Title of Item:
STUART MAIN STREET ASSOCIATION, INC. LEASE AGREEMENT FOR FLAGLER PLACE (RC):
RESOLUTION No. 61-2019; A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF STUART, FLORIDA EXECUTING THE FLAGLER PLACE LEASE WITH STUART MAIN STREET ASSOCIATION, INC., STUART, FLORIDA AND PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
Summary Explanation/Background Information on Agenda Request:
In 2013, the City leased the Flagler Center to Flagler Place, Inc., for a fixed term with options not to exceed 10 years. In the fall of 2018, the City notified the tenant that the lease agreement would expire at the end of its term on December 31, 2019.
Staff has investigated several options for the property ranging from the entire operation being handled by the City to an RFP placing the property into private operation. After extensive review and investigation, the City Manager is recommending that the City enter into a lease agreement with Stuart Main Street Association, Inc. There are several benefits to the City which include the ability for the City to maintain "Stuart Days" at the property, as well as the benefits associated with a "quasigovernmental" not for profit agency running the property which will provide the most public access at the least expense.
The proposed lease is attached hereto. The City will not be affiliated with the property and it will be exclusively operated by Stuart Main Street Association, Inc. However, the lease agreement reserves 25 City Days including the Fourth of July during which the property will be essentially set aside for the City’s use at no cost to the City.
Funding Source:
N/A
Recommended Action:
Move approval of Resolution No. 61-2019 authorizing the Mayor to execute a lease with Stuart Main Street Association, Inc. for the operation of the property currently known as the Flagler Center. |