SUBJECT
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Approve Lease Agreement between Polk County and American Power Boat Association, Inc., and adopt a resolution authorizing the lease of the associated property. ($13,800 annual revenue)
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DESCRIPTION
American Power Boat Association, Inc. (hereinafter “APBA”) is a New York not-for-profit corporation and the US governing body for power boat racing as authorized by the UIM (Union International Motonautique). To provide its services to the residents of Polk County APBA has requested office space from the County for its administrative and clerical functions to support its operations. The County has office space available in the new addition to the Tourism and Sports Marketing building located at 2701 Lake Myrtle Road, Auburndale. APBA has agreed to a Lease Agreement for two (2) offices totaling approximately 222 square feet with an initial term of one (1) year in the amount of $550 for Office #114, and $600 for Office #115, per month. The initial term is for one (1) year with automatic renewals for consecutive 1-year terms until the fifth (5th) anniversary. Approving the Lease Agreement, along with a resolution authorizing the lease of the associated property, will allow APBA to utilize office space within the County building to support its non-profit operations.
RECOMMENDATION
Request Board approve the aforementioned Lease Agreement and adopt a resolution authorizing the lease of the property associated therewith.
FISCAL IMPACT
Lease proceeds totaling an annual amount of $13,800 to be deposited into the appropriate fund as determined by Finance and Accounting.
CONTACT INFORMATION
R. Wade Allen, Director
Real Estate Services
863-534-2577