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Okaloosa County BOCC — October 21, 2014 — OCTC - Niceville Office Lease (Ruckel) — reading text
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Niceville Office
Rent, Property Taxes, and Insurance
Difference Difference Difference
Percentage from Previous from Percentage from Percentage
Fiscal Year Rent Increase Months Total Rent Year Property Taxes Previous Year Change Insurance Previous Year Change Lease Total
FY 05/06 $ 12,250.00 - 11 $ 134,750.00 $ - $ - $ - 0.00% $ - $ - 0.00% $ 134,750.00
FY 06/07 $ 12,250.00 - 12 $ 147,000.00 $ 12,250.00 $ - $ - 0.00% $ - $ - 0.00% $ 147,000.00
FY 07/08 $ 12,250.00 - 12 $ 147,000.00 $ - $ 10,845.86 $ 10,845.86 100.00% $ - $ - 0.00% $ 157,845.86
FY 08/09 $ 14,089.84 15.02% 12 $ 169,078.08 $ 22,078.08 $ 11,125.29 $ 279.43 2.58% $ 3,760.00 $ 3,760.00 100.00% $ 183,963.37
FY 09/10 $ 15,921.52 13.00% 12 $ 191,058.24 $ 21,980.16 $ 9,253.12 $ (1,872.17) -16.83% $ 9,253.12 $ 5,493.12 146.09% $ 209,564.48
FY 10/11 $ 18,239.76 14.56% 12 $ 218,877.12 $ 27,818.88 $ 10,321.22 $ 1,068.10 11.54% $ 9,243.67 $ (9.45) -0.10% $ 238,442.01
FY 11/12 $ 18,932.87 3.80% 12 $ 227,194.44 $ 8,317.32 $ 8,953.10 $ (1,368.12) -13.26% $ 8,764.73 $ (478.94) -5.18% $ 244,912.27
FY 12/13 $ 19,500.86 3.00% 12 $ 234,010.32 $ 6,815.88 $ 8,269.14 $ (683.96) -7.64% $ 10,448.66 $ 1,683.93 19.21% $ 252,728.12
FY 13/14 $ 20,085.89 3.00% 12 $ 241,030.68 $ 7,020.36 $ 8,201.71 $ (67.43) -0.82% $ 10,584.09 $ 135.43 1.30% $ 259,816.48
FY 14/15 $ 20,688.47 3.00% 12 $ 248,261.64 $ 7,230.96 $ 8,693.81 $ 492.10 6.00% $ 12,171.70 $ 1,587.61 15.00% $ 269,127.16
FY 15/16 $ 21,516.01 4.00% 12 $ 258,192.11 $ 9,930.47 $ 9,215.44 $ 521.63 6.00% $ 13,997.46 $ 1,825.76 15.00% $ 281,405.01
FY 16/17 $ 22,376.65 4.00% 12 $ 268,519.79 $ 10,327.68 $ 9,768.37 $ 552.93 6.00% $ 16,097.08 $ 2,099.62 15.00% $ 294,385.24
FY 17/18 $ 23,271.72 4.00% 12 $ 279,260.58 $ 10,740.79 $ 10,354.47 $ 586.10 6.00% $ 18,511.64 $ 2,414.56 15.00% $ 308,126.69
FY 18/19 $ 24,202.58 4.00% 12 $ 290,431.00 $ 11,170.42 $ 10,975.74 $ 621.27 6.00% $ 21,288.39 $ 2,776.75 15.00% $ 322,695.13
FY 19/20 $ 25,170.69 4.00% 12 $ 302,048.24 $ 11,617.24 $ 11,634.28 $ 658.54 6.00% $ 24,481.64 $ 3,193.26 15.00% $ 338,164.17
FY 20/21 $ 26,177.51 4.00% 12 $ 314,130.17 $ 12,081.93 $ 12,332.34 $ 698.06 6.00% $ 28,153.89 $ 3,672.25 15.00% $ 354,616.40
FY 21/22 $ 27,224.62 4.00% 12 $ 326,695.38 $ 12,565.21 $ 13,072.28 $ 739.94 6.00% $ 32,376.97 $ 4,223.08 15.00% $ 372,144.63
FY 22/23 $ 28,313.60 4.00% 12 $ 339,763.20 $ 13,067.82 $ 13,856.62 $ 784.34 6.00% $ 37,233.52 $ 4,856.55 15.00% $ 390,853.33
FY 23/24 $ 29,446.14 4.00% 12 $ 353,353.72 $ 13,590.53 $ 14,688.01 $ 831.40 6.00% $ 42,818.55 $ 5,585.03 15.00% $ 410,860.29
FY 24/25 $ 30,623.99 4.00% 12 $ 367,487.87 $ 14,134.15 $ 15,569.29 $ 881.28 6.00% $ 49,241.33 $ 6,422.78 15.00% $ 432,298.50
Total** $ 5,058,142.60 $ 197,130.10 $ 348,426.44 $ 5,603,699.13
Total to Pay
from FY15 to $ 3,348,143.72 $ 130,160.66 $ 296,372.17 $ 3,774,676.54
FY25
FY 25/26 $ 31,848.95 4.00% 12 $ 382,187.39 $ 14,699.51 $ 16,503.45 $ 934.16 6.00% $ 56,627.53 $ 7,386.20 15.00% $ 455,318.37
FY 26/27 $ 33,122.91 4.00% 12 $ 397,474.88 $ 15,287.50 $ 17,493.66 $ 990.21 6.00% $ 65,121.66 $ 8,494.13 15.00% $ 480,090.20
FY 27/28 $ 34,447.82 4.00% 12 $ 413,373.88 $ 15,899.00 $ 18,543.28 $ 1,049.62 6.00% $ 74,889.91 $ 9,768.25 15.00% $ 506,807.06
FY 28/29 $ 35,825.74 4.00% 12 $ 429,908.83 $ 16,534.96 $ 19,655.88 $ 1,112.60 6.00% $ 86,123.39 $ 11,233.49 15.00% $ 535,688.10
FY 29/30 $ 37,258.77 4.00% 12 $ 447,105.19 $ 17,196.35 $ 20,835.23 $ 1,179.35 6.00% $ 99,041.90 $ 12,918.51 15.00% $ 566,982.32
FY 30/31 $ 38,749.12 4.00% 12 $ 464,989.40 $ 17,884.21 $ 22,085.34 $ 1,250.11 6.00% $ 113,898.19 $ 14,856.29 15.00% $ 600,972.92
FY 31/32 $ 40,299.08 4.00% 12 $ 483,588.97 $ 18,599.58 $ 23,410.46 $ 1,325.12 6.00% $ 130,982.91 $ 17,084.73 15.00% $ 637,982.35
FY 32/33 $ 41,911.04 4.00% 12 $ 502,932.53 $ 19,343.56 $ 24,815.09 $ 1,404.63 6.00% $ 150,630.35 $ 19,647.44 15.00% $ 678,377.97
FY 33/34 $ 43,587.49 4.00% 12 $ 523,049.83 $ 20,117.30 $ 26,304.00 $ 1,488.91 6.00% $ 173,224.90 $ 22,594.55 15.00% $ 722,578.73
FY 34/35 $ 45,330.99 4.00% 12 $ 543,971.82 $ 20,921.99 $ 27,882.23 $ 1,578.24 6.00% $ 199,208.64 $ 25,983.74 15.00% $ 771,062.70
Total $ 4,588,582.73 $ 217,528.62 $ 1,149,749.39 $ 5,955,860.73
Total to Pay
from FY15 to $ 7,936,726.45 $ 347,689.27 $ 1,446,121.55 $ 9,730,537.27
FY35***
**Current Ruckel contract/lease period (20 year lease beginning in November 2005) as of 9/30/14
***Remaining Lease term plus additional 10 year lease