PLACEMENT: Consent
TITLE:
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CHILDREN'S MUSEUM OF THE TREASURE COAST, INC. REQUESTS A THIRD AMENDMENT TO THE LEASE AGREEMENT FOR THEIR FACILITY AT INDIAN RIVERSIDE PARK IN JENSEN BEACH
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EXECUTIVE SUMMARY:
executive summary
This is a request for the approval of a Third Amendment to Lease Agreement between Martin County and Children's Museum of the Treasure Coast, Inc. ("Children's Museum"), by adding approximately 0.89 acres of vacant land adjacent to the current leased area to accommodate the addition of a proposed Planetarium and Discovery Science Center.
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DEPARTMENT: Public Works
PREPARED BY: Name: Carla T. Segura, FRP
Title: Real Property Manager
REQUESTED BY: Children's Museum of the Treasure Coast, Inc.; Tammy Calabria, Executive Director; Richard Baron, Board President
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 add approximately 0.89 acres more or less of vacant land adjacent to the Current Premises, to accommodate the addition of a Planetarium and Discovery Science Center
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 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 further amended by Second Amendment to extend the ter...
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