Placement: First Reading of Ordinances / Public Hearing
Action Requested: Motion / Vote
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Ordinance 19-80, Motion to Adopt Ordinance Authorizing the Lease and Grant of Purchase Option Agreement with Cleveland Clinic Florida for the Florida Center for Bio-Sciences.
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Submitted By: Russ Blackburn
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): City Council directed the City Manager and City Attorney to prepare a Lease with Option to Purchase Agreement with Cleveland Clinic to occupy the Florida Center for Bio-Sciences. A Lease with Grant of Purchase Option Agreement will be presented to the City Council.
Presentation Information: Russ Blackburn, City Manager, Margaret Carland, Deputy City Attorney, and Pete Tesch, President of the St. Lucie County Economic Development Council, will make a presentation on the proposed Lease with Grant of Purchase Option Agreement.
Staff Recommendation: Move that the Council direct the City Manager to execute a Lease with Grant of Purchase Option Agreement with Cleveland Clinic Florida to lease and potentially sell the Florida Center for Bio-Sciences. The Lease is for a period of 15 years and provides Cleveland Clinic Florida the option to purchase the Florida Center for Bio-Sciences.
Alternate Recommendations:
1. Move that the Council amend the recommendation and provide specific counter proposals to the Lease with Grant of Purchase Option Agreement.
2. Move that the Council approve the Lease with Grant of Purchase Option Agreement included with this agenda item and authorize the City Manager to execute the Lease with Grant of Purchase Option Agreement.
Background: Port St. Lucie entered into an agreement with Oregon State Health University (OSHU) to locate a 108,000 sq. ft. bio-science research facility in Port St. Lucie. The name of the Port St. Lucie facility was the Vaccine and Gene Therapy Institute (VGTI). Funding partn...
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