Item No: 4.C.3.
Meeting Date: August 13, 2012
From: Ken Thomas, Director of Housing & Economic Development
Subject: Resolution authorizing a lease extension with McGee Services, Inc., DBA Mr. Handyman to lease space at the Leesburg Business Incubator for an additional two years.
Staff recommends approval of the lease extension with McGee Services, Inc., to lease space at the Business Incubator for an additional two years.
Mr. Handyman has been an Incubator Client since June 2009, and his lease agreement expired June 1st 2012. During the past two years, a number of economic factors have prevented Mr. Handyman and other small businesses from growing and creating jobs such as rising material cost and declining consumer confidence. However, Mr. Handyman’s customer base has been moving upwards and revenues are now beginning to move forward as well. Mr. Handyman currently employs four, and is seeking to hire one new employee.
According to Gordon Hogan, UCF Director of Business Incubation states typical lease agreements in the UCF business incubator system have five year terms. Mr. Hogan also indicated that some companies move out prior to five years and a percentage will remain several years after the five year term expires. The Leesburg Business Incubator purpose is to produce successful firms that will leave the program financially viable and freestanding. Therefore, staff is requesting approval to grant Mr. Handyman a two year extension based upon the economic viability of their company growth potential.
1. Approve the two year extension for McGee Services, Incorporated, DBA Mr. Handyman; or
2. Such alternative action as the Commission may deem appropriate
The lease will generate $7,800 over the two year extended period.
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. _001-0000-362-0101___
Project No. ___________________
WF No. ______________________
RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A LEASE EXTENSION WITH MCGEE SERVICES, INCORPORATED TO LEASE SPACE AT THE BUSINESS INCUBATOR FOR AN ADDITIONAL TWO YEARS; 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 McGee Services, Incorporated, DBA Mr. Handyman hereafter referred to as “LESSEE whose address is 24629 Stillridge Court, Leesburg, Florida 34748, for small home improvements.
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 13th day of August 2012.