PLACEMENT: Departmental
TITLE:
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REQUEST APPROVAL OF A FIRST AMENDMENT TO LEASE AGREEMENT WITH THE DISTRICT BOARD OF TRUSTEES OF INDIAN RIVER STATE COLLEGE, ALONG WITH AN ACCESS AND MAINTENANCE EASEMENT ALONG SW CITRUS BOULEVARD IN WESTERN MARTIN COUNTY
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EXECUTIVE SUMMARY:
executive summary
This is a request for the approval of a First Amendment to Lease Agreement between Martin County and The District Board of Trustees of Indian River State College (IRSC) to amend the lease boundary to include an additional 30.72 acres for Sports Facilities, along with approval of a Non-Exclusive Access and Maintenance Easement along the main entrance located on SW Citrus Blvd. in western Martin County. The lease term remains unchanged with this amendment.
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DEPARTMENT: Public Works
PREPARED BY: Name: Carla T. Segura, F.R.P.
Title: Real Property Manager
REQUESTED BY: George M. Stokus, Assistant County Administrator
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
1. Amendment/Easement drafted by:
Martin County
2. Parties to the Amendment and Easement:
Martin County - Lessor/County
The District Board of Trustees of Indian River State College - Lessee/Trustees
3. Purpose of the Amendment:
Additional 30.72 acres for new Sports Facilities and to allow access and maintenance via main entrance.
4. New/Renewal/Modification:
Modification/New
5. Duration:
Lease - 55 years with an expiration date of February 22, 2077, with four (4) additional ten (10) year options to extend the term, along with a final renewal of four (4) years.
Easement - Perpetual
6. Benefits to Martin County:
Continued operation of Indiantown High School with the addition of a new sports facility.
7. Cost to Martin County:
Administrative costs
On February 22, 2022, the County and The District Board of Trustees of Indian River State College (IRSC) executed a lease for approximately twenty-five (25) acres along SW Citrus Blvd. fo...
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