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Action Item
DATE: Tuesday, April 3, 2018
TO: School Board Members
FROM: Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve Parking Agreement Between the School Board of Hillsborough County and the Tampa Bay Arena, L.P. for the Rampello Downtown Garage
EXECUTIVE SUMMARY
Tampa Bay Arena, L.P. (Amalie Arena) has requested permission to lease approximately 250 parking spaces from the School Board of Hillsborough County, Florida, a body corporate, in the Rampello Downtown Garage.  The spaces would be for Amalie employees' use after 4:00 p.m., Monday through Friday, and on scheduled weekend periods Saturday and Sunday.  No overnight parking will be allowed and all vehicles are parked at their own risk with no liability to the School Board.

The initial term of the Parking Agreement is five (5) years, with either party having the right to terminate with a 90-day written notice.  The first year rental rate will be $121,500 for 108 events.  Thereafter, the rental rate will increase based on the current CPI rate.    If the number of events exceeds 108 in any year, there will be a charge of $1,125 per event.  Any school district security services requested by Amalie will be charged at district standard rate and be above the base per event rental fee.

This agreement has been reviewed and approved by School Board real estate legal counsel as to form and sufficiency.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  No)
Approval of the Parking Agreement between the School Board of Hillsborough County and Tampa Bay Arena, L.P., will generate revenue in the amount of $121,500 for the district.
EVALUATION
SUBMITTED BY:  Denise A. Taraschi, Property Specialist
Amber K. Dickerson, Manager, Planning & Siting
Lorraine Duffy Suarez, General Mgr., Growth Management & Planning
    Christopher Farkas

  Chief Operating Officer
(813) 272-4004
    C 7.03
Hillsborough County Public Schools (Florida) * Mtg.#20180403_869 (Board Meeting) * Section C Item# 7.03