SUBJECT
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Approve Amendment #4 to Lease No. 270, Grazing Lease between Polk County and ADK Cattle, LLC. ($17,118.51, annual revenue)
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DESCRIPTION
In March 2007 Polk County entered into Lease Agreement No. 270 with ADK Cattle, LLC ("ADK") to lease approximately 753 acres located within the Gator Creek Reserve, located to the northwest of Lakeland, for cattle grazing purposes with an annual lease payment of $17,118.51. The Lease Agreement provided for an initial lease term of five years; however, two subsequent amendments approved by both parties extended the term through March 21, 2022. The County was in the process of soliciting bids for a new grazing lease over the subject property; however, it was discovered during the process that the governmental agency who oversees the management plan associated with the property has changed its requirements regarding new third-party leases. Therefore, the proposed new lease agreement will need to be reviewed before the County can move forward with the solicitation process so a third amendment was approved by both parties which extended the lease through March 21, 2023. Additional time is needed to address the requirements regarding the management plan before moving forward with the solicitation process. In order to allow ADK to continue its cattle grazing operations, which in turn minimizes the maintenance needs associated with the County owned property, the County requested the current lease be extended and ADK has agreed to the request. ADK has executed a proposed Amendment #4 to Lease No. 270 which would extend the term of the lease through September 22, 2023 with all other terms and conditions of the original Lease remaining the same. Approving the aforementioned Amendment #4 to Lease No. 270 will allow ADK Cattle, LLC to continue its operations until the new lease solicitation process is completed.
RECOMMENDATION
Request Board approve the aforementioned Amendment #4 to Lease No. 270.
FISCAL IMPAC...
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