Title
Possible Action Regarding Heritage Baptist Church Parking Lot Lease
Requested Action
Consider Request to Fund Lease
Recommendation
Approve $17,500 per year for the lease per the attached estimate of costs
Description/History
At the March 3, 2016 MPFDC Special Board meeting, staff advised the Board that the MPFDC would be asked to fund $17,500 annually for a 10-year agreement to share the cost of leasing approximately 91 parking spaces from the Heritage Baptist Church. This parking lot will serve as an important trail head connection for the upcoming Pond Branch Linear Park system, as well as provide necessary parking to support new development in the downtown area.
The MEDC is also being asked to contribute $17,500 per year. The City Council will consider approving the parking lot agreement with Heritage Baptist Church after funding has been approved by both boards.
Justification
This parking lot will benefit downtown development, businesses, restaurants, retail, the Pond Branch Linear Park and community events.
Funding Source
MPFDC ½ Cent Sales Tax
Prepared By
Matt Young, Director of Parks and Recreation
Matt.Young@mansfieldtexas.gov
817-804-5798