PLACEMENT: Consent
TITLE:
title
A REQUEST FOR A FOURTH AMENDMENT TO LEASE AGREEMENT WITH THE CHILDREN’S MUSEUM OF THE TREASURE COAST, INC. FOR THEIR FACILITY AND LEASED AREA AT INDIAN RIVERSIDE PARK IN JENSEN BEACH
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EXECUTIVE SUMMARY:
executive summary
This is a request for the approval of a Fourth Amendment to Lease Agreement between Martin County and Children’s Museum of the Treasure Coast, Inc. (Children’s Museum), to clarify requirements under the Lease relating to the Children’s Museum’s responsibilities for payment to the County of Common Area Maintenance (CAM) and to amend the boundary of the Additional Premises added under the Third Amendment to Lease Agreement.
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DEPARTMENT: Public Works
PREPARED BY: Name: Carla T. Segura, FRP
Title: Real Property Manager
REQUESTED BY: Todd Foust, Assistant Director, Parks and Recreation
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
1. Amendment drafted by:
Martin County
2. Parties to the Amendment:
Martin County - Lessor
Children’s Museum of the Treasure Coast, Inc. - Lessee
3. Purpose of the Amendment:
To clarify requirements under the Lease relating to the Children’s Museum’s responsibilities for payment to the County of Common Area Maintenance (CAM) and to amend the boundary of the Additional Premises added under the Third Amendment to Lease Agreement
4. New/Renewal/Modification:
Modification
5. Duration:
Lease termination date of August 8, 2060, with the option to extend the Term for two (2) additional ten (10) year terms
6. Benefits to Martin County:
Provide a community children’s hands-on interactive museum with programs in art, math, science and technology
7. Cost to Martin County:
Administrative costs
In 2005, the Children’s Museum entered into a 25-year Lease with the County to lease the former Chapel/Auditorium at Indian Riverside Park (IRSP). In 2012, the Lease Agreement was amended by First Amendment to add additional land to the lease area for a total of approximately 0.81 acres. In 2016, the Lease Agreement was amended by Second Amendment to extend the term of the Lease and to further clarify the obligations of the parties.
On February 20, 2024, the BOCC approved a plan to move forward with the process to construct a Planetarium and Discovery Science Center. On November 12, 2024, the Lease Agreement was amended by the Third Amendment to add an area of vacant land to the Leased Premises for the future construction of the Planetarium and Discovery Science Center and to amend sections of the Lease relating to lease term, improvements, and insurance.
The additional lease area is located adjacent to a new decorative fountain constructed at the direction of the Parks & Recreation Department. Due to a maintenance vault installed for the fountain, the boundary of the additional lease area for the future Planetarium and Discovery Science Center was adjusted slightly to remove the maintenance vault from the lease area.
In addition, the Children’s Museum requested clarification of their requirements for CAM payments under the Lease and the County agreed this section should be amended to provide clearer terms for the annual CAM, billed monthly to the Children’s Museum. This section has been amended with agreement by both parties.
The expiration date of the Lease is currently August 8, 2060, with an extension period that allows for two (2) additional ten (10) year terms at the expiration of the Lease.
ISSUES:
None
LEGAL SUFFICIENCY REVIEW:
This item has been reviewed for legal sufficiency to determine if it is consistent with applicable law, and legal staff have identified and addressed legal risks and developed strategies for legal defensibility.
RECOMMENDED ACTION:
RECOMMENDATION
Move that the Board approve the Fourth Amendment to Lease Agreement between Martin County and Children’s Museum of the Treasure Coast, Inc. and authorize the Chair to execute any documents associated with this transaction.
ALTERNATIVE RECOMMENDATIONS
Pull this item from the Consent Agenda and provide staff with an alternative recommendation.
FISCAL IMPACT:
RECOMMENDATION
None
ALTERNATIVE RECOMMENDATIONS
None
DOCUMENT(S) REQUIRING ACTION:
☐Budget Transfer / Amendment ☐ Chair Letter ☐Contract / Agreement
☐Grant / Application ☐Notice ☐Ordinance ☐Resolution
☒Other: Amendment to Lease Agreement
This document may be reproduced upon request in an alternative format by contacting the County ADA Coordinator (772) 320-3131, the County Administration Office (772) 288-5400, Florida Relay 711, or by completing our accessibility feedback form at www.martin.fl.us/accessibility-feedback <http://www.martin.fl.us/accessibility-feedback>.