TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Approve the Amended Tenant Lease Agreement between the City of North Port and AARP Foundation, Inc. for Suite B105 at the Family Service Center.
Recommended Action
Approve the Amended Tenant Lease Agreement between the City of North Port and AARP Foundation, Inc. for Suite B105 at the Family Service Center.
Background Information
The AARP Foundation, Inc. leased Suite B104 and B105 at the Family Service Center. On March 8, 2022, AARP submitted their 60-day notice stating they wished to relinquish Suite B104 and continue renting Suite B105. The 60-day notice ended on May 7, 2022. After legal review of the lease agreement, City staff submitted the lease to AARP and their legal department had some revisions that necessitated further legal review from the City. Furthermore, several revisions were submitted that resulted in a consult between both legal depts. On September 17, 2022, the attached agreement was finalized. Commencing on the date of the last party to ratify and approve this agreement ("Effective Date"), the term of this Agreement will be one (1) year ("Initial Term"). After the Initial Term, unless otherwise terminated, this Agreement will automatically renew from year-to-year thereafter, provided that in no event will 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 to Landlord rent in the amount of three hundred eighty dollars and zero cents ($380.00) per quarter.
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 pro...
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