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Florida 2B MPL Ground Lease Renewal <br />November 12, 2014 <br />2 1 P a g e <br />FUNDING: <br />There is no funding associated with this item. <br />OPTIONS: <br />1. Approve the Lease Extension and First Amendment to the ground space', lease <br />with the annual 4% increase in rental fees. <br />2. Reject the Lease Extension and First Amendment and direct staff to renegotiate <br />its terms. <br />3. Reject the Lease Extension and First Amendment and allow the lease to (expire <br />in January, 2016. <br />RECOMMENDATION: <br />Staff recommends the Board select Option 1 and approve the Lease Extension and <br />First Amendment to the ground space lease with the 4% annual rental increa e and <br />authorize the Chairman to sign the attached Lease Extension and First Amendment and <br />Memorandum of Lease Extension and First Amendment on behalf of the Board, and <br />any other documents necessary to effectuate said amendment. <br />Attachments <br />Copy to Manny Cabo <br />2 <br />200 <br />