HCPS FL Logo Facilities
Action Item
DATE: Tuesday, July 17, 2012
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS

Approve Lease Agreement Between the School Board of Hillsborough County and The Branch Ranch, Inc.  for a Billboard Structure at Strawberry Crest High School

EXECUTIVE SUMMARY

At the time of the land acquisition for the Strawberry Crest High School site, discussions were conducted to continue the Lease Agreement with Branch Ranch, Inc. for a small portion of land for an existing billboard structure at the northern boundary of the school.  The current Lease will expire on July 31, 2012, and Branch Ranch, Inc.  has expressed their desire to continue to utilize School District property for the billboard.  The attached Lease will commence on August 1, 2012, for an initial term of one (1) year, with two one (1) year renewal options and produce revenue of $15,000 annually.  Either party has the right to terminate with a 90-day written notice and the School Board has authority to approve the advertising content.  With the approval of this Lease, the School Board delegates authority to the Superintendent or her designee, to execute any renewal term(s) contained therein.

The revenue from the Lease will be used to reimburse the School District for off-site improvements made for Strawberry Crest High School, David E. Bailey Elementary School and the future middle school.

STRATEGIC OBJECTIVES
• Align financial resources to support the district’s strategic goals • Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  No)

The receipt of the $15,000 annual lease fee from The Branch Ranch, Inc. will be used by the School District for reimbursement of off-site improvements for Strawberry Crest High School, David E. Bailey Elementary School and the future middle school.

EVALUATION
SUBMITTED BY:  Denise A. Taraschi, Property Specialist
Lorraine Duffy Suarez   Cathy L. Valdes
General Manager, Growth Management & Planning
(813) 272-4685
  Chief Facilities Officer
(813) 272-4004
    A 6.04
Hillsborough County Public Schools (Florida) * Mtg.#20120717_509 (Board Meeting) * Section A Item# 6.04