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Lakeland CRA approves lease with Well Done Development through 2027, adds event use and purchase provisions
Summary
The City of Lakeland Community Redevelopment Advisory Board on March 20 recommended approval of a successor lease with Well Done Development that would run from April 1, 2025, through Dec. 31, 2027, and would not include an automatic renewal option.
The City of Lakeland Community Redevelopment Advisory Board on March 20 recommended approval of a successor lease with Well Done Development that would run from April 1, 2025, through Dec. 31, 2027, and would not include an automatic renewal option. City attorneys and staff said the new agreement preserves the existing rent schedule, clarifies maintenance responsibilities, allows limited event use, and formalizes a process for purchase offers.
Assistant City Attorney Alex Landback told the board that the lease maintains the current base rent of $4.20 per square foot, with a 2.5% annual increase. The agreement also specifies that property insurance premiums,…
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