SUBJECT
title
Final reading authorizing the City Manager to execute a lease agreement with Bethany House of Laredo only for the ungated parking lot located on 501 San Agustin Ave., also known as Lincoln Parking Lot. Lot 5 Block 42, Western Division in the City of Laredo, Webb County, Texas. The new lease terms will be of twenty (20) years with an annual rate set and agreed by both parties at two-thousand five-hundred dollars ($2,500.00) per year. Revenue will be deposited in the Parking Meters Fund.
body
PREVIOUS COUNCIL ACTION
On March 18, 2024 Introductory Ordinance was introduced to Council meeting.
BACKGROUND
Bethany House is expanding their emergency shelter as a result will need additional parking area for staff and service providers. The new lease agreement is offering a twenty (20) years term at a rate of $2,500.00 per year. The City of Laredo shall have the right to terminate this lease at any time hereof by giving sixty (60) days written notice to Bethany House.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends the final reading for this Ordinance.
end
Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: N
Source of Funds: Parking Meters Fund
Account #: 251-000-353-2011
Change Order: Exceeds 25% Y/N: N
FINANCIAL IMPACT:
Revenue collection of $50,000.00 will be recorded in revenue account 251-0000-353-2011.