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ITEM: AUTHORIZATION TO NEGOTIATE A COMPREHENSIVE AGREEMENT FOR THE CONSTRUCTION, OPERATION AND MAINTENANCE OF PADEL COURTS
REQUEST: Authorization to negotiate a comprehensive agreement with 10BY20, LLC. for the construction, operation and maintenance of Padel courts at the Wellington Tennis Center.
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EXPLANATION: On July 5, 2023 the Village received an unsolicited proposal from 10BY20, LLC for the construction, operation and maintenance of Padel courts at the Wellington Tennis Center.
On August 8, 2023, pursuant to Florida statutes 255.065, Council authorized staff to publish a 21-day notice in the Florida Administrative Register and a newspaper of general circulation to determine similar interest of other parties.
On September 6, 2023, the Village received a proposal from Inversiones Big Alexander, which includes a group of companies dedicated to operating Padel Club venues.
Below is a summary of both the 10BY20, LLC and Inversiones Big Alexander proposals:
|
Proposer |
Term |
Estimated Initial Capital Investment |
# of Courts |
Proposed Annual Revenue to the Village |
|
10BY20, LLC |
10 Years |
$1,500,000 |
7 |
$126,000 |
|
Inversiones |
10 Years |
$596,000 |
4 |
$0 |
Based on an evaluation conducted for each proposal, staff recommends negotiating a comprehensive agreement with 10BY20, LLC. for the construction, operation and maintenance of Padel courts at the Wellington Tennis Center.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: None until an agreement is executed.
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Authorization to negotiate a contract with 10BY20, LLC. for the construction, operation and maintenance of Padel courts at the Wellington Tennis Center.