Title
Resolution Approving a Five Year Lease Between the City of Ann Arbor and the University of Michigan For City-Owned Property Behind 926 Mary Street ($4000.00 annually) (8 Votes Required)
Memorandum
The City has leased the property behind the Mary Street Polling Place, 926 Mary Street, to the University of Michigan on a month-to-month basis since 1987. The University uses the property as a student parking lot for its tenants at Fletcher Hall. The current lease agreement is for $225.00 per month for approximately 12-15 parking spaces. The University is responsible for maintenance and improvements to the property. The lease has not been renewed or re-evaluated since approval of the month-to-month terms by City Council in 1987.
The City Clerkâs Office has approached the University about a new lease on an annual, rather than month-to-month basis. The new lease would include an increase in rent annually as the terms have not been adjusted since the initial approval. The City and University are in agreement that an annual lease is preferable to the current month-to-month arrangement, particularly since the University leases the spaces to its tenants on an annual basis. This lease agreement is in line with other parking lot leases the City has negotiated recently with the University.
Approval of this resolution is recommended.
Staff
Prepared by: Jacqueline Beaudry, City Clerk
Reviewed by: Mary Joan Fales, Senior Assistant City Attorney
Approved by: Steven D. Powers, City Administrator
Body
Whereas, The agreement between the City of Ann Arbor and the University of Michigan to lease 12 to 15 parking spaces on City-owned property behind 926 Mary Street, Lot 4, Block 4, J.F. Lawrence Subdivision has been a month-to-month agreement since 1987;
Whereas, The University utilizes these parking spaces for annual parking permits for its Fletcher Hall tenants;
Whereas, The rental rate of $225.00 per month and the month-to-month terms have not been re-negotiated s...
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