Facilities Action Item |
DATE: Tuesday, November 20, 2007
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Approve a Subordination, Non-Disturbance and Attornment Agreement for Lease Agreement Between Centermall, Inc., and the School Board of Hillsborough County School Readiness Child Care Program for the North Tampa Service Center (Student Services and Federal Programs Division)
EXECUTIVE SUMMARY
On June 22, 2005 the School Board approved a lease agreement between the District ("Lessee") and Centermall, Inc. ("Lessor") for space at 9309 North Florida Avenue, Tampa to house one of the Readiness Child Care Program's satellite offices. The present owner of the premises is in the process of restructuring financial terms with Orion Bank ("Lender"), a Florida banking corporation and as part of this process, Lender has required all tenants to approve and execute a subordination agreement. This agreement acknowledges Lender as the holder of the mortgage and reaffirms the continuation of the District's present lease terms and conditions.
This agreement has been reviewed and approved by the School Board Attorney as to form and sufficiency.
ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)
Provide adequate school facilities for the accomplishment of all District Goals and Critical Success Factors.
FINANCIAL IMPACT (Budgeted: No)
EVALUATION
SUBMITTED BY: Denise A. Eliason, Property Manager
Lorraine Duffy Suarez
Manager, Growth Management (813) 272-4685 |
Cathy L. Valdes
Chief Facilities Officer (813) 272-4004 |
A 6.05 | |
Hillsborough County Public Schools (Florida) * Mtg.#20071120_270 * Section A Item# 6.05 |