|
Title: RE1 Option to Extend Lease Agreement between Palm Beach County and the School Recommendation:
I recommend the School Board exercise the option to extend the Lease Agreement between Palm Beach County and the School Board of Palm Beach County for the temporary use of 4.5+ acres of the Stockade Expansion Parcel by Maintenance and Plant Operations, and authorizing the Chairman and Superintendent to sign all other necessary documents.
Description:
- The initial term of the Three (3) Year Lease Agreement expires on February 9, 2006, (See Exhibit “A”).
- The School District has one option to renew this Lease for one (1) additional year.
- The School District is in the process of locating a permanent location for the Grounds Section of the Maintenance & Plant Operations Department and will vacate the leased Fairgrounds location by December 16, 2006 per the attached renewal confirmation. (See Exhibit “B”)
- The Annual Rent Payable to Palm Beach County Board of county Commissioners will be $43,411.80.
- The County will require use of this property for the expansion of the Stockade.
Financial Impact:
The financial impact to the School District will be $43,411.80. The source of funds is from the Modular/Portable Replacement Budget.
For Additional Information, contact:
Josep M. Moore (moorej@Mail.palmbeach.k12.fl.us)
Joseph M. Sanches
Attachments (list):
RE1 Exhibit A - Lease Agreement.pdf
RE1 Lease Agreement Exhibit B.pdf
Q&ARE1.doc
|
