HomeMy WebLinkAbout1954-05-24 Minutes52 z
Fayetteville City Council met in a CALLED session, monday,P,Iay 24th,1954, at 5:30 O'clock P.M.
C ll�jresent: Mayor Roy A Scott, City Clerk J.W.McGehee, City Attorney A,D.McAllister,City
Meeting$ngineer W.C.Smith,City Auditor Harold Zick;and Aldermen: Richardson, Burge, Huni:,Pratt,
to Williams.McAllister, Heflin and ''Alekander'.._:
onsider the Mayor stated that the meeting had been called for the purpose�of considering the leasing
a parking f the !Nest Half of Blk. 26, O.T. of Fayettevolle.for a parking lot by the City of Fayett
lot ville, for a period of Twenty((20).3.ears,q a copy of the PROPOSAL being as follows:
1 May 19, 1954
At a meeting held this morning of a group of business men called together to lis en
o a proposal from Clifton Wade,at.torney for the Byrnes' property, relative to the leasin_ r�"
f their property for a parking lot by the City of Fayet,teville,the Committee adopted the
ffollowing resolution: ,
That we recommend to the Off -Street Parking Commmttee of the City of Fayetteville
City Council that vie submit to Clifton Wade as attorney for the Byrnes'family an offer
Is follows:
(1)To lease for a period of twenty years W1 of Blk 26, O.T. of Fayetteville at
rental for the first ten years of fp500.00 monthly,payable in advance,and that at the
end of this ten-year period,rental be negotiated to determine the monthly rental for the
next five-year period; and at the end of the fifteen -year period, another negotiation to
'e made to determine rental of the last five-year period -with a stipulation that the rent 1
or the two final five-year periods be not less than the $500.00 monthly for the first
en -year period.
(2) That in addition to leasing the property,the offer contain a ?3,000.00
salvage of all buildings on said property- except those occupied at present by Swift &c
ompany;and RedBall Transfer Company.
(3) That the -rental from these buildings during the period of the lease go to
he City of Fayetteville.
(4) That the offer contain also an agreement on the part of the City tro pay
all taxes and assessments or service charges on this properyy and to carry adequate insur-
tnce on the property or as lease or any of the property may require-- with the owners as
he beneficiary of said insurance policies. .
(5) That the offer contain an agreement on the part of the City to accept as
n obligation the maintenance or repair claftse,or clauses, now included in the Red Ball
Transfer Company Lease and an ordinary maintenance on the Building now occupied by Swift
Company.
(6) Any improvements on the property'to be accomplished by City at its expense
and risk;same to be used as a public parking lot.
(7) The lease to contain usual clauses to be mutually acceptable to both City
nd Byrnes.
It.was the opinion of the group in its discussion this morning that the net
lost to the City of Fayetteville for such operation would likely be very little,if any,
The figures used in arriving at this conclusion are as follows:
IMMEDIATE CAPITAL EXPEDITURES TO PREPARE THE LOT
Bonus for property owners
Preparing the lot for Black -topping 500 00-%:;a
Black -topping 21000 00iwtt
Curbs and setting meters 1,500.00;:;;
Total ................................. 0"2000.00
;:The Committee spill raise this $3,000.00
by subscription, -subtracting ......... .?310
a; These figures are based on discus-.
sions with.City Engineer.
MOIITHLY COST TO CITY
Ivionthly ren a yb 100.00
Ta:.es broken down to monthly cost 620-50
Insurance cost based on present rates 21.00
Amortization of immediate Capital
Expenditures over 20 -year period 26:67
Estimated up -keep 25.00
635
ESTIMATED 1NCOI1
Rent from Red Ball Transfer s? 100.00
Rent from Swift & Company 50.00
Rent from Carter Radiator Shop 30:00
I+?eter Income
arriving at the fj}50.00 Meter Income,
vie have used 2V a day. average for 72 meters
and a 25 day month,T his woyld be :6.25
per month average for the meters. At present,
the 547 meters in use are averaging ;4'.GO to
(?5.60 per month, this includes badly located meters.
Actual net cost to the City ,using these figures,would,•he about ,,6.00 per month,
his included interest, as interest on tie4,000.00 has been figured at 6c for the twenty -
ear period. If the interest was left out
out and t.heS.Estlrrated Income Figures prove to be
correct it would not cost the Cit ane single pennya month.
It is the Committee's opinion twat the securing of this parking lot plus other
parking lots will go a long ways toward solving the traffic problem;,that you have had on
our neck for years and years. At least we believe it is the first step toward the solu-
tion of it;and a strong possibility that it would make one-way streets unnecessary until
later period at least.
After hearing from a number o the members of the Chamber of Commerce, and a gener 1
iscussion by members '?f the Counci Alderman McAllister mad$a motion _ that no
ction be taken at this time and -that the Council adjourn till June 1st at 5:30 P.M. to
onstder the o os�1 further th's otion w^s s conded by, derma Wiliiams and was passed
animously,ai he TIayo dec areA tN meeti$g aedjour ned tx enlst a :�0, P.P.t.
ATTEST: �t�C�� CITY CLERK APPROVED � " OR
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