Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute The Attached Second Amendment To The Full-Service Sublease By And Between The Greater Hollywood Chamber Of Commerce, Inc. And The City Of Hollywood, Florida, For The Property Located At 330 North Federal Highway, Hollywood, Florida.
Body
Staff Recommends: Approval of attached Resolution.
Explanation:
On April 10, 1995, The Greater Hollywood Chamber of Commerce, Inc. (“Chamber”) and the City entered into an Amended and Restated Ground Lease whereby the City leased to the Chamber the property located at 330 North Federal Highway (the “property”) for the construction of a new Chamber building, with the Lease ending on March 31, 2030.
Also on April 10, 1995, the Chamber, as Landlord, and the City, as Tenant, entered into a Full Service Sub-Lease for approximately 1,762 square feet of office and conference room space in the building, with the Lease ending April 30, 2015. On April 24, 1996, the Sub-Lease was amended to further clarify use of the property.
The parties desire to again amend the Lease by extending the term and they have mutually agreed to an end date of March 31, 2016. The reason the Lease between the Chamber and the City is being amended is to allow sufficient time for the Hollywood Community Redevelopment Agency, which sub-subleases space in the building from the City, to finalize plans regarding its leased space.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
Gus Zambrano, Assistant City Manager for Sustainable Development and
Interim Director, Department of Development Services