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Regular City Council Meeting
7.5.
10/26/2021:
Information
Agenda Item
Resolution - Right-of-Way:
Consider a resolution authorizing the Mayor to execute a Parking Lease Agreement between the City of Lubbock and Cast Iron Grill, for the use of a City-owned parking lot at 1801 Crickets Avenue.
Item Summary
The lease agreement renewal between the City of Lubbock and the Cast Iron Grill, located at 620 19th Street, is for the use of 72 parking spaces on City-owned Property at 1801 Crickets Avenue. Cast Iron Grill requested the lease to provide employees and customers additional parking between the hours of 6:00 a.m. and 2:00 p.m., Monday through Friday. The term of the lease is 2 years.
The City will receive $480 per month calculated as follows: $20 per space (the current market rental rate for downtown parking) x 72 spaces x 1/3 day (8 hours) = $480 a month.
Fiscal Impact
$480 monthly revenue to the General Fund
Staff/Board Recommending
Jesica McEachern, Assistant City Manager
Attachments
Resolution - Parking Lot Lease Agreement - Cast Iron Grill
Parking Lot Lease Agreement - Cast Iron Grill
Exhibit A -Parking Lot Lease Agreement - Cast Iron Grill
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