Subject:
Title
Fourth Amendment to Lease Agreement with TMT Properties-Belcher Commons LLC to extend the term of the County’s lease at 2189 Cleveland Street, Suite 263, Clearwater, for 3 years and 21 days.
Body
Recommended Action:
Approval and execution by the County Administrator of a Fourth Amendment to Lease Agreement with TMT Properties-Belcher Commons LLC, to extend the County’s lease at 2189 Cleveland Street, Suite 263, Clearwater, for 3 years and 21 days.
• County executed a Lease Agreement dated October 9, 2014, to lease office space at Belcher Commons for Pinellas County Veterans Services, for an initial term of five (5) years.
• The lease term was subsequently extended, and the current term is scheduled to expire on March10, 2026.
• The Fourth Amendment will extend the lease term for 3 years plus 21 days, from March 11, 2026, through March 31, 2029, with one 1-year renewal option. Under the Agreement, County reserves the right to terminate the Agreement early, for any reason, on 120 days prior notice to the landlord.
• At the beginning of the extended term, annual rent increases by 4.0%, to $54,930.72 ($4,577.56 month).
• The annual rent does not exceed fair market value.
• Funding for payment of rent during FY26 is partially included in the FY26 Operating Budget for CPM in the General Fund. Both OMB and the Department believe that the remainder of the FY26 funding can be absorbed due to lapse savings in other areas. Funding for FY27 and future years will be dependent on the adoption of the annual County Operating Budget.
Strategic Plan:
Smart Service Delivery
4.2 Achieve and maintain a high level of customer satisfaction
Summary:
The Fourth Amendment will extend the term of the County’s lease at Belcher Commons (for Pinellas County Veterans Services) through March 31, 2029.
Background/Explanation:
The County has leased the premises since 2014. The current term of the lease is scheduled to expire on March 10, 2026. Veterans Services desires to extend the term for another 3 years.
Fiscal Impact:
Beginning March 11, 2026, annual rent will increase by 4.0%, to $54,930.72 ($4,577.56/month). Beginning April 1, 2027, annual rent will increase to $57,139.80, and annually thereafter by 4.0%.
Funding for rent payable during the portion of the lease term falling within FY26 is included in the FY26 Operating Budget for CPM in the General Fund.
Delegated Authority:
Authority for the County Administrator to sign the Fourth Amendment is granted under Code Section 2-62(a)(2).
Staff Member Responsible:
Karen Yatchum, Director, Human Services Department
Michael Swonger, Director, Veterans Services Division
Partners:
Pinellas County Veterans Services
Attachments:
Fourth Amendment
Third Amendment
Second Amendment
First Amendment
Lease Agreement