Sarasota County, Florida Notes to Financial Statements September 30, 2022 Leases as Lessor On October 1, 2021, the County implemented a 159-month lease as lessor for the use of Knights Trail Park training facilities. An initial lease receivable was recorded in the amount of $436,893. As of year-end, the value of the lease receivable is $410,326. The lessee is required to make monthly fixed payments of $2,598 the lease has an interest rate of 1.2940%. The lessee has 2 extension option(s), each for 60 months. On October 1, 2021, the County implemented a 99-month lease as lessor for the use of a land parcel. An initial lease receivable was recorded in the amount of $358,671. As of year-end, the value of the lease receivable is $321,546. The lessee is required to make monthly fixed payments of $3,079 the lease has an interest rate of 0.2980%. The lessee has 1 extension option, for 60 months. The lessee had a termination period of 6 months as of the lease commencement. Principal and Interest Expected to Maturity Fiscal Year Principal Payments Interest Payments Total Payments 2023 38,672 906 39,578 2024 40,372 788 41,161 2025 42,142 666 42,807 2026 43,982 537 44,519 2027 45,896 404 46,300 2028 - 2032 110,482 390 110,871 Fiscal Year Principal Payments Interest Payments Total Payments 2023 27,071 5,150 32,222 2024 28,072 4,794 32,866 2025 29,098 4,425 33,523 2026 30,152 4,042 34,194 2027 31,232 3,646 34,878 2028 - 2032 173,363 11,772 185,135 2033 - 2035 91,338 1,445 92,784 Governmental Activities Business-Type Activities 114
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