Title of Item:
AMENDMENT TO HUDSON'S ON THE RIVER LAND LEASE (RC):
RESOLUTION No. 90-2020;
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF STUART, FLORIDA AUTHORIZING THE MAYOR TO EXECUTE AN ADDENDUM TO THE LAND LEASE BETWEEN THE CITY OF STUART, FLORIDA AND HUDSON’S ON THE RIVER, PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSESS.
Summary Explanation/Background Information on Agenda Request:
Following the adoption of the land lease and assignment between the City and Hudson's, the City was contacted by the Florida Department of Environmental Protection agency regarding a FRDAP Grant. There were questions raised about the location of the property. The project was placed on hold because the City wanted to ensure that its actions would not violate the grant. After extensive research it has been determined that the agreement will be in compliance with the grant and can move forward. As a result of the delay created by this investigation, it is necessary to move the rental terms of the lease back 6 months. Therefore, the proposed addendum requires the rent to start on March 1, 2021 or upon receipt of a Certificate of Occupancy which ever is sooner rather than the initial date of September 1, 2020.
There is also an attachment to the lease which shows a site plan and the Flagler Park border.
Funding Source:
N/A
Recommended Action:
Approve the Resolution |