SUBJECT: Approval of a Parking Lease Agreement Between the Tioga Investors, LLC, and the City of Merced to Lease Up to 70 Parking Spaces in Parking Lot #4 and Parking Lot #5 for a Charge of $35.00 Per Parking Space with an Initial Term of Five (5) Years with Three (3) - Five (5) Year Options to Extend REPORT IN BRIEF Considers a lease agreement for up to 70 parking spaces in parking lot #4 and parking lot #5, for The Tioga apartment tenants at $35 for each parking space per month. RECOMMENDATION: City Council - Adopt a motion approving the parking lease agreement with the Tioga Investors, LLC and authorizing the City Manager or the Assistant City Manager to execute the necessary documents.

What this record is

Held by

Tioga Investors, LLC

Runs until

no end date published in this record

Type

contract

Field

Real estate

Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

December 22, 2019

On agenda

January 6, 2020

Passed

January 6, 2020