Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Commercial Lease Agreement Between First United Methodist Church of McKinney and the City of McKinney for a Downtown Parking Lot
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: February 21, 2017
DEPARTMENT: City Manager’s Office
CONTACT: Barry Shelton, Assistant City Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution.
ITEM SUMMARY:
• This Resolution authorizes the City Manager to execute a lease agreement between First United Methodist Church of McKinney and the City of McKinney.
• The lease will provide public access to the church owned parking lot on the southwest corner of Kentucky Street and Lamar Street.
BACKGROUND INFORMATION:
• Representatives of First United Methodist Church of McKinney approached the City Council to offer a low cost lease of the subject property in an effort to provide additional parking for downtown McKinney.
• The terms of the lease provide exclusive use of the property between 7:30 am and 1:00 pm every Sunday and other dates and times mutually agreed upon for church parking. The parking lot will be available to the general public for downtown parking all other times.
• The property currently contains 44 parking spaces that will become immediately available upon execution of the lease agreement.
• The City agrees to expand the parking lot on the property to provide additional parking for both the church and the public.
• Preliminary designs show an additional 48 parking spaces to be constructed on the property for a total of 92 parking spaces available for downtown parking.
FINANCIAL SUMMARY:
• The City will pay the church one dollar ($1.00) per year for the term of the lease agreement. The initial term of the lease will be for twenty years.
BOARD OR COMMISSION RECOMMENDATION: N/A