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Renewal of Lease Agreement With Vincent Academy Adventure Coast, Inc., for Office Space at Westside Government Center
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BRIEF OVERVIEW
Vincent Academy Adventure Coast, Inc., plans to construct a facility in the foreseeable future that aims at aiding individuals with mental illness in transitioning toward independent living and re-entering the workforce. However, in the interim period, the organization is seeking space to accommodate individuals eligible for their community programs.
Currently, Vincent Academy Adventure Coast, Inc., is leasing 2,870 square feet at the Westside (Forest Oaks) Government Center, 7475 Forest Oaks Boulevard in Hernando County (Key No. 1137852). As their current lease is set to expire, they wish to continue their operations within Hernando County through this three (3) year lease agreement.
Staff recommends the Board approve this three (3) year lease with Vincent Academy Adventure Coast, Inc.
FINANCIAL IMPACT
Dependent on the Board’s approval of the Lease Agreement, the annual revenue would be increased in account
Revenue:
Fund: B001-General Fund, Department: 185-Facilities, Account: 362001 - Rent Buildings
By 3% to be $2,609.56 a month ($31,314.72 per year) for the first year. In the second year, the monthly amount will rise 3% to $2,687.85 a month ($32,254.20 per year), followed by another 3% increase for the third year to $2,768.49 a month ($33,221.88 per year).
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve and authorize the Chairperson’s signature on the attached Lease Agreement with Vincent Academy Adventure Coast, Inc., for office space at the Westside Government Center located within Property Key No. 1137852.