SEMINOLE COUNTY PORT AUTHORITY MINUTES OF THE REGULAR BOARD MEETING OCTOBER 17, 2018

Transcription

1 The regular Board Meeting of the Seminole County Port Authority was held in the Board Room of the Administration Building at the Port of Sanford on October 17, Chairman Criswell called the meeting to order at 4:00 p.m. with the following Directors constituting a quorum: Cliff Miller, Chairman; Matthew Criswell, Vice- Chairman; Dana McBroom, Treasurer; Michael Caraway, Secretary; Kyle Kilger, Member; and Susan Sherman, Member. Members Absent: Taylor Pancake, Member; Michael Bowdoin, Member; and John Horan, BBC Member. Staff present: Andrew Van Gaale, Administrator; and Jennifer Sykes, Business Office Manager. Others present: Steve Coover, SCOPA Attorney; and Tim Marcopulos, Seminole County Facilities Manager. An invocation was given by Michael Caraway followed by the pledge to the Flag. Chairman Miller asked the Board for corrections or additions to the minutes of the October 17, 2018, meeting. MOTION WAS MADE BY MATTHEW CRISWELL, SECONDED BY SUSAN SHERMAN TO APPROVE THE MINUTES OF THE SEPTEMBER 19, 2018, BOARD MEETING AS PRESENTED. The Administrator then presented the Balance Sheet and Budget Statement for the month of September 2018, to the Board. Revenues for the month were over budget by $14,956 and over budget by $182,262 for the year-to-date. The expenditures for the month of September were over budget in the amount of $119,433, but under budget by $603,212 for the year-to-date. The Administrator explained that the expenditures for the year were under budget due to the stormwater project delays caused by last year s Hurricane Irma. The year-to-date profit is $949,412, or 44.3%, and that does not include the $700,000 contribution made to the Seminole County General Fund. Occupancy for the month of September is currently at 99.6%. The Administrator explained that the annual audit was conducted during the first week of October and that Rob Kimelman of Greene, Dycus & Co., would be at the November meeting to present the audited financial statements. There were no questions on the September financial statements. Page 1 of 5

2 The Administrator presented the Outstanding Bills List to the Board for discussion and approval. He explained that item #15, the $6, payment to Barnes Heating & Air Condition, represents payment for service calls and replacements at three units. Item # 21, the $94, payment to Stage Door II, represents the second pay ap. on the second phase of the stormwater improvement project. Item # 28, the $ payment to Florida Department of Economic Development, represents the annual special district fee. The Administrator then noted the normal first of the month bills for November. There were no other questions regarding the outstanding bills. MOTION WAS MADE BY KYLE KILGER, SECONDED BY MATTHEW CRISWELL, TO APPROVE THE OUTSTANDING BILLS TO BE PAID. THE LIST OF BILLS TO BE PAID IS ATTACHED HERE AND MADE A PART OF THESE MINUTES. The Administrator presented the Aged Receivables List to the Board for review explaining that there was no change in Acme Recycling s balances, ARI Electronics is current and usually pays at the end of the month. The Administrator explained that the small balance owed by Brand O Guitars would be discussed with the leases later in the meeting. Sentry Sign Installers was issued a 3-day Notice on October 16 th, and all other tenants are current only owing for October. Kyle Kilger inquired about the Port s right to any proceeds received during any auction or sale held by ARI Electronics, Inc., in relation to the outstanding ACME and ARI balances. The Administrator explained that he did not believe there was any as the company buys and sells daily through the normal course of business. Mr. Coover explained the legal options that the Board could pursue at this time or in the future. The Administrator reminded the Board that La Mesa RV s has repeatedly expressed interest in the site. Also, the five-year capital improvement plan includes the redevelopment of that site, which would be necessary prior to entering another lease. ATTORNEY S REPORT Mr. Coover explained that he had nothing additional to report at this time. ADMINISTRATOR S REPORT a) Project Updates The Administrator reported that the stormwater phase two project was going well despite finding old asbestos water lines, an unmarked force main and an artesian well. The engineers are working with the contractor on some small redesigns to accommodate such obstacles, but over-all the project is still moving along well, and soil conditions have remained good. Page 2 of 5

3 The Administrator explained that he had received the preliminary engineering on the 1690 Fitzpatrick Point redesign and was working on getting bids on the necessary repairs to six columns. The Administrator concluded his report stating that the annual audit went well, occupancy has remained strong, the current priority is completing the stormwater project and replacing the outfall on the rear pond. There were no additional questions. OLD BUSINESS There was no old business presented. NEW BUSINESS a) Leases - The following Leases were presented for approval: 1. Lease Termination (in conjunction with #2) CFLSS; 1501 & 1509 Dolgner Place; 1-year Lease; lease term Mar. 1, 2018 Feb. 28, 2019 with 90-day termination clause; at the rate of $1,575.00/month (4,000 sq. ft. warehouse with at a blended rate of $4.73/sq.ft./yr.). Personal guarantee. 2. New Lease (in conjunction with #1) CFLSS; 1501 & 1509 Dolgner Place; 5-year Lease; lease term Nov. 1, 2018 Oct. 31, 2023 with 90-day termination clause; at the rate of $1,575.00/month for first 2.5 years with a 5% increase to $1,653.75/month for the remaining 2.5 years (4,000 sq. ft. warehouse with at a blended rate of $4.73/sq.ft./yr.). Personal guarantee. 3. Lease Renewal Amerigas Propane, L.P.; 4350 Carraway Place; 1-year Lease; lease term Nov.1, 2018 Oct. 31, 2019; with a 5% rate increase to $148.18/month (0.127 acre a rate of $14,001.26/acre/yr.). 4. Lease Renewal Brand O Guitar Company; 1920 Dolgner Place; 1-year Lease; lease term Nov. 1, 2018 Oct. 31, 2019; at the budgeted rate of $1,653.75/month (3,000 sq. ft. warehouse with a blended rate of $6.61/sq.ft./yr.). Personal guarantee. 5. Lease Renewal - Fiberglass Plus, Inc.; 1543 & 1547 Dolgner Place; 1- year Lease; lease term Nov. 1, 2018 Oct. 31, 2019; with a 5% rate increase to $1,470.00/month (4,000 sq. ft. a blended rate of $4.41/sq.ft./yr.). Personal guarantee. Page 3 of 5

4 6. Lease Renewal Orlando Pump & Equipment, Co., LLC, 4421 Schilke Way, Suite 112; 1-year Lease; lease term Nov. 1, 2018 Oct. 31, 2019 with an existing 60-day termination clause; at the budgeted rate of $926.10/month (2,000 sq. ft. warehouse with a blended rate of $5.56/sq.ft./yr.). Personal guarantee. 7. Lease Renewal Petras Flooring, Inc. & Rhoads Construction, LLC; 1970 Dolgner Place; 1-year Lease; lease term Nov.1, 2018 Oct. 31, 2019; with a 5% rate increase to $1,470.00/month (4,000 sq. ft. a blended rate of $4.41/sq.ft./yr.). Personal guarantee. 8. Lease Renewal Sanford Boat Storage, Inc.; 1940 Kastner Place, Suite 1000; 1-year Lease; lease term Nov. 1, 2018 Oct. 31, 2019; at the budgeted rate of $8,610.00/month (32,700 sq. ft. a rate of $3.16/sq.ft./yr.). Personal guarantee. 9. Lease Renewal - Richardo Zayas, 1932 Dolgner Place; 1-year Lease; lease term Nov. 1, 2018 Oct. 31, 2019; at the budgeted rate of $882.00/month (1,500 sq. ft. warehouse with a blended rate of $7.05/sq.ft./yr.). 10. Lease Termination Brand O Guitar Company; 1429 Doglner Place; 1- year Lease; lease term Oct. 1, 2018-Sept. 30 th, 2019; at the monthly rate of $850.00/month (1,500 sq.ft. warehouse w/ a blended rate of $6.80/sq.ft./yr.). Personal guarantee. The Administrator presented leases #1-9 to the Board for discussion and review. Chairman Miller inquired about the 90-day termination clause on lease item number #2, the five-year lease with CFLSS, Inc. Discussion ensued. MOTION WAS MADE BY DANA MCBROOM, SECONDED BY KYLE KILGER TO APPROVE LEASES #3-9 AS PRESENTED, AND TO APPROVE LEASES #1 AND #2 WITHOUT THE 90-DAY TERMINATION CLAUSE. The Administrator presented lease item #10, the termination of Brand O Guitar Company s one-year lease on 1429 Dolgner Place. It was explained that Brand O Guitar Company is a long-term tenant, in good standing, presently occupying 4,500 square feet, who requested the lease for the additional 1,500 square feet. However, after Board approval, but before taking occupancy or paying the deposit on the unit, they decided they could not move forward with the lease. The Administrator asked the Board to terminate the lease. Page 4 of 5

5 MOTION WAS MADE BY MATTHEW CRISWELL, SECONDED BY SUSAN SHERMAN TO TERMINATE ITEM #10, BRAND O GUITAR COMPANY S LEASE ON 1429 DOLGNER PLACE. There being no further business, the meeting was adjourned at 4:31 p.m. by Chairman Miller. Cliff Miller, Chairman Dana McBroom, Treasurer Page 5 of 5