Approve Amendment No. 2 to Parking Lease Agreement Between Tampa-Hillsborough Expressway Authority and the School Board of Hillsborough County for Parking Lots Adjacent to Raymond O. Shelton School Administrative Center

On May 6, 2008, the School Board of Hillsborough County approved a Lease with the Tampa-Hillsborough County Expressway Authority for parking lots adjacent to the Raymond O. Shelton School Administrative Center for a total of 221 parking spaces.  These lots are referred by ROSSAC as "City Lots 1, 2 and 3".  During reconstruction of the Expressway, the Lease was held in abeyance and alternative arrangements were made.

Upon completion of Selmon Expressway expansion, the available parking spaces were reduced to 213 and the rent must be adjusted to reflect the decreased parking capacity.  This Amendment No. 2 reflects the 213 parking spaces and the corresponding rent adjustment for the remainder of the first extension term of September 1, 2013 to May 7, 2014.  At the end of this first extension term, notification will be sent to the Expressway Authority to exercise our option for the second extension period from May 8, 2014 through May 7, 2017.  The Lease contains a total of four extensions, each for three year terms, with the final term ending in 2023.

The approval of the Lease Amendment assures the School Board of continued parking capacity for administrative and business purposes at the ROSSAC building.

The adjusted rental fee of $48,353.31 for the 213 parking spaces for the period commencing September 1, 2013 and ending May 7, 2014 will be derived from General Operating Funds.