TO: Mayor and Commissioners
FROM: Noel Pfeffer, City Attorney
DATE: April 5, 2016
Title
FIRST AMENDMENT TO LEASE AGREEMENT BETWEEN CITY OF DELRAY BEACH FLORIDA AND CREATIVE CITY COLLABORATIVE OF DELRAY BEACH, INC. FOR OLD SCHOOL SQUARE PARKING GARAGE PROPERTY
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Recommended Action:
Recommendation
Motion to Approve First Amendment to Lease Agreement Between City of Delray Beach, Florida and Creative City Collaborative of Delray Beach, Inc. (“CCC”) for Old School Square Parking Garage Property
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Background:
The City and CCC previously entered into a lease agreement dated February 2, 2015 and expiring on March 15, 2016 for approximately 10,289 square feet of space at the Old School Square Parking Garage for the “Arts Garage”. At the City Commission meeting of February 16, the Commission, by consensus, agreed to consider a month-to-month lease extension for the CCC, not to exceed 6 months, to allow the City Manager and Arts Garage to develop proposed terms for a further lease extension. Any such lease extension would be subject to further discussion and approval by the City Commission.
On March 14, 2016, the CCC executed the First Amendment and further provided a written letter formally stating that it will not exercise its option to purchase the lease property. The First Amendment is effective March 16, 2016 and terminates September 16, 2016 unless terminated sooner pursuant to the terms of the First Amendment.
Timing of Request:
Timing is of the essence for this matter as the current lease expired March 15, 2016.