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Termination of Agricultural Land Lease Agreement and Mutual Release With Pleasant Valley Dairy, Inc., for Property Located at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
Pleasant Valley Dairy, Inc., entered into a ground lease agreement with Hernando County on March 22, 2022, for agricultural use only. Due to unforeseen circumstances, Pleasant Valley Dairy, Inc., is unable to continue with the ground lease agreement and has requested termination of the lease agreement with Hernando County.
Per the lease agreement, any party shall have the right to terminate the lease agreement with no less than ninety (90) days’ notice. The termination of the lease agreement will take effect on December 11, 2023.
FINANCIAL IMPACT
Revenue for FY2024 will be reduced by $3,430.98 in Account No. 3620052 - Lease- Agriculture.
LEGAL NOTE
Reviewed and approved for form and sufficiency by the County Attorney’s Office. The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached termination of ground lease agreement between Hernando County and Pleasant Valley Dairy, Inc., and mutual release.