AGENDA MEMORANDUM

 

 

Meeting Date:           May 8, 2006

 

From:                          Ron Stock, City Manager

 

Subject:                      Resolution authorizing a Lease Agreement between the City of Leesburg and with Randall C. Boyd

 

 

Staff Recommendation:

 

Staff recommends approval of the lease agreement with Randall C. Boyd for the “True Temp” property known as the “True Temp” building.

 

Analysis:

 

On March 13, 2006, the City Commission authorized the purchase of the “True Temp” building located at 216 South Sixth Street from Randall C. Boyd.  Mr. Boyd now desires to lease the property to allow time for the tenant to relocate their business.  The lease agreement is for a six (6) month period beginning March 30, 2006 and ending September 30, 2006.  There is a renewal option for one (1) additional six-month term at the end of this time, however the option is only to protect the tenant for construction delays and the tenant has informed us that he expects to vacate the property before the end of the first six-month term.  The monthly rent for the first three months will be $1,125.00 plus applicable taxes.  The charge for the second three months will be $1,500.00 plus tax.  If the renewal option is exercised, the monthly rent for that additional six-month period will increase to $2,500.00 plus tax.  The terms of the agreement also require the lessee to maintain the building including the roof, plumbing, electrical and HVAC system.

 

Options:

1.  Approve the Lease Agreement between the City of Leesburg and Randall C. Boyd

2.  Such alternative action as the Commission may deem appropriate

 

Fiscal Impact: 

 

The City will receive rent payments totaling $7,875.00 for the first six-month term of this agreement.  If the renewal option is exercised, the City will receive an additional $15,000.00 in rent payments.

 

Submission Date and Time:    5/5/2006 12:53 PM5/3/2006 12:38 PM5/2/2006 10:02 AM4/27/2006 3:26 PM4/26/2006 6:20 PM____

 

Department: ____City Manager________

Prepared by:  ____Ron Stock____  _____                     

Attachments:         Yes __X_   No ______

Advertised:   ____Not Required __X___                     

Dates:   __________________________                     

Attorney Review :       Yes __X_  No ___

                                                 

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________________                                     

                              

Deputy C.M. _________RS__________                                                                         

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 BETWEEN THE CITY OF LEESBURG AND RANDALL C. BOYD; 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 Lease Agreement between the City of Leesburg and Randall C. Boyd, whose address is 1778 Imperial Palm Drive, Apopka, Florida 32712, for property located at 216 South Sixth Street in Leesburg, Florida, in the form attached as Exhibit “A” to this resolution.

 

             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 8th day of May, 2006

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk