Summary:
The City and Nap Ford Charter School (Nap Ford) previously entered into a Lease Agreement on July 16, 2001, (Lease). The initial term of the Lease expired on July 31, 2006. The Lease provided for three (3) additional terms of five (5) year each, of which two (2) have been exercised. The term of the second (2nd) renewal term expired on July 31, 2016 and the third (3rd) term will not be exercised because the City is preparing for the University of Central Florida to construct a new school on the premises.
Nap Ford is in the process of relocating its school and the City will enter into a new Lease Agreement for a term of approximately one (1) year beginning (retroactively) on August 1, 2016 and ending June 15, 2017 to allow additional time for Nap Ford to finalize its relocation plans. |