THE AVIATION DEPARTMENT RECOMMENDS APPROVAL OF THE ABOVE MOTION.
This action approves a Lease between the County and Avis to continue its rental car maintenance facility operations at FLL.
On May 20, 2003 (Item No. 2), the Board approved the current Agreement of Lease between the County and Avis for the construction, operation, and maintenance of a new rental car maintenance facility located west of Interstate 95 off Ravenswood Road. The current Agreement of Lease expires on April 25, 2019.
On June 22, 2004 (Item No. 2), the Board approved the current Revocable License Agreement between the County and Avis ("Revocable License Agreement") for a parcel adjacent to the rental car maintenance facility to satisfy the requirements of the County’s Landscaping Code.
The proposed Lease combines the parcels under the current Agreement of Lease and the current Revocable License Agreement. The term is for ten years commencing on April 26, 2019, and terminating on the last day of the tenth lease year.
Two appraisals were conducted, as required by Chapter 39, Broward County Administrative Code. The first appraisal was done on June 4, 2018, by AMH Appraisal Consultants, Inc., and the second appraisal was done on December 17, 2018, by The Coastal Consulting Group, Inc. The annual rental during the first lease year will be $862,680, plus applicable taxes and will be adjusted annually thereafter, beginning with the first day of the second lease year by the greater of 3% or the Consumer Price Index ("CPI").
The Lease has been reviewed and approved as to form by the Office of the County Attorney and the Risk Management Division. |