AGENDA MEMORANDUM

Meeting Date: December 14, 2009

From:                          Kenneth L. Thomas, Director of Housing & Economic Development          

Subject:                      Resolution authorizing a Lease Agreement with Buildtelligence Web Solutions, LLC

Staff Recommendation:

Staff recommends approval of the lease agreement with Buildtelligence Web Solutions, LLC for the purpose of occupying a City owned building located at 8500 U.S. Highway 441, Leesburg, Florida.

Analysis:

The subject building is formally known as the “Pringle Building.”  Buildtelligence will occupy the entire building square footage for the purpose of providing numerous technology services such as website optimization, search engine optimization, reputation management, website hosting and domain name services.  Buildtelligence is focused on helping their clients effectively implement technology on the internet. 

The terms of the lease agreement are as follows: 

Initial Terms	Amount Due Per Month
Year 1 Dec 2009 to May 2010	$0
Year 1 June 2010 to Dec 31, 2010	$5,000
Year 2 Jan 2011 to Dec 31, 2011	$5,250
Year 3 Jan 2012 to Dec 31, 2012	$5,500
Year 4 Jan 2013 to Dec 31, 2013	$5,750
Year 5 Jan 2014 to Dec 31, 2014	$6,000
Second Term (If Renewed Timely)
Year 6 Jan 2015 to Dec 31, 2015	$6,250.00
Year 7 Jan 2016 to Dec 31, 2016	$6,500.00
Year 8 Jan 2017 to Dec 31, 2017	$6,750.00
Year 9 Jan 2018 to Dec 31, 2018	$7,000.00
Year 10 Jan 2019 to Dec 31, 2019	$7,250.00

Buildtelligence is rapidly growing company with several projects already completed and have a host of new projects on the horizon that will provide new jobs to the area

Options:

1.  Approve the lease agreement and/or;

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

Over the 1^st term of the contract the City will realize a total of $305,000 and if the 2^nd term is executed the amount will total $405,000 with a grand total of $710,000.

Submission Date and Time:    12/17/2009 10:09 AM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT WITH BUILDTELLIGENCE WEB SOLUTIONS, LLC FOR THE PURPOSE OF OCCUPYING A CITY OWNED BUILDING LOCATED AT 8500 SOUTH HIGHWAY 441, LEESBURG, FLORIDA; AND PROVIDING AN EFFECTIVE DATE..

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with Buildtelligence Web Solutions, LLC whose address is 18130 US Highway 441, Mount Dora, Florida 32757 for the purpose of leasing a City owned building located at 8500 US Highway 441, Leesburg, Florida 34748.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _21st____ day of _December________ 2009.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk