HomeMy WebLinkAbout139-15 RESOLUTIONRESOLUTION NO. 139-15
A RESOLUTION TO APPROVE LEASE AGREEMENTS FOR FOUR (4)
PARKING SPACES LOCATED IN FAYETTEVILLE MUNICIPAL PARKING
LOT 1 LOCATED AT 160 WEST MOUNTAIN STREET FOR ONE (1) YEAR
WITH THE OPTION TO RENEW FOR FOUR (4) ADDITIONAL ONE-YEAR
TERMS AT A MONTHLY COST OF $50.00 PER PARKING SPACE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves Lease
Agreements, copies of which are attached to this Resolution, for four (4) parking spaces located in
Fayetteville Municipal Parking Lot 1 located at 160 West Mountain Street for one (1) year with
the option to renew for four (4) additional one-year terms at a monthly cost of $50.00 per parking
space.
PASSED and APPROVED this 18`h day of August, 2015.
ATTEST:
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SONDRA E. SMITH, City Clerk Treasurer
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Text File
File Number: 2015-0340
Agenda Date: 8/18/2015 Version.1 Status: Agenda Ready
In Control: City Council Meeting File Type: Resolution
Agenda Number: A. 3
FAYETTEVILLE MUNICIPAL PARKING LOT 1
A RESOLUTION TO APPROVE LEASE AGREEMENTS FOR FOUR (4) PARKING SPACES
LOCATED IN FAYETTEVILLE MUNICIPAL PARKING LOT 1 AT 160 WEST MOUNTAIN
STREET FOR ONE (1) YEAR WITH THE OPTION TO RENEW FOR FOUR (4) ADDITIONAL
ONE-YEAR TERMS AT A MONTHLY COST OF $50.00 PER PARKING SPACE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves Lease
Agreements, copies of which are attached to this Resolution, for four (4) parking spaces located in
Fayetteville Municipal Parking Lot tat 160 West Mountain Street for one (1) year with the option to
renew for four (4) additional one-year terms at a monthly cost of $50.00 per parking space.
City of Fayefteville Arkansas Page 1 Printed on 8/1412015
City of Fayetteville Staff Review Form
2015-0340
Legistar File iD
8/18/2015
City Council Meeting Date - Agenda item Only
N/A for Non -Agenda item
Melissa Elmore 7/22/2015 Parking & Telecommunications /
Utilities Department
Submitted By Submitted Date Division / Department
Action Recommendation:
A resolution approving Lease Agreements for 4 parking spaces in Municipal Parking Lot 1 of the City of Fayetteville.
Account Number
Project Number
Budgeted Item? No
Does item have a cost? No
Budget Adjustment Attached? No
Previous Ordinance or Resolution # 140-05
Original Contract Number:
Comments:
Budget Impact;
Current Budget
Funds Obligated
Current Balance
Item Cost
Budget Adjustment
Remaining Budget
Fund
Project Title
V20140710
Approval Date: 18, /17IJ52
11
CITY OF
7ayTIle
NSAS
MEETING OF AUGUST 18, 2015
TO: Mayor and City Council
THRU: Don Marr, Chief of Staff
FROM: Melissa Elmore, Parking Management
DATE: July 22, 2015
CITY COUNCIL AGENDA MEMO
SUBJECT: Approval of Parking tease Agreements in Parking Lot 1
RECOMMENDATION:
Staff recommends approving Parking Lease Agreements on 4 parking spaces in Lot 1. These
spaces are located in the Municipal Parking Lot 1, west of the Campbell Bell Building between
Mountain, Church and Center Streets, a/k/a 160 West Mountain Street. The term of each lease
will run for one (1) year with the option to renew the lease for four (4) additional one-year terms.
BACKGROUND:
During 2010, the City entered into lease agreements on 4 parking spaces in Parking Lot 1. Fulton
Enterprises, Inc. d/b/a Town and Country Shop leased 4 spaces for retail customers. In 2011,
Fulton Enterprises requested the cancellation of 2 of the 4 leased spaces. These 2 spaces were
subsequently leased to Edward Jones. Each space leases for $50.00 per month.
DISCUSSION:
The City currently holds leases on 18 parking spaces in Municipal Parking Lot 1. Campbell Bell
POA leases 14 spaces for the condominium owners located in the Campbell Bell Building on the
west side of the Square; Fulton Enterprises, Inc. d/b/a Town and Country Shop and Edward
Jones.
BUDGET/STAFF IMPACT:
The 4 spaces generate $2,400.00 per year. The total revenue on all 18 spaces is $10,800.00
per year.
Attachments:
The new leases will be arranged as follows:
• Fulton Enterprises, Inc. —2 spaces (Space #8, 9)
• Edward Jones — 2 spaces (Space #32, 33)
Mailing .Address:
113 W. Mountain Street www.fayetteviile-ar.gov
Fayetteville, AR 72701