Subject:
Second Amendment to Lease Agreement with EnerSys Advanced Systems Inc. to amend the Lease with the Pinellas County Economic Development Authority at the STAR Center.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of a Second Amendment to Lease Agreement with EnerSys Advanced Systems Inc., pertaining to the STAR Center, 7887 Bryan Dairy Road, Largo.
• The Pinellas County Economic Development Authority owns and operates the Young-Rainey Science Technology Research Center (STAR Center).
• EnerSys Advanced Systems Inc. (formerly known as Rebel Systems LLC) (EnerSys) has been a tenant at the STAR Center since September 2023.
• EnerSys leases 5,537 sq ft of space in Building 100, and 1,960 sq. ft. of space in Building 700, for a total of 7,497 sq. ft.
• EnerSys desires to amend the Lease to (i) extend the lease for 6 months, with two 6-month renewal options, and (ii) reduce the size of the leased premises in Building 100 by 952 sq ft, with a corresponding reduction in rent.
• The reduction in the size of the leased premises and reduction in rent will be effective September 1, 2026.
• Revenue for this lease agreement is included in the FY27 Proposed Budget for Economic Development within the STAR Center Fund. Effective September 1, 2026, EnerSys’ annual rent payment will be reduced from $137,221.07 to $121,175.60.
Strategic Plan:
Prosperity and Opportunity
3.3 Increase workforce opportunities.
3.5 Foster business growth.
Smart Service Delivery
4.2 Achieve and maintain a high level of customer satisfaction.
Summary:
The Second Amendment (i) extends the Lease for 6 months (through February 28, 2027), with two 6-month renewal options, and (ii) reduces the size of the leased premises in Building 100 by 952 square feet (from 5,537 sq. ft. to 4,585 sq. ft.), with a corresponding reduction in rent.
Background/Explanation:
EnerSys is a start-up research and design technology company and helps industrial, infrastructure and defense customers to address critical power and operational needs with batteries, chargers and power equipment.
Fiscal Impact:
Effective September 1, 2026, EnerSys’ annual rent payment will be reduced from $137,221.07 to $121,175.60.
Funding for this lease agreement is accounted for within in the FY27 budget for Economic Development within the STAR Center Fund.
Delegated Authority:
Authority for the County Administrator to sign the Second Amendment on behalf of the Economic Development Authority is granted under Pinellas Code Section 2-62(a)(2) and 2-62(b).
Staff Member Responsible:
Greg Concannon, Division Director, Economic Development
Partners:
Pinellas County Economic Development Authority
Attachments:
Second Amendment
First Amendment
Lease Agreement