DATE: April 9, 2025
TO: Honorable Mayor and City Councilmembers
FROM: Public Works Department
TITLE: AMENDMENT 6 TO PERCENTAGE PROPERTY LEASE AGREEMENT WITH CHARLES ANDERSON AND JENNIFER MOYER, DBA BUCCANEER BEACH CLUB
RECOMMENDATION
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Staff recommends that the City Council approve Amendment 6 to the Percentage Property Lease Agreement with Charles Anderson and Jennifer Moyer, dba Buccaneer Beach Club, for the premises located at 1508 South Pacific Street, extending the agreement from April 1, 2025 to March 31, 2027, for a two-year minimum total revenue of $30,091; and authorize the City Manager to execute the amendment upon receipt of all supporting documents.
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BACKGROUND AND ANALYSIS
On September 8, 2010, the City entered into a Percentage Property Lease Agreement with Charles Anderson, dba Buccaneer Beach Club ("Lessee") to provide a food concession at the premises located at 1508 South Pacific Street.
On March 4, 2015, the City Council approved Amendment 1 to the Agreement, Amendment 2 on April 11, 2018, Amendment 3 on March 24, 2021, Amendment 4 on March 23, 2022 and Amendment 5 on March 22. 2023. Lessee has requested a two-year extension of the Agreement to continue food concession operations at the leased premises.
Due to a pending Project Study for Buccaneer Park Improvements, the proposed amendment extends the term of the Agreement for two years and includes a provision for one additional one-year extension option contingent on the outcome of the Project Study. Monthly rent will be ten percent of monthly gross income or the minimum monthly rent, whichever is greater. The minimum rent described in the following table is adjusted annually based on the semi-annual Consumer Price Index, in no event shall the adjusted rent increase be less than four percent or more than eight percent per year.
FISCAL IMPACT
Description
1st Year Annual Amount
2-Year Minimum Revenue Amount
Revenue Account
Buccaneer Beach Club
Minimum Rent Revenue
$14,75...
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