Subject:
Title
Ninth Amendment to the Lease Agreement with Northside Square Holdings, LLC to extend the lease for the Property Appraiser location at 29269 U.S. Highway 19 North, Clearwater.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Ninth Amendment to the Lease Agreement (Amendment) with Northside Square Holdings, LLC (Landlord) to extend the lease for the Property Appraiser location at 29269 U.S. Highway 19 North, Clearwater (Leased Premises).
• The Amendment extends the lease for two (2) years to July 31, 2026.
• There is one (1) option to renew the Lease Term for an additional one (1) year term (Option Period).
• The amended lease expiration aligns with the relocation of the Property Appraiser to the newly constructed North County Service Center to be built at 29582 U.S. Highway 19 North, Clearwater.
• The base rent for August 1, 2024, through July 31, 2025, remains unchanged at $21.53 per square foot and then will increase annually by three percent (3.0%). This base rent aligns with market rents in the area.
• The total FY25 impact of this amended lease is $78,006.19 and funding is sufficiently included in the FY25 Budget of the Department of Administrative Services in the General Fund. Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach
5.2 Be responsible stewards of the public’s resources
5.3 Ensure effective and efficient delivery of county services and support
Summary:
The Amendment extends the lease of the Property Appraiser office located at Northside Square.
Background/Explanation:
The Property Appraiser has been located at the Leased Premises since May 11, 1993, servicing north-county customers. Since that time, the lease term and square footage have been amended from time to time. The current leased office space consists of 3,605 square feet.
The Amendment extends the lease for two (2) years to July 31, 2026, with one (1) option to renew the Lease Term for an additional one (1) year term and also increases the rent on each anniversary of the Commencement Date by three percent (3.0%).
The proposed lease term aligns with the planned relocation of the Property Appraiser to the newly constructed North County Service Center to be built at 29582 U.S. Highway 19 N, Clearwater.
Fiscal Impact:
The total FY25 impact of this amended lease is $78,006.19 and funding is sufficiently included in the FY25 Budget of the Department of Administrative Services in the General Fund. The Amendment is included in the FY23 Adopted Budget and the preliminary FY24 budget submission from the department. The annual amount expected to be spent on the Amendment is approximately the same as has been spent in most recent years.
Delegated Authority:
Authority for the County Administrator to sign this Ninth Amendment to the Lease Agreement is granted under Code Section 2-62(a)(2).
Staff Member Responsible:
Diana Sweeney, Division Director, Real Property and Asset Management
Joe Lauro, Director, Department of Administrative Services
Partners:
Pinellas County Property Appraiser
Attachments:
Ninth Amendment
Eighth Amendment
Lease Agreement
Location Map