06-14-2011 Regular School Board Meeting
Agenda Item #21


Title
Florida Marketplace Lease Revisions

Discussion

Lease revision negotiations for the facility lease have been completed and reviewed by School District Attorney, Harold Bistline.

The Florida Marketplace lease is for 18,085 sq. ft. of space for the South Area Adult Education program.  The Fourth Amendment increases the current rate of $5/sq. ft./yr. to $8.50/sq. ft./yr. effective 7/1/11 and ending 6/30/12. Reference attachment for details.

This item was pulled from the May 24, 2011 consent agenda because the new square footage rate was calculated without the additional cost of $2.50 for CAM (Common Area Maintenance). CAM should have been added to the base rate of $6.00 per square foot.



Recommendation
Authorize revisions to the existing lease for the Florida Marketplace that will increase the lease costs for the Florida Marketplace by $3.50/sq. ft./yr. beginning 7/1/11 and ending 6/30/12.

Meeting Date(s)
Information - 5/10/2011
Consent after Information6/14/2011

Authority for Action
SREF 2.2

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Other Sources

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program
11/12$153.722Yes10020720012007900360000

Contact

John Wigley, Director, Adult/Community Education - 633-1000 x375

Cyndi Van Meter, Associate Superintendent - 633-1000 x300




Attachment:  Florida Marketplace Lease Revisions.pdf