Title
Resolution to Approve Fuller Park Parking Lot Land Lease with the University of Michigan (8 Votes Required)
Memorandum
Attached for your review and action is a resolution to approve a land lease agreement with The University of Michigan to lease three parking lots at Fuller Park for parking purposes. The three lots are the existing parking lot south of Fuller Road adjacent to the railroad tracks (Lot A), the paved parking lot north of Fuller Road at Fuller Park (Lot B) and the unpaved parking lot also north of Fuller Road at Fuller Park (Lot C). The term of the lease agreement will be for two years, with the University having the option to renew the lease for two successive two-year periods. The lease agreement contains a provision for early termination of the lease for all or a portion of Lot A in the event a passenger rail station and/or local connector system are initiated.
The original agreement to lease Lot A to the University for parking was created in September 1993, which involved establishing the parking lot and determining its operation. The agreement contained an option for renewal and a new lease agreement has now been prepared. Included since the original agreement is the use of Lots B and C.
Exhibit A of the agreement contains provisions for maintenance, security and signage, and specifies the days and times of use. Lot A will be leased to the University from 6:00 am to 4:00 pm Monday through Friday. Lot B (paved lot) will be leased from 6:00 am to 5:00 pm Monday through Friday, beginning the day after Labor Day through the Friday before Memorial Day, excluding holidays. Lot C (unpaved lot) will be leased from 6:00 am to 5:00 pm Monday through Friday, excluding holidays. Payment information for the parking lease is contained in Exhibit B.
Staff
Prepared by: Laurie Foondle, Community Services
Reviewed by: Jayne Miller, Community Services Administrator
Approved by: Roger W. Fraser, City Administrator
Body
Whereas, On Septe...
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