TITLE: Title
Consider Option to Lease Parking at 300 East Main Street Parking Deck
PURPOSE: The purpose of this agenda item is for the Board of Aldermen to consider entering into a lease option with Main Street Partners to lease parking in the parking deck at 300 East Main
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DEPARTMENT: Economic and Community Development
CONTACT INFORMATION: Annette Stone, AICP Economic and Community Development Director (919) 918 7319; Patricia McGuire, AICP, pmcguire@townofcarrboro.org, 919-918-7327
INFORMATION: The Town of Carrboro originally entered into a lease agreement for parking with 300 East Main as an economic development opportunity to expedite construction of the new Hampton Inn and Suites. Attached are the minutes from the March 15, 2011 Board of Aldermen meeting (Attachment 1) where the Board discussed the benefits of moving construction of the hotel forward. According the attached minutes Mayor Chilton stated "it is critical to understand that this project simply cannot happen without the parking deck being built and the Town's participation. This project will not place a heavy burden on municipal resources but will be a huge net benefit to the Town both in the short and long term. It will increase the walkability and bikability of the downtown area. He stated that the investment will also create new jobs for Carrboro. The parking deck will also increase the availability of downtown parking during the short-term." The resolution to authorize the manager to execute a parking lease agreement passed unanimously among Board members present.
The Board at their March 8, 2016 meeting discussed the desire to consider an option to extend the lease agreement as a portion of the discussion relating to the construction of a second hotel, Hilton Garden Inn, and a modification to 300 East Main CUP. The Board made the following motion; Motion was made by Aldermen Johnson, seconded by Alderman Haven O'Donnell to allow staff to proceed with efforts to amen...
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