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Committee approves 20-year parking lease with Foundry on Third for 100 reserved stalls; vote 3–1
Summary
The committee approved a 20-year agreement reserving 100 stalls on the Sears East Ramp for Foundry on Third LLC with a 20% discount; the measure passed 3–1 amid debate over discounts and ramp condition.
The Infrastructure and Facilities Committee on May 8 voted to approve a 20-year parking lease reserving 100 stalls on the Sears East Ramp for Foundry on Third LLC, with a 20% discounted monthly rate for the tenant. The measure passed 3–1.
Randy, presenting the agreement, said the lease would begin Dec. 1 and provide a guaranteed revenue stream for the city. "For this long term commitment of the agreement, we provided a 20% discount within the agreement for the…
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