Subject:
Title
Lease with The Board of Trustees of St. Petersburg College
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Lease of Real Property Between Pinellas County and The Board of Trustees of St. Petersburg College (Lease) for 3,846 square feet of office and clinical space (Leased Premises) at 12376 Ulmerton Road, Largo, FL 33774, (Premises) with The Board of Trustees of St. Petersburg College (Tenant).
• On April 6, 2010, the County conveyed the Premises to Tenant for development of a Public Veterinary College.
• On September 5, 2024, the Board of County Commissioners will formally accept a deed from the Tenant for the Premises pursuant to reversionary rights in the 2010 deed.
• The County has allocated funds to construct a surgical center in the Premises to improve efficiency of workflow, medical care, and surgical alteration to animals in the care of the County’s Animal Services Department (PCAS).
• Tenant desires to lease 3,846 square feet of office and clinical space not being utilized by the County.
• Monthly rent for FY25 is $4,167.00 per month equaling $49,998.00 in annual revenue, as specified in Exhibit C. Monthly rent for FY25 is budgeted at $97,500. Approval of this lease will cause the General Fund to have $47,502 less revenue in FY25 than budgeted.
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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
5.4 Strive to serve the needs of all Pinellas County residents and customers
Summary:
Approval and execution of the Lease will make use of under-utilized space in a County owned facility and provide annual revenue of $49,998.00 to the County in Fiscal Year 2025 (FY25)
Background/Explanation:
On April 6, 2010, the County conveyed the undeveloped real property at 12376 Ulmerton Road, parcel ID 09-30-15-00000-230-0200, by deed recorded in OR Book 16892, Page 2147. The 2010 deed stipulated that the property be developed into a Public Veterinary College, as well as provided for reversionary rights beneficial to the County in the event the College no longer uses the Premises for its intended use.
The College no longer requires the Premises for its intended use and the County agrees to accept possession of the Premises. On September 5, 2024, the BCC will formally accept the deed conveying the Premises to the County, at which time a fully executed copy of the Lease will be delivered to the County and the College.
The County has allocated funds to construct a surgical center to improve efficiency of workflow, medical care, and surgical alteration to animals in the care of PCAS. The County will not require use of the entire Premises and the College desires to rent 3,486 square feet of space including six (6) dog kennels, shared laundry facilities, play yard, and common areas.
The Lease will provide $4,167.00 dollars per month equaling $49,998.00 of annual revenue for FY25
Fiscal Impact:
Fiscal Impact of $49,998 of revenue for FY25
This is over budgeted for in the FY25 Budget at $97,500 due to Department miscalculation of estimated revenue. Approval of the current lease will cause the General Fund to have $47,502 in less revenue in FY25 than anticipated.
Delegated Authority:
Authority for the County Administrator to sign this Lease is granted under Code Section 2-62 (a)(1).
Staff Member Responsible:
Diana Sweeney, Real Estate
Partners:
Board of Trustees of St. Petersburg College
Attachments:
Lease
Exhibit A
Exhibit B
Exhibit C
Exhibit D
Location Map
2010 Deed