESPONSIBLE STAFF:
Dean Kubitschek, Marina Manager
COORDINATED WITH:
Linda Cox, City Clerk
Fiscal Impact
- Budgeted Y/N:
- Y
- Fiscal Year:
- 2019
- Amount:
- 6,500.00/month
OTHER INFORMATION:
Pursuant to the terms of the lease agreement, tenant shall pay 7.25% of all gross revenue and sales (exclusive of sales tax) or $6,500 per month, whichever is greater.