Big Storm Brewing Co. is an independent craft brewery founded in 2012.  It has three brewing and taproom facilities located in Florida (two in Tampa and one in Cape Coral) and wishes to expend into the Orlando area. 

The initial Lease term will be ten (10) years and may be extended for one (1) additional five (5) year term.  Big Storm will pay monthly base rent of $1,500 or ten percent (10 %) of its monthly gross sales, whichever is greater.  Initially for the first four (4) years of the Lease term, base rent will be $1,500 per month and then increase by ten percent (10%) during year five (5).  Beginning in year six (6) and continuing for the remainder of the Lease term, and renewal term if applicable, base rent will increase by two percent (2 %) per year.

Big Storm will improve the space at its expense but the City will reimburse the tenant for certain capital improvements up to two hundred fifty thousand ($250,000). 

The City may terminate the agreement for its convenience upon 90 days’ notice.  If the City terminates within the initial 10-year Lease term, Big Storm will be reimbursed a depreciated amount of the cost of tenant improvements it has made to the space in an amount not to exceed three hundred thousand dollars ($300,000).  The City will not be required to reimburse Big Storm for the cost of any capital improvements it has previously reimbursed.