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Home My WebLink About212-15 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 212-15 File Number: 2015-0524 BALL PLAZA HOLDINGS, LLC: A RESOLUTION TO APPROVE A TWO YEAR SUBLEASE AGREEMENT WITH BALL PLAZA HOLDINGS, LLC FOR TEN PARKING SPACES LOCATED IN OFF-STREET PARKING DEVELOPMENT DISTRICT LOT 7 FOR THE PURPOSE OF CONVERTING THE SPACES FROM METERED PARKING TO FREE TWO HOUR PUBLIC PARKING AT A MONTHLY COST OF $35.00 PER 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 a two year sublease agreement with Ball Plaza Holdings, LLC for ten parking spaces located in Off - Street Parking Development District Lot 7 for the purpose of converting those spaces from metered parking to free two hour public parking at a monthly cost of $35.00 per space. PASSED and APPROVED on 12/1/2015 Attest: J" '5:. J'-�z `��19itElJ1,/0j Sondra E. Smith, City Clerk Treasurer op �a •<�' -moo f=AYEi�EVIL�f r ''.�95 gRKAN' • oJ��` '141 G T 0N; Page 1 Printed on 1212115 City of Fayetteville, Arkansas 113 West Mountain Street ,._ Fayetteville, AR 72701 ®6 (479) 575-8323 Text File File Number: 2015-0524 Agenda Date: 12/1/2015 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 2 BALL PLAZA HOLDINGS, LLC: A RESOLUTION TO APPROVE A TWO YEAR SUBLEASE AGREEMENT WITH BALL PLAZA HOLDINGS, LLC FOR TEN PARKING SPACES LOCATED IN OFF-STREET PARKING DEVELOPMENT DISTRICT LOT 7 FOR THE PURPOSE OF CONVERTING THE SPACES FROM METERED PARKING TO FREE TWO HOUR PUBLIC PARKING AT A MONTHLY COST OF $35.00 PER 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 a two year sublease agreement with Ball Plaza Holdings, LLC for ten parking spaces located in Off -Street Parking Development District Lot 7 for the purpose of converting those spaces from metered parking to free two hour public parking at a monthly cost of $35.00 per space. City of Fayetteville, Arkansas Page 1 Printed on 121312015 City of Fayetteville Staff Review Form 2015-0524 Legistar File ID 12/1/2015 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Melissa Elmore 11/5/2015 Parking & Telecommunications / Chief of Staff Submitted By Submitted Date Division / Department Action Recommendation: Staff recommends approving the Sublease Agreement with Ball Plaza Holdings, LLC. The term will be for two (2) years. The City will convert ten (10) metered parking spaces in Lot 7 to free 2 hour parking in a 4 hour time frame. Ball Plaza Holdings, LLC will pay rent of $35.00 per space per month. Spaces will remain 'Public Parking'. Account Number Project Number Budgeted Item? No Budget Impact: Current Budget Funds Obligated Current Balance Does item have a cost? No Item Cost Budget Adjustment Attached? No Budget Adjustment Remaining Budget Fund Project Title $ V20140710 Previous Ordinance or Resolution # Original Contract Number: Comments: Approval Date: CITY OF ARKANSAS CONTRACT REVIEW MEMO TO: Mayor Lioneld Jordan THRU: Peter Nierengarten, Sustainability & Resilience Department Director FROM: Melissa Elmore, Parking Management DATE: November 5, 2015 SUBJECT: Approve Sublease Agreement with Ball Plaza Holdings, LLC RECOMMENDATION: Staff recommends approving the Sublease Agreement with Ball Plaza Holdings, LLC. The term of this Sublease Agreement will be for two (2) years. BACKGROUND: In March of 2015, Ball Plaza Holdings, LLC, requested approval from the Off -Street Parking Development District #I (the "District") to convert ten (10) metered parking spaces in their Lot 7 to free 2 hour parking during any 4 hour period. In exchange for the conversion of these ten (10) metered parking spaces, Ball Plaza Holdings, LLC agreed to pay $35.00 per space per month. Approval was given by the District through their acceptance of the Amendment #1 to Lease Agreement between the City of Fayetteville and the District that was executed on October 30, 2015. The Sublease Agreement provides for the City to convert ten (10) metered parking spaces in Lot 7 (Exhibit A) to free 2 hour parking during any 4 hour period, provide parking enforcement for those spaces and collect the monthly rental amount of $350.00 from Ball Plaza Holding, LLC. The spaces will remain `Public' parking. At the end of the two (2) years, unless an extension is mutually agreed upon, the spaces will revert back to paid parking. BUDGET/STAFF IMPACT: There is no budget impact. The annual monthly rental of $4,200.00 will become a part of the `net operating revenues' that are paid back to the District on a quarterly basis. Mailing Address: PARKING MANAGEMENT 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 SUBLEASE AGREEMENT This Agreement, made and entered into this ii day of Y 015, by and between the City of Fayetteville, Arkansas, a Municipal Corporation, 113 W. Mountain, Fayetteville, Arkansas, as Sublessor, and Ball Plaza Holdings, LLC, 15 South Block Ave. Suite 201, Fayetteville, AR 72701, as Sublessee, and Witnesseth: 1. Leased Premises. For and in consideration of the rents, covenants and agreements herein entered into and agreed upon by Ball Plaza Holdings, LLC as obligations to the City of Fayetteville, the City of Fayetteville lets, leases and demises unto Ball Plaza Holdings, LLC, subject to the terms and conditions contained herein, the following described property situated in Washington, County, Arkansas: Ten (10) parking spaces, as set forth on Exhibit "A" attached hereto, located in the Off -Street Parking Districts Lot 7, west of the Ball Plaza Building between Meadow, Church, and Center Streets, a/k/a/ 185 West Meadow Street, Fayetteville, Arkansas. The same being a portion of the lands leased to the City of Fayetteville by the Off -Street Parking Development Distract No. 1, to have and to hold said premises unto Ball Plaza Holdings, LLC for and during the term herein stated, subject to the covenants, terms, conditions and liens herein contained. 2. Term. This term shall commence on November 15, 2015; and shall extend for a term of two (2) years, ending at midnight on November 14, 2017. The term of this lease may be terminated early or extended only upon the mutual agreement of Ball Plaza Holdings, LLC and the City of Fayetteville. 3. Rent. Ball Plaza Holdings, LLC agrees to pay to City of Fayetteville as rental for the term of this lease the sum of $35.00 per space per month. Each monthly payment is due in advance and payable on or before the first of each month. A late fee shall be imposed, at the highest rate allowable by law, on all payments which are not received by City of Fayetteville within five (5) business days from the due date. 4. Use. Ball Plaza Holdings, LLC agrees to use the lease premises only for the purpose of vehicle parking for use by the general public, with the understanding that, upon execution of this agreement, the parking spaces will be converted from metered parking to unpaid parking for up to two hours during any four hour period. The City of Fayetteville will provide parking enforcement for this parking area. 5. Improvements. Improvements to this parking area may only be made by, or with the approval of, the Off -Street Parking Development Distract No. 1, which is the owner of this lot, or by its successors or assigns. 1 6. Assignment. Ball Plaza Holdings, LLC shall not assign this sublease or sublet the leased premises without prior written consent of the City of Fayetteville. Consent for any assignment or subletting shall only be considered at the same rates as established in Paragraph 3 above. Any such assignment or subletting shall in no way relieve Ball Plaza Holdings, LLC from liability for the obligation imposed by this lease. Ball Plaza Holdings, LLC may only be released from liability by a specific written release executed by City of Fayetteville. 7. Holdover. Ball Plaza Holdings, LLC hereby agrees that upon termination of this lease by expiration or by earlier termination for any reason whatsoever, the parking spaces will be converted back to metered parking. In the event Ball Plaza Holdings, LLC shall be permitted by City of Fayetteville to hold over after the expiration or termination of this lease, said holding over, in the absence of any written agreement to the contrary, shall be construed as a tenancy from calendar month to calendar month at a monthly rental equal to the rental for the last month paid under this lease, or as may be amended on the anniversary of the term set forth in Paragraph 2 above. A month -to -month tenancy arising by Ball Plaza Holdings, LLC's holding over under this paragraph may be terminated by written notice from either party to the other party on or before the day on which any monthly rent is due with termination not becoming effective until the day on which the next following monthly rental would have otherwise become due. 8. Termination. The City of Fayetteville hereby reserves the right to terminate this Sublease at any time during the term of this Sublease if payment of rent in accordance with Paragraph 3 above is not received within five (5) business days from the due date. If the sublease is terminated, the parking spaces will be immediately re -converted to metered parking. 9. Non -Waiver. It is agreed that the failure of City of Fayetteville to invoke any of the available remedies under this sublease or under law in the event of one or more breaches or defaults by Ball Plaza Holdings, LLC under the lease shall not be construed as a waiver of such provisions and conditions and shall not prevent City of Fayetteville from invoking such remedies in the event of any future breach or default. 10. Succession. This lease agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors and assigns. 11. Severability. Each paragraph of this lease agreement is severable from all other paragraphs. In the event any court of competent jurisdiction determines that any paragraph or subparagraph is invalid or unenforceable for any reason, all remaining paragraphs and subparagraphs will remain in full force and effect. 12. Interpretation. This lease agreement shall be interpreted according to and enforced under the laws of the State of Arkansas. 13. Entire Agreement. This lease agreement contains the entire agreement of both parties hereto, and no other oral or written agreement shall be binding on the parties hereto. This lease agreement supersedes all prior agreements, contracts and understandings of any kind between the parties relating to the subject matter hereof. This agreement may be executed in all or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the date first written above. CITY OFF ETT BALL PLAZA HOLDINGS, LLC By: --- By: IONEL AN, Mayor Printed Name: 10 Q Lb t ATTEST: Title: By: SONDRA SMITH, City.,glFrk �.�°v� •G�(Y p�' SGT. . y :FAYETTEVILLE; • °°°e io f SON AMENDMENT #1 TO LEASE AGREEMENT BE IT KNOWN TO ALL: That the City of Fayetteville, Arkansas (the "City") and the Off -Street Parking Dev opntent Distract joj of he City of Fayetteville, Arkansas (the "District"), on this -:lay of a, hereby agree that their Lease Agreement of October 29, 2009; shall be amended by extending the term of the Lease Agreement retroactively from October 30, 2014, for a term of one (1) year from the effective date of this Amendment as set forth above, after which it shall automatically renew for four (4) additional one (1) year terms, unless the parties, by mutual agreement, choose to amend or terminate the Lease Agreement prior to the expiration of the then current term. Ten (10) metered spaces adjacent to the Ball Plaza building, as shown in the attached Exhibit "A", will be converted by the City to allow free public parking for up to two hours during any four hour period from 8:00 a.m. until 6:00 p.m. on Monday through Friday. The City ; of Fayetteville is responsible for collecting payment from Ball Plaza Holdings, LLC, which has agreed to sublease the spaces and pay $37.00 per space per month for the conversion of the metered spaces. M. eters will he reinstalled by the City and free public parking will end for these spaces two (2) years from the effective date of sublease unless Ball Plaza Holdings, I..J..C and the City of Fayetteville, by mutual agreement, choose to extend or terminate the sublease before that time, or if payment is not received by the City of Fayetteville in accordance with the sublease. The parties agree and understand that this Amendment is supplemental to their Lease Agreement of:' October 29, 2009, and that it does not alter, amend or abridge any of the rights, obligations, or duties of the parties not expressly addressed herein. IN WITNESS WhIEREOF, the parties hereto have caused their signatures to be set by their authorized representative effective the date set forth herein above. Off -Street Parking Development District City of yetteville, Arkansas No. I of the City of Fayetteville, Arkansas Chairman of the Board of improvement WITNESS: ATTES,I. Sondra E. Smith, City Clerk-ireaer AYI ` 7 /i;, Exhibit A Oft -Street Parking District Lots Li 7 lots 7, 8, 9, and 10 in Block 17 of original Town Pint of Fayetteville, Arkansas (parcels: 765- 01849 -000,765 -01850 -000,765 -01851 -000,765.01852.000,765.01853-000,765-018554-000,765.01855- 000) Lot 12 - lot I and part of lot 2 in Block 25 of original Town Plat of Fayetteville, Arkansas (parcel: 765- 01914.000) Lot 1_3 - lots I and 2 in Block 13 of original Town Plat of Fayetteville, Arkansas (parcels: 765-01794-000, 765.01795-000)