AGENDA MEMORANDUM

Meeting Date:           November 26, 2007

From:                          Kenneth L. Thomas, Director of Housing & Economic Development

Subject:                      Resolution authorizing a lease agreement with The Entrepreneur’s Source to lease space at the Leesburg Business & Technology Center/Incubator

Staff Recommendation:

Staff recommends approval of the lease agreement with The Entrepreneur’s Source to lease space at the Business Incubator for a three year term. 

Analysis:

The Business Incubator currently has eight new office spaces for new and emerging businesses that will provide a service or product to our community.  The proposed lease agreement will allow The Entrepreneur’s Source to locate their operation in the Business Incubator for a three year period.  The Entrepreneur’s Source is a premier company focused on self-employment options and franchising opportunities.  The Entrepreneur’s Source will help coach other budding entrepreneurs through the evaluation of their goals and prospective company expectations.  The Entrepreneur’s Source will guide individuals through career transitions, and to discover what options are right for the individuals. 

Options:

1.  Approve the three-year contract between The Entrepreneur’s Source and the City of Leesburg

     Business Incubator for lease space or;

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

The three year lease agreement will provide $10,800 to the City.

Submission Date and Time:    11/21/2007 6:16 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT WITH THE ENTREPRENEUR'S SOURCE FOR OFFICE SPACE AT THE BUSINESS INCUBATOR; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement with The Entrepreneur’s Source whose address is Post Office Box 1987, Lady Lake, Florida 32158-1987 for a three year lease agreement.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the __26th___ day of __November_______ 2007

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk