PLACEMENT: Departmental
TITLE:
title
REQUEST FOR APPROVAL OF AN AMENDED AND RESTATED PUBLIC PURPOSE LEASE AGREEMENT WITH TREASURE COAST ROWING CLUB IN PALM CITY
end
EXECUTIVE SUMMARY:
executive summary
This request is for the consideration and approval of an Amended and Restated Lease Agreement (“Restated Lease”) with the Treasure Coast Rowing Club, Inc., a Florida not-for-profit corporation (“Rowing Club”), located within Charlie Leighton Park in Palm City. The Restated Lease will add approximately 6,515 square feet (.15 acres) to the Rowing Club’s existing leased area and extend the lease expiration date from October 1, 2026, through October 1, 2046, resulting in a lease term of twenty (20) years with one (1) ten (10) year renewal option.
body
DEPARTMENT: Public Works
PREPARED BY: Name: Mandee Johns, F.R.P.
Title: Real Property Professional
REQUESTED BY: Kevin Abbate, Parks and Recreation Department Director
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
Documents drafted by: Martin County
Parties to the Amended and Restated Lease Agreement:
Martin County - Lessor
Treasure Coast Rowing Club, Inc. - Lessee
Purpose of the Lease: Provide continued use for Rowing Club at Jock Leighton Park
New/Renewal/Modified: New
Duration: Twenty (20) years, with one ten (10) year renewal period
Benefits to County: Community organized training programs geared toward national and international rowing competitions
Cost to Martin County: None
On August 26, 1997, the Rowing Club entered into a twenty-five (25) year Community Interest Lease Agreement (the “Original Lease”) for property located at the southeastern corner of Charlie Leighton Park. On December 15, 1998, the First Lease Amendment extended the timeline for the required site plan approvals to within 24 months of the date of the Original Lease. On June 5, 2001, the Second Lease Amendment extended the timeline for the completion of Phase I construction to on ...
Click here for full text