Subject:
Title
First Amendment to the Lease Agreement with EJB Fairways, LLC for office space at 8200 Bryan Dairy Road, Largo.
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Recommended Action:
Recommended Action
Approval of the First Amendment to the Lease Agreement (Lease) with EJB Fairways, LLC for office space at 8200 Bryan Dairy Road, Largo.
• The current Lease Agreement expires on July 31, 2019.
• The Lease provides uninterrupted service to the Convention and Visitors Bureau.
• The extended term is for five years commencing on August 1, 2019.
• Landlord, at Landlord’s cost, will complete tenant improvements to restrooms, breakrooms, and will comfort balance the HVAC system.
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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
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Deliver First Class Services to the Public and our Customers
5.3 Ensure effective and efficient delivery of county services and support
Summary:
This action extends the term of the existing Lease five years, and addresses requested tenant improvements. The current term expires on July 31, 2019. Execution of the Amendment will provide uninterrupted service to the CVB’s use of the space.
Background Information:
The Board of County Commissioner’s approved the Lease agreement with EJB Fairways, LLC in 2014. The 15,367 rentable square feet of air conditioned office space will continue to support the needs of the CVB.
Fiscal Impact:
The rent for year 1 and 2 will be $341,915.76 annually and will increase for years 3 through 5 to $357,282.72 annually. Continued funding for this agreement is included in the CVB’s FY20 Budget Request, at $341,920.00 for 12 months. Expense for the first two months is reflected in the FY19 Estimate for budget development.
Staff Member Responsible:
Andrew W. Pupke, Director, Real Estate Management
Partners:
N/A
Attachments:
First Amendment to Lease Agreement
Location Map