Broward County Commission Regular Meeting
Director's Name: Jonathan Daniels
Department: Port Everglades Division: Business Administration
Information
Requested Action
title
MOTION TO APPROVE First Amendment to the Marine Terminal Lease and Operating Agreement between Broward County and H.T. Shipping, Inc. and Hybur Ltd. as guarantor, to provide for an extension of the lease term for an additional five years, and a modified rental rate; and authorize the Mayor and Clerk to execute same.
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Why Action is Necessary
Lease Agreements require Board approval by the Broward County Board of County Commissioners.
What Action Accomplishes
Approves the First Amendment to the Marine Terminal Lease and Operating Agreement between Broward County and H.T. Shipping, Inc. and Hybur Ltd. as guarantor.
Is this Action Goal Related
Yes
Previous Action Taken
None
Summary Explanation/Background
THE PORT EVERGLADES DEPARTMENT RECOMMENDS APPROVAL.
This action supports the Broward County Board of County Commissioners' ("Board") Value of "Ensuring economic opportunities for Broward's diverse population and businesses" and the Goal to "Increase the economic strength and impact of revenue-generating County enterprises balancing economic, environmental, and community needs."
H.T. Shipping, Inc. is a marine terminal operator and tenant located in the Midport area of Port Everglades (see Exhibit 3) since 1995. On May 10, 2011 (Item No. 1-PH), the Board approved the most recent Marine Terminal Lease and Operating Agreement between Broward County and H.T. Shipping, Inc. and Hybur Ltd. as guarantor ("H.T. Shipping") for seven acres of land for a ten-year term commencing on July 1, 2011 and expiring on June 30, 2021. The Agreement provided H.T. Shipping the right to seek an extension for one five-year option period subject to negotiation of mutually agreeable business terms.
On June 11, 2020, H.T. Shipping notified Port staff in writing of their intent to exercise the fiv...
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