Lakeland CRA approves lease with Well Done Development through 2027, adds event use and purchase provisions

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, property management and maintenance fees, and assessed property taxes will be billed to the tenant as part of monthly invoices, consistent with prior practice.

On use and events, Landback said the lease edits the prior "solely for office" language to allow property use "primarily for office related activities to support the advancement of small business and workforce development" and adds an accessory use permitting the leased premises "occasionally" to serve as a limited-capacity event venue, banquet hall, meeting space or similar establishment that supports the primary use. The lease reiterates compliance with occupancy limits, building and fire codes; staff said the building's occupancy had been discussed as 48 people.

Parking beyond 17 on-site spaces was not included in the lease; staff said any additional parking or use of the lot across the street requires a separate license or agreement. Board members and staff discussed parking constraints for events and ongoing negotiations for an accompanying parking license agreement.

The lease also adds a written offer-to-purchase provision that allows Well Done Development to submit a notice of intent with a $10,000 refundable deposit to be applied to the purchase price; the CRA would then run the statutory public-notice process and consider all responsive proposals. The right-of-first-refusal provision remains but was revised to require matching the same terms and conditions within 30 days and to forfeit the right if the prospective purchaser fails to close within the specified period.

Board members asked about the lack of an automatic renewal and how that would affect incentives to pursue purchase. City attorneys said the fixed term and the absence of automatic renewal are intended to encourage a timely offer and to avoid marketability complications if the CRA is attempting to assemble parcels.

After discussion, the board voted to recommend approval of the lease; staff said the item will go to the City Commission on March 17 for final action.