The City of Orlando entered in the Amended and Restated Operation and Use Agreement with the Greater Orlando Aviation Authority (GOAA) on August 31, 2015. Per this agreement, GOAA controls, operates and maintains the property for the Orlando International Airport, under the ownership of the City of Orlando.
To better serve residents in the Lake Nona Community, the City desires to construct a Government Center on land controlled by The Authority. Programming for the Government Center is expected to include a Police substation, City offices and a branch of the Orange County Library System.
The Authority has agreed to lease the City approximately five acres of land adjacent to Dowden Road for the City’s construction and operation of the Government Center. The term of the lease is thirty (30) years, with the City’s option to renew the lease for three (3) additional terms of five (5) years each, for a total term of forty-five (45) years.
The initial annual rent is $87,500 per year for the first five (5) years, as determined by an appraisal and is subject to adjustment every five (5) years based on subsequent appraisals. The City intends to enter into a sublease with the Orange County Library System library for its operation of the library branch. Such sublease will require the library to pay rent and a proportionate share of the common area expenses of the center.