FACILITIESAPPROVED

Jackson County School District Commercial Lease Agreement May 2026

School District Leases 16th Section Land to Pinebelt Restaurant

$3,850.00 for the first year; annual rent thereafter subject to periodic fair market adjustmentsOcean Springs School DistrictPINEBELT RESTAURANT LLCMay 11, 2026

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Description

Jackson County School District entered into a 16th Section commercial land lease with Pinebelt Restaurant, LLC for a 0.61-acre parcel to operate a retail ice outlet. The 25-year lease runs from May 11, 2026, to May 11, 2051, with first-year rent of $3,850 and periodic fair market rent adjustments, and includes an option for an additional 25-year renewal term based on future appraisal.

Contract Details

Contract Amount

$3,850.00 for the first year; annual rent thereafter subject to periodic fair market adjustments

Vendor

PINEBELT RESTAURANT LLC

Agency

Ocean Springs School District, MS

Contract Type

FACILITIES

Document Date

May 11, 2026

Contract Term

May 11, 2026 – May 11, 2051 primary term (25 years), with an option for an additional 25‑year secondary term

Renewal Date

2051-05-11

Renewal Info

Lessee may renew for a secondary 25-year term beginning May 11, 2051, by providing written notice at least 12 months before primary term expiration and tendering the new annual rent based on a fair market value appraisal obtained 3–12 months before expiration; a new lease must be executed for the secondary term.