TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: Approve the Amended Tenant Lease Agreement with the AARP Foundation, Inc. for Suite B104 and Suite B105 at the Family Service Center.
Recommended Action
Approve the Amended Tenant Lease Agreement with the AARP Foundation, Inc. for Suite B104 and Suite B105 at the Family Service Center. The tenant (AARP Foundation) wishes to rent an additional suite at the Family Service Center.
Background Information
The AARP Foundation, Inc. has requested to restate and amend their previous lease to include Suites B104 and B105 and to align the terms for both suites. The length of the term shall be for one-year, effective April 15th, 2020 through April 14th, 2021. After the initial term, unless otherwise terminated, the agreement shall automatically renew from year to year thereafter, provided that in no event shall this lease renew for more than four (4) consecutive terms.
Rent shall be calculated at nine dollars and fifty cents ($9.50) per square foot, per year, divided into four (4) quarterly payments. Tenant agrees to pay Landlord rent in the amount of three hundred and fifteen dollars and eighty-eight cents ($315.88) per quarter for suite B104, and three hundred and eighty dollars ($380.00) per quarter for suite B105, for a total quarterly rent payment of six hundred ninety-five dollars and eighty-eight cents ($695.88).
The mission of AARP Foundation, Inc. is to empower people to choose how they live as they age. The AARP Foundation, Inc. was founded to assist America's 50 and over population thrive and live their lives to the fullest. The Senior Community Service Employment Program (SCSEP) is the nation's oldest program to help low-income, unemployed individuals aged 55+ find work.
AARP Foundation, Inc., first matches eligible older job seekers with local nonprofits and public agencies, so they can increase skills and build self-confidence, while earn...
Click here for full text