Agenda Item # 10.f.
City Commission Regular Meeting
- Meeting Date:
- 04/18/2016
- Re
- Lease Extension
- Submitted For:
- Nick Mimms
SUBJECT:
Approval of a twenty-four (24) month Lease Extension Agreement between the City of Fort Pierce and FP-DW, LLC and FP-DX, LLC for certain parcels along Indian River Drive, that are being utilized to provide additional parking spaces for the public by the Backus Gallery & Museum.
SUMMARY:
The original Lease Agreement with Location Development Corp. was for a 2-year period effective March 1, 2012, The Lease Agreement included a 1 year extension, which expired February 28, 2015.
The City pays rent on a quarterly basis, which is equal to the total tax bills on the two parcels listed in the Lease as Parcel "W" and Parcel "X",
The City pays rent on a quarterly basis, which is equal to the total tax bills on the two parcels listed in the Lease as Parcel "W" and Parcel "X",
RECOMMENDATION:
Staff recommends approval.
ALTERNATIVES:
Staff will proceed as directed by the City Commission.
RESPONSIBLE STAFF:
Robert V. Schwerer, City Attorney
COORDINATED WITH:
Nicholas C. Mimms, City Manager
Fiscal Impact
- Budgeted Y/N:
- Y
- Fiscal Year:
- 2016
- Account:
- 40141005756360
- Amount:
- TBD Annually
OTHER INFORMATION:
This expense is budgeted and renewed with the same terms as previous contract, which is payment of the annual tax bill on a quarterly basis. The 2015 tax bill total for both parcels was $7,038.87.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| City Manager | Jennifer Robinson | 04/13/2016 11:38 AM |
| Finance Department | Johnna Morris | 04/13/2016 12:58 PM |
| City Manager | Nick Mimms | 04/13/2016 05:24 PM |
- Form Started By:
- Jennifer Robinson
- Started On:
- 04/13/2016 09:44 AM
- Final Approval Date:
- 04/14/2016