Approve Notice to terminate Agreement dated October 27, 2020 to Lease and Improve the 1134 and 1138 Avenue D with Lincoln Park Young Professionals in accordance with Section 16(a) of the lease agreement.

At the May 20, 2024 meeting, the City Commission voted to authorize termination of the agreement with the Lincoln Park Young Professionals to Lease and Improve 1134 and 1138 Avenue D.

Since the FPRA is a dependent special district of the City of Fort Pierce, the Board approved the Notice to Terminate at its June 11, 2024 meeting. 

Background:
On October 27, 2020, the Fort Pierce Redevelopment Agency entered into an agreement with the Lincoln Park Young Professionals to lease and improve 1134 and 1138 Avenue D. The initial term of the lease was set for five (5) years, beginning on the effective date, with an option to extend an additional five (5) years. This agreement included four deadlines for the tenant, three of which were required to be met within a year of the effective date of the lease agreement. The first deliverable was completed April 30, 2022, the second deliverable was completed July 7, 2022, and work on the third deliverable to install landscaping, lighting, fencing, seating, and parking has not begun. The fourth deliverable was dependent on the completion of the other deliverables and involved providing project status reports and various stages of construction. On April 29, 2024, staff met with Lincoln Park Young Professionals for a project update. During this meeting, the members of the organization provided a verbal notification of their decision to terminate the lease agreement with the FPRA Board.  

At the May 14, 2024 FPRA meeting, the Board voted to authorize termination of the agreement with the Lincoln Park Young Professionals to Lease and Improve 1134 and 1138 Avenue D. 

Approve.

Staff will proceed as directed by the FPRA Board.

Audria V. Moore, Special Projects Coordinator

Nicholas C. Mimms, P.E., ICMA-CM, City Manage
City Attorney's Office