Subject:
Lease Agreement with Rebel Systems LLC.
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Recommended Action:
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Approval and execution by the County Administrator of the Lease Agreement (Lease) with Rebel Systems LLC at the Young-Rainey STAR Center (STAR Center), located at 7887 Bryan Dairy Road, Largo.
• Rebel Systems LLC is a new tenant for the STAR Center.
• The term of the Lease will be for a two (2) year term commencing on September 1, 2023 and ending on August 31, 2025, with one (1) renewal term option for a one (1) year term.
• Annual revenue will be $71,848.91 which is not included in the Fiscal Year 2024 (FY24) estimate and includes both base rent and Plant Maintenance Fees.
• The base rent portion of the revenue is comparable and consistent with base rent rates of similar facilities in Pinellas County.
• The Plant Maintenance Fee recovers expenses for contractor fees, common area maintenance and facility operations costs; increases are reviewed annually based on CPI up to five (5.0%) percent.
• The Fiscal Impact for this agreement will be $71,848.91 in annual revenue to the STAR Center and is not included in the FY24 estimate.
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.1 Proactively attract and retain businesses with targeted jobs to the county and the region.
Deliver First Class Services to the Public and our Customers
5.2 Be responsible stewards of the public’s resources.
Summary:
Lease Agreement with Rebel Systems LLC at the STAR Center.
Background/Explanation:
Rebel Systems LLC is a start-up research and design technology company. In June 2023 they inquired into research and production space at the STAR Center. After review of the available space a request was made to lease an area totaling 3,421 square feet.
Fiscal Impact:
The Fiscal Impact for this agreement will be $71,848.91 in annual revenue to the STAR Center and is not included in the FY24 estimate.
Delegated Authority:
Authority for the County Administrator to sign this Amendment is granted under Code Section 2-62(a)(1).
Staff Member Responsible:
Greg Concannon, Division Director, Economic Development
Partners:
Economic Development Authority
Attachments:
Lease Agreement