City of Franklin - File #: 17-0958

• File #: 17-0958
• Version: 2
• Name: 4th Avenue Church of Christ Lease Agreement Termination
• Type: Resolution
• Status: Passed
• File created: 10/30/2017
• In control: Board of Mayor & Aldermen
• On agenda: 12/12/2017
• Final action: 12/12/2017
• Title: Consideration of Resolution 2017-79, a Resolution Authorizing the City Administrator to Terminate the Off-Street Parking Lease Agreement with the 4th Avenue Church of Christ for the two parking areas located adjacent to their 117-4th Avenue N, Franklin, TN property. (11/28/17 WS)
• Sponsors: Eric Stuckey, Vernon Gerth, Kristine Brock

Date	Ver.	Action By	Action	Result
12/12/2017	2	Board of Mayor & Aldermen	approved	Pass
11/28/2017	2	Work Session	referred as a Consent Item

DATE:                                                               November 20, 2017

TO:                                          Board of Mayor and Aldermen

FROM:                                          Eric Stuckey, City Administrator

                                          Vernon Gerth, Assistant City Administrator - Community/Economic Development

SUBJECT:

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Consideration of Resolution 2017-79, a Resolution Authorizing the City Administrator to Terminate the Off-Street Parking Lease Agreement with the 4^th Avenue Church of Christ for the two parking areas located adjacent to their 117-4th Avenue N, Franklin, TN property. (11/28/17 WS)    

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Purpose

The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the termination of the off-street parking lease agreement between the City of Franklin and the 4^th Avenue Church of Christ and, to authorize the City Administrator to sign the enabling Resolution 2017-79 which documents the termination of this agreement.

Background

On November 11, 2008, the City of Franklin entered into an off-street parking lease agreement with the 4^th Avenue Church of Christ for the two parking lots located adjacent to their 117 - 4^th Avenue North property.      

The term of the agreement was ten (10) years, unless the 4^th Avenue Church of Christ exercised their right to terminate the agreement as stipulated in Article 7 of the Agreement.  In accordance with the agreement, the 4^th Avenue Church of Christ through their Executive Minister, Gray Shrader, informed the City of their intention to terminate the Agreement and stated that they would be installing a self-pay kiosk which would allow the church to charge for parking.  There has been increasing interest of other property owners in our historic downtown to install self-pay kiosks and begin collecting revenue from visitors parking on private property.   

On October 30, 2017, Gary Shrader submitted a check in the amount of $7,607 satisfying the termination clause of the agreement.  The $7,607 was the specified pro-rated share of the expense the City incurred for improving the 4^th Avenue Church of Christ two off-street parking lots with asphalt paving and striping. 

Financial Impact

In accordance with the lease agreement, the 4^th Avenue Church of Christ has reimbursed the City $7,607 which represents his pro-rated share for the cost of the improvements (asphalt paving and striping) the City incurred shortly after the lease agreement was executed in the fall of 2008.

Recommendation

Staff recommends approval of Resolution 2017-79.