ACFR FY 2023 Final - Flipbook - Page 82
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 2 - Lease Receivable
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El Marie9s Pizzeria Lease
On April 2, 2020, the City of Eustis began leasing the building located near Ferran park at 200
N bay Stÿ to El marie9s pizzeria as a pizza restaurantÿ The lease term is for six years,three months
and 29 daysÿ The City of Eustis receives monthly payments of $1,300ÿ
The Lake of Eustis Area Chamber of Commerce Lease
On July 1, 2019, the City of Eustis began leasing the building located at 1W Orange Aveÿ to the
Lake Eustis Area Chamber of Commerce Inc. for their ofoce. The lease term is for ove years.
The City of Eustis received monthly payments of $800 for the orst six months, and the following
six months payment was reduced to $550 a month, because of building conditions that the City
is obligated to ox.
Crown Castle, LLC (AT&T Wireless) Lease
On August 30, 2011, the City of Eustis began leasing the land located at 1101 David Walker Drÿ
to Crown Castle, LLC (AT&T Wireless), for a cellular phone tower. The lease term is for thirty
yearsÿ The City of Eustis receives monthly payments of $4,170ÿ
PrimeCo Personal Communications (Verizon Wireless) Lease
On November 1, 2001, the City of Eustis began leasing the land located at bates Aveÿ to primeCo
personal Communications Limited partnership (Verizon Wireless), for a cellular phone towerÿ
The lease term is for ofty years. The City of Eustis received monthly payments of $3,573.
As of September 30, 2023, the City of Eustis receivable for lease payments was $7,339ÿ Also, the
City of Eustis has a deferred inflow of resources associated with this lease that will be recognized
as revenue over the lease termÿ Additional information can be found in the budgetary Highlights
section, Table 11, page 40ÿ
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Annual Comprehensive Financial Report | September 30, 2023
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