AGENDA MEMORANDUM

 

 

 

Meeting Date:           November 26, 2007

 

From:                          Edward F. Smyth, Jr., Interim Deputy City Manager

 

Subject:                      Resolution  authorizing a Lease Agreement with the Leesburg Partnership, Inc. for the Easterly portion of 415 W. Magnolia Street (Vista Pak Building)

 

 

Staff Recommendation:

Staff recommends approval of a modified lease to replace the existing lease for the easterly portion of this property.

Analysis:

In 2005, the Leesburg Partnership relocated from the Historic Leesburg Women’s Club Building to their current location in the Vista Pak building at 415 W. Magnolia St.  The term of the original lease was for three years.  This lease is scheduled to terminate at the end of March 2008.

The Leesburg Partnership wishes to continue to lease these premises until such time as the City of Leesburg determines it has a need for either the building or the building site.  Staff has negotiated a new agreement with the Partnership that contains the same terms and conditions as in the existing lease, except that the annual rent will be $10.00.Note:  Thought Commission said “leave it as it is.”  Staff Staff and the Partnership agree if either party wishes to terminate the lease there are two (2) methods to accomplish this termination:  (a) either party can provide a 30 day written notice prior to the end of the then current term of the lease; or (b) either party can provide a 60 day written notice at any time during any term of the lease.

The Partnership has agreed to terminate their existing lease if the new agreement is approved by the City Commission, in favor of the new agreement.  This will enable both the Leesburg Partnership and the Leesburg Center for the Arts to have parallel agreements with the same expiration dates.

Options:

1.  Approve the Lease Agreement; or

2.  Such alternative action as the Commission may deem appropriate

 

 

 

 

 


 

 

Fiscal Impact

The Leesburg Partnership, Inc. will pay rent of $10.00 per year.  The City of Leesburg will pay for their share of all utilities serving the premises, other than telephone and data/telecommunications or cable television, including but not limited to electricity, water, natural gas, wastewater collection and disposal, solid waste collection and disposal, and , impact fees, estimated to be $11,299.66 per year, at the current rates.

Submission Date and Time:    11/21/2007 6:15 PM

 

Department: ______________________

Prepared by:  ______________________                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________________                                     

                              

Deputy C.M. ___________________                                                                         

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 WITH THE LEESBURG PARTNERSHIP, INC. FOR THE EASTERLY PORTION OF THE BUILDING OWNED BY LESSOR AT 415 WEST MAGNOLIA STREET, LEESBURG, FLORIDA; 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 Leesburg Partnership, Inc., whose address is 415 West Magnolia Street, Leesburg, Florida, for the premises at 415 W Magnolia Street aka Vista Pak Building.

 

             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 _26th____ day of _November________ 2007.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk