FACILITIESAPPROVED

Jackson County School District Commercial Lease Agreement WOV, LLC May 2026

School District Approves 25-Year Land Lease to WOV LLC

$5,750.00 for the first year; annual rent subject to periodic fair market adjustmentsOcean Springs School DistrictWOV LLCMay 11, 2026

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Description

The Jackson County School District entered into a 25-year commercial 16th Section land lease with WOV, LLC beginning May 11, 2026, for approximately 1.03 acres in Jackson County at an initial annual rent of $5,750. The agreement allows use of the property as a retail ice outlet and includes periodic fair market rent adjustments and an option for a second 25-year term.

Contract Details

Contract Amount

$5,750.00 for the first year; annual rent subject to periodic fair market adjustments

Vendor

WOV LLC

Agency

Ocean Springs School District, MS

Contract Type

FACILITIES

Document Date

May 11, 2026

Contract Term

May 11, 2026 – May 11, 2051, with an option for one additional 25-year term

Renewal Date

2051-05-11

Renewal Info

Lessee may renew for one additional 25-year secondary term from May 11, 2051, under the same terms and conditions except that rent will be based on fair market land value (excluding non-district improvements) as determined by an appraiser selected by the district within 3–12 months before primary term expiration. Lessee must give written notice at least 12 months before May 11, 2051, and tender the new annual rent; a new lease must be executed for the secondary term.