Title:
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Approve and authorize the Chairman to execute the Seventh Addendum to Seminole State College of Florida Heathrow Center Lease with maturity date of March 31, 2032 and a reduction of the annual rent from $60,183.84 to $41,755.56. District5 - Herr (Stephen Koontz, Assistant County Manager) Requesting Department - Economic Development
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Division:
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Administrative Services-Real Estate
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Authorized By:
Stephen Koontz, Assistant County Manager
Contact/Phone Number:
Shane Fischer/407-665-7414
Background:
On August 8, 2006, the Board of County Commissioners (BCC) approved a lease agreement with Seminole Community College (SCC) to relocate Economic Development to 1,859 square feet of space in the newly constructed Heathrow Center. On September 22, 2009, the Board approved the First Addendum to the Lease, reducing the space to 1,485 square feet. On June 26, 2012, the Board approved the Second Addendum to the Lease which increased the total space to 1,668 square feet. This addendum changed all references to “Seminole Community College” to read “Seminole State College of Florida”. On March 1, 2019, Tourism office, which was located at 1515 International Parkway in Lake Mary, FL, was moved into the Heathrow Center in order to reduce lease expenses. On September 22, 2020 an office containing 134 square feet was added to the existing office space which resulted in approximately 1,860 gross square feet. On October 26, 2021, the Board approved the fourth addendum which added an office containing 171 square feet for a total of approximately 1,994 gross square feet. On June 13, 2023 the Board approved the Fifth addendum which added to the lease room 146 containing about 151 square feet of space for a total of 2,165 gross square feet. On February 27, 2024, BCC approved the Sixth addendum to the lease which added about 922 square feet of space to the lease as an additional leased premise at $1.00/year. The space has been occupied by various entities in order to stimulate economic growth in Seminole County by either attracting new industries and business or by encouraging the expansion of existing industries and business within Seminole County.
The proposed Seventh Addendum releases several office spaces back to the College and the additional leased space as it is no longer needed by the County. This results in space reduction from 2,165 SF to 1,502 SF and elimination of 922 SF of additional space. This change results in a new monthly rent of $3,479.63 or $41,755.56 annually and elimination of $1.00 per year rent for the additional leased space.
The College continues to pay for all repairs and maintenance within the leased premises. The lease can be terminated early with six (6) months’ written notice to the College.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute the Seventh Addendum to Seminole State College of Florida Heathrow Center Lease with maturity date of March 31, 2032 and a reduction of the annual rent from $60,183.84 to $41,755.56