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Resolution Approving Retroactive Consent to Assignment of Ground Lease From Shirley L. Jordan d/b/a Equipment Supply Co., to Shirley L. Jordan as Trustee of the Shirley L. Jordan Revocable Inter Vivos Trust U/A/D 12/17/12 for 15270 Flight Path Drive at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
Hernando County entered into an Amended and Restated Lease agreement with Shirley L. Jordan d/b/a Equipment Supply Co. on March 25, 2003. Without obtaining the County’s written consent, as required by the Lease, Shirley Jordan quit-claimed her interest in the Ground Lease to Shirley L. Jordan, as Trustee of the Shirley L. Jordan Revocable Inter Vivos Trust U/A/D 12/17/12 (the “Jordan Trust”). Subsequent consents of assignment after this event were properly approved and the Ground Lease is currently held by George Michael Jordan. In order to provide for an accurate and valid chain of transfer, the attached proposed resolution approves the assignment of Ground Lease from Shirley L. Jordan to the Jordan Trust nunc pro tunc to December 17, 2012, the date the quit-claim deed was recorded.
FINANCIAL IMPACT
There is no financial Impact.
LEGAL NOTE
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 Chairman’s signature on the attached resolution to retroactively approve and confirm the validity of the assignment of ground lease between Shirley L. Jordan d/b/a Equipment Supply Co. and Shirley L. Jordan, as Trustee as of December 17, 2012, for the premises located at 15270 Flight Path Drive at Brooksville-Tampa Bay Regional Airport.