Broward County Commission Regular Meeting
Director's Name: Trevor M. A. Fisher
Department: Public Works Division: Real Property and Real Estate Development
Information
Requested Action
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MOTION TO APPROVE First Amendment to the Lease Agreement between Broward County (County) and AW Riverbend, LLC, and RMC Riverbend, LLC (collectively the Landlord), to extend the term of the lease for an additional five year period beginning January 31, 2026, add an additional five year renewal option, update the base rent schedule, and update certain notice requirements for office space located at 2307 West Broward Boulevard, Suite 300, Fort Lauderdale, Florida 33312; and authorize the Mayor and Clerk to execute same. (Commission District 8)
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Why Action is Necessary
Board of County Commissioners' approval is required to approve and execute lease agreements and amendments to lease agreements.
What Action Accomplishes
Provides the County with an amendment to the Lease Agreement to extend the term of the lease for an additional five-year period beginning January 31, 2026, add an additional five year renewal option, update the base rent schedule, and update certain notice requirements for office space at Riverbend Professional Center located at 2307 West Broward Boulevard, Suite 300, Fort Lauderdale, Florida 33312.
Goal Related Icon(s)
☐County Commission
☐Go Green
☐MAP Broward
Previous Action Taken
None.
Summary Explanation/Background
PUBLIC WORKS DEPARTMENT/REAL PROPERTY AND REAL ESTATE DEVELOPMENT DIVISION AND RESILIENT ENVIRONMENT DIVISION RECOMMENDS APPROVAL OF THE ABOVE MOTION.
On July 23, 2019, Broward County (“County”) and AW Riverbend, LLC, and RMC Riverbend, LLC (collectively the “Landlord”), entered into a Lease Agreement for approximately 17,858 square feet of office space at Riverbend Professional Center located at 2307 West Broward Boulevard, Suite 300, Fort Lauderdale, Florida 33312.
The initial term of the Lease Agreement ends on January 31, 2026. The proposed First Amendment will extend the term of the lease for an additional five-year period beginning January 31, 2026, add an additional five year renewal option, update the base rent schedule, and update certain notice requirements.
The First Amendment has been reviewed and approved as to legal sufficiency by the Office of the County Attorney.
Source of Additional Information
Lary S. Mahoney, Director, Real Property and Real Estate Development, Public Works Department, (954) 357-7357
Trevor M.A. Fisher, P.E., MBA, Director, Public Works Department, (954) 357-6410
Hipolito Cruz, Jr., MBA, Director, Building Code, Resilient Environment Department, (954) 765-4310
Lenny Vialpando, Director, Resilient Environment Department, (954) 357-6677
Fiscal Impact
Fiscal Impact/Cost Summary
$446,450 for the first year with an annual 3% increase.
2nd year $459,843.50
3rd year $473,638.81
4th year $487,847.98
5th year $502,483.42