Subject:
Title
Staff Direction, Re: Tourism Development Office lease and Visitor Information Center (VIC) lease
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Fiscal Impact:
5-year lease with 5-year renewal for office space would be approximately $1,126,656.00 ($102,894 annually with 2% or CPI escalator) out of Fund 1440 for office space. 5-year lease with 5-year renewal for Visitor Information Center out of Fund 1445 would be approximately $160,321.00 ($13,985 annually with 3% escalator).
Dept/Office:
Tourism Development Office
Requested Action:
Recommendation
It is requested that the Board of County Commissioners review and provide direction to staff for a potential new office lease, including a move, to 801 N. Atlantic Avenue, Suite 400, Cocoa Beach, FL 32931. Additionally, provide direction and approve potential move of Visitor Information Center to 267 W. Cocoa Beach Causeway, Cocoa Beach, FL 32931.
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Summary Explanation and Background:
The Tourism Development Office (TDO) has searched for various potential office space options including renewing the current space at 430 Brevard Avenue, Suite 150, Cocoa, FL 32922. The existing office space lease is up in June, 2022. However, the building is up for sale and although the owners are willing to give an extension to the existing lease, there are out clauses in case the building is sold and the TDO would have to vacate with relatively short notice. By proactively finding new office space now, this would provide for the smooth transition and future of the TDO.
The recommended new office space sits in the tourism corridor between SR 520 and Minuteman Causeway on A1A. It includes 5,560 square feet of space in 2 sections on the 4th floor of the SunTrust Building. This new lease would begin on or about October 1, 2021 and would be for 5 years with a 5-year renewal option. Please note, while this lease cost is higher than then current lease, the lease is for five years without the threat of short notice of vacating and the lease cost is lowe...
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