AGENDA MEMORANDUM

Meeting Date: September 22, 2008

From:                          Kenneth L. Thomas, Director of Housing & Economic Development

Subject:                      Resolution authorizing a lease agreement with Radius Advertising to lease space at the Leesburg Business & Technology Center/Incubator

Staff Recommendation:

Staff recommends approval of the lease agreement with Donald A. Caputo D/B/A RADIUS Advertising, to lease space at the Business Incubator for a three-year term.

Analysis:

The Business Incubator currently has eight office spaces for new and emerging businesses that will provide services and/or a product to our community.  The proposed lease agreement will allow RADIUS Advertising to locate their operation in the Business Incubator for a three-year period.  RADIUS Advertising is an advertising and publishing company that will produce high quality magazines for the Lake County area.  The owner has over 10 years of experience.

Options:

1.   Approve the three-year contract between RADIUS Advertising and the City of Leesburg Business Incubator for lease space; or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

The lease term will generate $10,800 over the life of the agreement.

Submission Date and Time:    9/17/2008 5:44 PM____

Department:  Housing & Econ. Dev. ______________________ Prepared by:  ______________________                      Attachments:         Yes__x__   No ______ Advertised:   ____Not Required __x____ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head Kenneth Thomas________ Finance  Dept. __________________                                    Deputy C.M. ______EFS_________                                          Submitted by: City Manager ___________________

Account No. _001-0000-362-0101__ 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 AN AGREEMENT WITH RADIUS ADVERTISING FOR LEASE SPACE AT THE BUSINESS INCUBATOR; 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 Don A. Caputo D/B/A RADIUS Advertising, whose address is 1007 Royal Oak Blvd. Leesburg, FL 34749, for Advertising & Publishing Services.

 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 22nd day of September 2008.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk