Agenda Item #52
Lease Extension for South Area Adult Education Program
The South Area Adult Education program has occupied 18,085 square feet of leased space in The Florida Marketplace, located at 1362 South Babcock Street in Melbourne, since 1999. The current lease expires on June 30, 2014.
A five (5) year lease extension has been negotiated with the landlord with the following terms:
Lease Term: July 1, 2014 through and including June 30, 2019, contingent upon appropriation of funds.
Common Area Maintenance = $2.50/square foot/year, fixed
Total Lease Cost:
Funding: Adult Education categorical.
The School Board Attorney and the Director of Adult Education have reviewed and approved this addendum to the lease.
Attachment: Seventh Addendum to South Area Adult Education Lease
Approve the Seventh Addendum to the South Area Adult Education lease at The Florida marketplace to extend the lease for five (5) years, from July 1, 2014 through and including June 30, 2019, at a cost of $207,977.50 for Year 1, $212,860.45 for Year 2, $217,924.25 for Year 3, $223,168.90 for Year 4 and $228,413.55 for Year 5, contingent upon appropriation of funds.
Information - 4/8/2014
Consent after Information4/22/2014
Authority for Action
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Operating - Categorical
Dane Theodore, Assistant Superintendent / Facilities Services, 633-1000 x450
Jeff Arnott, Director, Adult Education, 633-3660 x198
Attachment: Seventh Addendum to South Area Adult Education Lease.pdf