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 Center for the Arts, for the Northwesterly portion of 415 W. Magnolia St (Vista Pak Building)
Staff Recommendation:
Staff recommends approval of a modified lease to replace the existing lease for the northwesterly portion of 415 West Magnolia Street.
Analysis:
In 2005, the Leesburg Center for the Arts relocated from the Historic Elks Club Building to their current location in the Vista Pak building at 415 W. Magnolia Street. The term of the original lease was for three years. This lease is scheduled to terminate at the end of December 2007.
The Leesburg Center for the Arts 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 Center for the Arts that contains the same terms and conditions as in the existing lease, except that the annual rent will be $10.00. Staff and the Center for the Arts have agreed that if either party wishes to terminate the lease there are two 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.
This new agreement will enable both the Leesburg Center for the Arts and the Leesburg Partnership 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 Center for the Arts will pay rent in the amount 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, impact fees, estimated to be $11,299.66 per year, at the current rates.
Submission Date and Time: 11/21/2007 6:16 PM
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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 ART FESTIVAL, INC. DBA LEESBURG CENTER FOR THE ARTS FOR THE NORTHWESTERLY PORTION OF THE BUILDING OWNED BY LESSOR AND LOCATED 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 ART FESTIVAL, INC., Doing Business As LEESBURG CENTER
FOR THE ARTS, whose address is 415 West Magnolia Street, Leesburg, Florida, for the premises located 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 _27th____ day of __November_______ 2007.
__________________________
Mayor
ATTEST:
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City Clerk