Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute The Attached Third 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 Sub-Lease was again amended on November 18, 2015 to extend the term to March 31, 2016.
The parties desire to again amend the Lease by extending the term and they have mutually agreed to an end date of June 30, 2016. Staff recommends approval of the item to accommodate the Hollywood Community Redevelopment Agency, which subleases office space from the City, as the Agency works to finalize future plans regarding its leased space.
Recommended for inclusion on the agenda by:
Dr. Wazir Ishmael, City Manager
Gus Zambrano, Assistant City Manager - Sustainable Development and Interim Director, Department of Development Services