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13. G. VERO BEACH SPORTS VILLAGE - LEASE UPDATE <br />Attorney Polackwich provided background on the Facility Lease Agreement for the Vero <br />Beach Sports Village (F/K/A Dodgertown), between the County and Verotown, LLC, and <br />revealed that according to the lease terms, the tenant was required to deliver a written notice of <br />renewal no later than October 31, 2012, but never did; and on February 5, 2013, staff received a <br />written notice stating that they would not exercise their option to renew the lease at the end of the <br />5 -year term. He said the current lease expires on April 30, 2014, but he wanted to bring this <br />forward in a public meeting for discussion due to three renewal issues that recently emerged: <br />capital expenses, casualty insurance premiums, and liquidation damages (should they leave <br />early). <br />Admimstrator Baird reviewed recent discussions and negotiations, summarized their <br />specific requests, and asked for the Board's direction in moving forward <br />Craig Callan, Vice President, Vero Beach Sports Village, provided a brief history, and <br />explained why Peter O'Malley, former Los Angeles Dodgers owner, and the Verotown, LLC <br />partners wanted to enter into a new agreement, not re -negotiate the existing 5 -year lease <br />agreement. He said they are not exercising the option in the existing lease to renew disclosed <br />that they have been working with staff for over six months to enter into a new long-term lease <br />agreement after the existing lease expires; and reported that Mr. O'Malley is willing to re -invest <br />the profits back into the facility. <br />A lengthy discussion ensued regarding the existing lease, cost of maintaining the facility, <br />room renovations, the capital reserve account, the liquidated damages clause, operation <br />expenses, the Request for Proposal (RFP) process, and tounst tax dollars. <br />March 5, 2013 17 <br />Bt( 143 PG 573 <br />