Agenda Item # 11.g.
City Commission Regular Meeting
- Meeting Date:
- 12/18/2017
- Re
- Lease Agreement for Parking Lot
- Submitted For:
- Mike Reals
SUBJECT:
Approval of a twenty-four (24) month Lease Extension Agreement between the City of Fort Pierce and Fort Pierce Resorts, LLC for certain parcels along Indian River Drive, that are being utilized to provide additional parking spaces for the public.
SUMMARY:
The lease agreement with FP-DW, LLC and FP-DX, LLC was approved at the March 6, 2017 Commission meeting. The property recently sold to Fort Pierce Resorts, LLC and they wish to continue a lease agreement with the City of Fort Pierce. This lease will begin on January 1, 2018 and shall be for a period of twenty four (24) months with the option of one twelve (12) month extension.
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:
Public Works Department
COORDINATED WITH:
City Attorney
Fiscal Impact
- Budgeted Y/N:
- Y
- Fiscal Year:
- 2018
- Account:
- 40141005754430
- Amount:
- TBD Annualy
FISCAL IMPACT:
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 2016 tax bill for both parcels was $7,038.32
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Finance Department | Karen Logue | 12/06/2017 07:12 PM |
| City Manager | Nick Mimms | 12/12/2017 11:59 AM |
- Form Started By:
- mreals
- Started On:
- 12/06/2017 04:11 PM
- Final Approval Date:
- 12/12/2017