Title
AUTHORIZATION FOR THE CITY MANAGER TO SIGN A LEASE AGREEMENT BETWEEN THE CITY OF PINELLAS PARK AND CLASSICAL CHRISTIAN SCHOOL FOR THE ARTS, INC. - Located at 4981 78th Avenue North
Body
NOTE: In September of 2006 the City entered into a Lease Agreement with Classical Christian School for the Arts, Inc. for City-owned property located at 4981 78th Avenue North. The lease was for an initial term of five (5) years with the option to extend the Lease Agreement under the same terms and conditions for an additional five (5) years.
The Lessee has requested to renew the lease under the same terms and conditions as the initial lease for another five (5) years, with a five (5) year renewal option subject to City Council approval. Monthly lease payments will be Ten Thousand One Hundred Seventy Five Dollars and 06/100 ($10,175.06), a 3% increase over last year, and will increase by 3% annually. This lease also provides for reimbursement to the City for equipment purchases totaling Twelve Thousand Eight Hundred Ninety Nine Dollars and 40/100 ($12,899.40), payable in Eight Hundred Fifty Dollar ($850.00) per month installments.
Recommendation
ACTION: (Approve - Deny) Authorization for the City Manager to sign a Lease Agreement between the City of Pinellas Park and Classical Christian School for the Arts, Inc. for property located at 4981 78th Avenue North.