Department
Real Estate and Asset Management
Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a Resolution approving a Ground Lease Agreement between Fulton County, Georgia (Landlord ) and Pro Player Holdings, LLC (Tenant ) for the purpose of leasing approximately 19 acres of real property at Camp Truitt for the purpose of developing athletic facilities onsite with rental proceeds to be used in the furtherance of 4H activities; authorizing the Chairman to execute a Ground Lease Agreement and related documents; authorizing the County Attorney to approve a Ground Lease Agreement and related documents as to form and to make any modifications thereto prior to execution; and for other purposes. (REMOVED)
ITEM REMOVED FROM THE RECESS MEETING AGENDA AS REQUESTED BY COMMISSIONER ABDUR-RAHMAN
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Requirement for Board Action (Cite specific Board policy, statute or code requirement)
Pursuant to Fulton County Code § 1-117, the Fulton County Board of Commissions has exclusive jurisdiction and control over directing and controlling all property of the County.
Strategic Priority Area related to this item (If yes, note strategic priority area below)
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: Pro Player Holding, LLC is requesting the approval of the Fulton County Board of Commissioners to lease approximately 19 acres of real property formally known as Camp Truitt. Pending the approval of the Board of Commissioners the subject real property will be developed with a 50,000 square feet athletic facility that will include indoor basketball and volleyball courts with retractable seating, an indoor soccer field, an Olympic size indoor pool, an indoor 300 meter track and weight training rooms. The Department of Real Estate and Asset Management (“DREAM”) and Pro Player Holdings, LLC have negotiated mutually acceptable ground lease and revenue sharing terms for the purpose of ground leasing approximately 19 acres of County owned real property. Said terms include (i) a 30 year term with two optional 10 year renewal options, (ii) yearly rent of $27,200 ($2,266.67 per month) based on the results of a ground rent appraisal report, (iii) the obligation of Pro Player Holdings to complete construction of their improvements within four (4) years of the Effective Date of the ground lease agreement, and (iv) a one-time payment of $1,000,000.00 to be made 30 days after the end of the Due Diligence Period (120 days after lease execution), to be held in escrow until the date construction of the improvements begins. DREAM and Office of the County Attorney completed a comprehensive review of the County’s vesting deeds and concluded that leasing of the subject property for the development of recreational facilities is consistent with the deed restriction contained in the County’s limited warranty deed. Further, the proceeds from the lease paid to the County are expected to be used to fund 4H activities, uses that are expressly allowed under the vesting deeds. Presently, Fulton County’s Cooperative Extension Program provides its community services from this location and the proposed onsite development will not impact daily operations and the services being provided. Pursuant to Fulton County Code § 1-117, the Fulton County Board of Commissions has exclusive jurisdiction and control over directing and controlling all property of the county.
Community Impact: Approval of the Ground Lease Agreement will be a public and formal statement of Fulton County’s commitment to optimizing opportunities to provide public health benefits to residents cost efficiently.
Department Recommendation: The Department of Real Estate and Asset Management recommends approval be granted to execute the Ground Lease Agreement with Pro Player Holding LLC for purpose of developing an 50,000 square feet athletic facility that will include; indoor basketball and volleyball courts with retractable seating, an indoor soccer field, an Olympic size indoor pool, an indoor 300 meter track and weight training rooms.
Project Implications: The Board of Commissioners’ approval to execute a Ground Lease Agreement with Pro Player Holding LLC is consistent with the Fulton County initiatives that all people trust government to be fiscally sound and efficient
Community Issues/Concerns: None
Department Issues/Concerns: None