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INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Jason E. Brown, County Administrator <br />THROUGH: Richard B. Szpyrka, P.E., Public Works Director <br />FROM: Monique Filipiak, Land Acquisition Specialist E <br />SUBJECT: 1 -Year Renewal of Lease for North County Offices <br />DATE: September 12, 2016 <br />DESCRIPTION AND CONDITIONS <br />On July 7, 1992 the Board of County Commissioners executed a lease agreement with FNB <br />Properties, Inc. for 2,875 square feet of office space at 11602 and 11604 US1(Sebastian Square) <br />in Sebastian. FNB Properties is now known as Greene Investment Partnership, Ltd. The office <br />space comprises the North County Offices of the Property Appraiser, Clerk of the Court, Utilities <br />Department and Veterans Services. <br />This will be the 7th renewal of the original lease. The Landlord has offered to renew the lease <br />for 1 -year under the terms of the original agreement. The County pays rent of $14.30 per <br />square foot per year for this current fiscal year. Staff negotiated a new, 1 -year lease rate of <br />$15.50 (FY16-17) the new rate is as follows: <br />FUNDING <br />Term of Lease <br />Monthly Rent <br />Annual Rent <br />10/1/16 to 9/30/17 <br />$3,713.54 <br />$44,562.48 <br />Funding is budgeted in Account No. 00122019-034420 - General Fund/Facilities Mgmt. /Rent -Bldgs. <br />RECOMMENDATION <br />Staff recommends that the Board approve the lease renewal rates as proposed for the North <br />County Offices and authorize the Chairman to sign the attached lease renewal agreement. <br />ATTACHMENTS <br />Lease Renewal Agreement <br />APPROVED AGENDA ITEM <br />FC <br />BY <br />Indian River County <br />Approveoj <br />Date <br />Administration <br />9)15-111a <br />Budget <br />n <br />V14 A <br />'-1'3 _` <br />Legal <br />3� <br />Public Works <br />Engineering <br />---- <br />F:\Public Works\Luanne M\Facilities Management\Greene Investment Partnership -North County Leases\North County Offices BCC Memo <br />09.20.16.doc 63 <br />