SUBJECT/RECOMMENDATION:
Title
Approve the Conditional Assignment of Lease for Room 8 in the Clearwater Beach Marina at 25 Causeway Blvd., Clearwater, FL from the current lessee, Anthony Ferrandino d/b/a Dockside Dino’s, LLC, to Frank Chivas d/b/a Marina Cantina, LLC with no changes in the existing lease and authorize the appropriate officials to execute same. (consent)
Body
SUMMARY:
Mr. Anthony Ferrandino, owner of Dockside Dino’s, has requested the consent of the City of Clearwater to assign the existing Lease Agreement dated October 2, 2015 to Frank Chivas, d/b/a Marina Cantina, LLC.
Assignment of the existing lease is permitted with the City’s consent in Section 4, page 3 of the existing lease. Upon assignment, Marina Cantina, LLC as lessee would act as the sole operator for the daily operation of lease space in accordance with the responsibilities outlined in the current lease.
The current lease has 20 months remaining on its initial term that continues through September 30, 2018 with the option to extend for 1 year. At that time the Lessee, with the Lessor’s consent, may renew the lease agreement for three years in accordance with the terms and conditions offered other lease renewals in the Municipal Marina.
The fixed monthly rent for the Dockside Dino’s lease is $896.55 per month, plus tax. The tenant also pays six percent of yearly gross sales exceeding $350,000.00. A consumer price index (CPI) is added to the monthly rental payment on October 1st of each year of the lease. Under the terms of the lease, the lessee is responsible for all improvements, maintenance, insurance, taxes and utilities for the rented space.
APPROPRIATION CODE AND AMOUNT:
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