Staff recommends approval of the Ground Lease Agreement with Phillips Sales, Inc. d/b/a Phillips Toyota.
Phillips Sales, Inc., d/b/a Phillips Toyota, has requested to use the City owned vacant lot that is located between That Company/Buildtelligence and Lake Region Urgent Care. The site will be used to store vehicles (cars and trucks) while a new showroom is being built for the Phillips Toyota dealership located across the highway. It should be noted that the same land was leased to Phillips Toyota approximately five years ago while a new service center was being built.
At the present time this property is vacant so no income is being generated from the parcel of land. The lease stipulates the land will be returned to the City in good condition, i.e., no ruts, no debris, and all barren areas covered with sod, after the lease term has expired.
Proof of liability insurance coverage is attached and the City has been named as additional insured. The lease is for a one year period. Should the dealership need the property for more than one year, the Lessee will be deemed a “holdover tenant” and rent will be made on a month-to-month basis.
The Airport Advisory Board reviewed this agreement at their August 11, 2010 meeting and recommended approval.
1. Recommend approval of the Ground Lease Agreement
2. Such alternative action as the Commission may deem appropriate.
This agreement will generate $16,242.24 in revenue to Leesburg International Airport during the initial one-year term.
Prepared by: ____Charlie Weller_____
Attachments: Yes_X___ No ______
Advertised: ____Not Required ____X__
Attorney Review : Yes_X__ No ____
Reviewed by: Dept. Head ________
Finance Dept. _______JB_________
Deputy C.M. ___________________
City Manager ___________________
Account No. __001-0000-362-0110_
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A GROUND LEASE AGREEMENT WITH PHILLIPS SALES, INC. D/B/A PHILLIPS TOYOTA FOR SPACE AT LEESBURG INTERNATIONAL AIRPORT; 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 a Ground Lease Agreement with Phillips Sales, Inc. d/b/a Phillips Toyota whose address is 8629 South U.S. Highway 441, Leesburg, Florida 34788 space at Leesburg International Airport.
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 23rd day of August, 2010.