Approval of a proposed 12-month Lease Agreement between the City of Fort Pierce and Fort Pierce Resorts, LLC, to lease six (6) parcels along Indian River Drive, that are being utilized to provide additional parking spaces for the public.

Currently, the City is in the one-year extension option of a Lease Agreement with Fort Pierce Resorts, LLC to lease two parcels plus accounting fees of $1,152.00 and $240.00 for property management. The city has paid rent on a quarterly basis, which is equal to the total tax bills on the two parcels. The two parcels have yielded 99 public parking spaces. Fort Pierce Resorts, LLC owns four (4) vacant parcels immediately adjacent to the leased parcels. To address the need for additional public parking for access to our downtown, staff discussed leasing four additional parcels to expand the temporary parking lot. It is estimated the four parcels will yield 129 additional parking spaces, which will increase the number of available spaces for all six parcels to 225 spaces. 

The proposed agreement consolidates all the parcels under one lease and this new Lease Agreement is to replace the prior lease and begin a full year-long lease upon the effective date. The attached Lease Agreement is approved as to Form and Correctness. 

If approved, the city will pay rent, in the amount ot the taxes paid to the City of Fort Pierce, plus accounting fees of $1,152.00 and $240.00 for property management fees on a quarterly basis. The total estimated cost of the lease is $5,657.01 The lease amount is equal to the total of the 2021 taxes paid to the City of Fort Pierce plus additional fees for the six (6) parcels shown and depicted in lease Exhibit "A" (Proposed Lease Area).


 

Staff recommends approval of lease agreement. 

Staff will proceed as directed by the City Commission.

Audria Moore-Wells, Special Projects Coordinator

Mike Reals, Public Works Director