Placement: First Reading of Ordinances / Public Hearing
Action Requested: Motion / Vote
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Ordinance 26-93, Public Hearing, Authorizing the Second Amendment to a Lease Agreement between the City of Port St. Lucie and PIII Investments, LLC, for a Portion of Real Property Located at 2454 SE Westmoreland Boulevard (The Port District Riverfront Park) for a Riverfront Restaurant.
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Submitted By: Jennifer Davis, Director of Community and Economic Development
Strategic Plan Link: The City's Goal to enjoy culture, nature and fun activities.
Summary Brief (Agreements/Contracts only)
Prepared by: Jennifer Davis, Director of Community and Economic Development, and Margaret Carland, Senior Deputy City Attorney
Parties: City of Port St. Lucie and PIII Investments, LLC
Purpose: To execute the Second Amendment to the Port District Riverfront Restaurant Lease Agreement (“Second Amendment”) in accordance with the negotiated revised terms and conditions contained therein between the City of Port St. Lucie and PIII Investments, LLC, for the development, construction and operation of a riverfront food garden in The Port District’s riverfront park site.
New/Renewal/Modified: Modified
Duration: Initial term of thirty (30) years, with four 5-year renewal options. (no change)
Benefits to Port St. Lucie: The creation of a destination along the North Fork of the St. Lucie River has long been a strategic priority of the City of Port St. Lucie. Through the development of a riverfront park and related park elements, the public will have a unique opportunity to connect with the river. The addition of a riverfront restaurant to the park site will enhance the draw to the site and surrounding amenities including the City’s Botanical Gardens, newly developed Historic Village, Pioneer Park Playground, and extensive interconnected trail network.
Cost to Port St. Lucie (Annual and Potential): There are no annual cost associated with the Second Amendment. A synopsis of the anticipa...
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