Item No: 5E.
Meeting Date: May 29, 2012
From: Jay M. Evans, City Manager
Subject: Resolution authorizing an amendment to the lease with the Leesburg Boating Club, Inc., providing an additional ten years on the term of the lease and adding additional land
Staff recommends approval of the attached resolution amending the lease with the Leesburg Boating Club, Inc., providing an additional ten years on the term of the lease and adding additional land.
The Leesburg Boating Club has occupied its present building in Venetian Gardens since July, 1962. The club is requesting the City extend their lease an additional 10 years and add an additional 50 feet on the west side of the building. The reason for the lease extension is to allow the club to amortize a needed roof replacement, and the additional space is needed for canoe and kayak storage and staging.
1. Approve the Resolution amending the lease; or
2. Such alternative action as the Commission may deem appropriate
The fiscal impact is unrealized rental income for an additional ten years. No appraisal has ever been done of the property, so the impact is not quantifiable.
Prepared by: ______________________
Attachments: Yes____ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. ___________________
City Manager ___________________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE A SECOND AMENDMENT TO LEASE BETWEEN THE CITY OF LEESBURG AND LEESBURG BOATING CLUB, INC. FOR THE PURPOSE OF EXTENDING THE TERM OF THE LEASE FOR AN ADDITIONAL TEN YEARS AND ADDING ADDITIONAL LAND TO THE LEASE, 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 and directed to execute a Second Amendment to Lease between the City of Leesburg and Leesburg Boating Club, Inc., for the purpose of extending the term of the Lease for an additional ten years and adding additional land to the Lease.
THIS RESOLUTION shall take effect upon its passage and adoption according to law.
PASSED AND ADOPTED at the regular meeting of the City Commission of the City of Leesburg, Florida, held on the 29th day of May, 2012.
THE CITY OF LEESBURG, FLORIDA
SECOND AMENDMENT TO LEASE
THIS AMENDMENT is entered into on the day of May, 2012, between THE CITY OF LEESBURG, FLORIDA, as Landlord, and LEESBURG BOATING CLUB, INC. as Tenant,
THAT Landlord and Tenant entered into a Lease Agreement dated July 16, 1962 (the "Lease"), for premises on Dozier Circle in Leesburg, Florida. The Lease was renewed in 1991 and will expire on July 31, 2022. An Amendment to Lease was entered into in April, 2011, to permit the fencing of certain areas and allow Tenant to restrict use of its dock facilities. Tenant now has requested additional changes to the Lease to extend the term and add additional property, and Landlord has agreed to the requested changes. The parties have entered into this Amendment to set forth those changes.
NOW THEREFORE, for and in consideration of the repairs and improvements to be made by Tenant, the mutual covenants and promises set forth in this Amendment, and other good and valuable considerations, the parties agree as follows:
1. The Term of the Lease, currently due to expire on July 21, 2022, is hereby extended so as to expire on July 31, 2032.
2. Section 1 of the Lease is amended to specify that the property subject to the Lease shall be as described as follows:
Commencing at the Southwest corner of Block 45 of the City of Leesburg, according to the Official Map thereof, as recorded in Plat Book 2, Page 19 of the Public Records of Lake County, Florida; Run South along the Southerly projection of the East boundary line of said Block 45 for a distance 650 feet to the Point of Beginning of this description; thence from said Point of Beginning run West for a distance of 148 feet; thence run South to the waters of the Lake Harris Yacht Basin; thence run easterly along said waters a distance of 190 feet, more or less, to a point that is due south of a point that is 42 feet east of the point of beginning; thence run north to said point laying 42 feet east of the Point of Beginning; thence run West for a distance of 42 feet to the Point of Beginning
3. Except as otherwise modified by this Second Amendment and the previous Amendment referred to above, the Lease shall remain in full force and effect as originally executed, with the term thereof having been extended as recited above.
IN WITNESS WHEREOF, the parties have executed this Amendment.
WITNESSES (two required): LEESBURG BOATING CLUB, INC.
RICH KELLEY, President
THE CITY OF LEESBURG, FLORIDA
SANNA HENDERSON, Mayor
BETTY RICHARDSON, City Clerk
APPROVED AS TO FORM AND CONTENT: