Agenda

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County Administrator's Report 14. 4.

BCC Regular Meeting

Discussion

Meeting Date:	03/07/2019
Issue: Santa Rosa Island Authority Lease Renewal - 906 Ariola Drive
From:	AMY LOVOY
Department:	County Administrator's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the Renewal of a Lease at 906 Ariola Drive in Pensacola Beach by the Santa Rosa Island Authority Board of Directors - Amy Lovoy, Interim County Administrator

That the Board approve or deny the renewal of a "perpetual" lease at 906 Ariola Drive, Pensacola Beach, Florida (Property Ref. No. 282S262150008004), as approved by the Santa Rosa Island Authority Board of Directors on February 13, 2019. Per Chapter 79-456 F.S., the Board of County Commissioners has veto power over the SRIA Board within 30 days of any substantive action taken regarding changes in land use and leases.

BACKGROUND:

For financing purposes, the lender of a prospective buyer of the leasehold prompted this request for a renewal by the current leaseholders Brian and Adrienne Paugoulatos for an additional 99 years. The lessee pays ad valorem taxes on both the improvements and the land and also notified SRIA of the intention to renew within the required timeframe prior to the expiration of the original term, per correspondence from the SRIA Board. The language in the lease is that of a "perpetual" nature per Section 14 of the lease, which reads as follows:
(14) In event lessee shall fully perform all the terms, provisions and conditions on his part to be performed for the full term of this lease, lessee shall have the right and privilege at his election to renew this lease for a further term of 99 years, by giving the Authority written notice of such election to renew not later than six (6) months prior to the expiration of the original term. Such renewal shall be on the like covenants, provisions and conditions as are in this lease contained, including an option for further renewals.

BUDGETARY IMPACT:

N/A

LEGAL CONSIDERATIONS/SIGN-OFF:

Per Chapter 79-456 F.S., the Board of County Commissioners has veto power over the SRIA Board within 30 days of any substantive action taken regarding changes in land use and leases.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
SRIA Correspondence re 906 Ariola Drive Lease Renewal
F.S. 79-456 - BCC Veto Power of SRIA
Lease - 906 Ariola Drive