AGENDA MEMORANDUM

Meeting Date: January 25, 2010

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

Subject:                      Resolution authorizing a lease agreement with The Imagination Shop, Inc., to lease space at the Leesburg Business & Technology Center/Incubator

Staff Recommendation:

Staff recommends approval of the lease agreement with The Imagination Shop, Inc., to lease space at the Business Incubator for a three-year term.

Analysis:

The Business Incubator currently has two office spaces for new and emerging businesses that will provide a service or product to our community.  The proposed lease agreement will allow The Imagination Shop, Inc., to locate their operation in the Business Incubator for a three year period. The Imagination Shop, Inc. is a multimedia company specializing in broadcast video production and website design and development.  Within the next three years, The Imagination Shop, Inc. plans to hire at least one new employee.

Options:

1.  Approve the three-year contract with The Imagination Shop, Inc., for lease space at the Business Incubator; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact:  The lease agreement will generate $3,000 per year.

Submission Date and Time:    1/20/2010 5:50 PM____

Department: Housing & Economic Dev Prepared by:  Tracie Hodge Attachments:         Yes__X__   No ______ Advertised:   ____Not Required __X__ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

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

Account No. 001-0000-362-0101  __ 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 THE IMAGINATION SHOP, INC., FOR OFFICE SPACE AT THE BUSINESS INCUBATOR, AND PROVIDING AND 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 The Imagination Shop Inc., whose address is 834 Berry Hill Circle, Fruitland Park, FL  34731, for broadcast video production and website design and development. 

 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 25th day of January 2010. 

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk