Title:
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Approve and authorize the Chairman to execute the five (5) year Ahoy Marine Lease Agreement for an annual rent of $30,544.44. District5 - Herr (Stephen Koontz, Administrative Services Deputy Director)
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Division:
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Administrative Services-Real Estate
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Authorized By:
Shane Fischer, Real Estate Division Manager
Contact/Phone Number:
Sandra Aganovic/407-665-5280
Background:
On November 27, 1985, the Board of County Commissioners (BCC) approved a lease of the 1.2-acre, parcel number 06-20-31-502-0300-0010 (511 East 25th Street, Sanford, FL 32771), to Ahoy Marine, Inc.
The lease was previously amended on September 4, 1991, November 30, 1995, January 4, 2001, November 17, 2005, December 13, 2006, December 13, 2011, October 22, 2013, and November 10, 2015, and November 10, 2020.
The current lease agreement is set to expire on December 31, 2025. Both parties have decided that it would be in their best interest to enter into a new lease agreement rather than extend the existing lease.
The proposed Ahoy Marine Lease Agreement will be for a term of five (5) years from January 1, 2026, through December 31, 2030, unless terminated sooner as provided in Section 15 of the agreement. Tenant no longer desires to rent the vacant lot (Lot 30), which has been removed from the proposed agreement effective January 1, 2026. The tenant desires to continue renting the improved lot, Lot 1.
Effective January 1, 2026, the new rent payment will be $2,545.37 per month or $30,544.44 annually (increase of 2.6% based on June 2025 CPI index). Each year thereafter, the rent for Lot 1 will be adjusted by either 3% or CPI whichever is less, based on the June CPI Index.
The insurance section was updated in accordance with Risk Management recommendations.
Requested Action:
Staff requests the Board approve and authorize the Chairman to execute the Ahoy Marine Lease Agreement.