Item 4N AudioMayor, Members of the Council –
With Agenda item 4N we are seeking your approval of a parking license between
the City of Southlake and Tarrant County.
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In August 2003, the City of Southlake, Tarrant County and the developer entered
into a license agreement providing for the construction, maintenance and use of
parking in the Town Square development. In this agreement, the city and county
agreed to pay an amount “up front” for the construction of parking spaces and an
annual license fee thereafter through the term of the agreement. Tarrant County
was provided the right to 25% of the spaces and paid 25% of the costs. This
agreement provided for 221 non-exclusive parking spaces, and had a term of
January 1, 2003 through December 31, 2012.
In 2005, the City of Southlake entered into an operating agreement with the
developer, to commence on the date the parking garages are conveyed to the city.
In this agreement, the developer agreed to include a number of parking restrictions
in his tenant leases. He also agreed to pay an annual fee for the ongoing use and
maintenance of the garages, among other things. Tarrant County is not a party to
this agreement.
Since the conveyance of the parking garages is imminent, it has become necessary
to dissolve the old license agreement. This requires Tarrant County action. To
address Tarrant County’s concerns about Town Square parking, the city has offered
a license agreement to Tarrant County. The county has approved this agreement,
which must now be approved by the City of Southlake. This agreement will
memorialize the our agreement relative to the county’s use of, and payment of costs
associated with the parking improvements.
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The primary terms of the new agreement are shown on this slide. This agreement
continues the provisions of the original license for Tarrant County and recognizes
the city’s partnership with them as a partial owner of Town Hall.
This agreement memorializes our agreement relative to the county’s use of, and
payment of costs associated with the parking improvements.
Note that Tarrant County has approved the agreement, which now awaits City
Council approval. The agreement was drafted by the City Attorney’s office, and is
recommended for approval by the staff.
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Thank you for your time and attention to this agenda item. Please contact Sharen
Jackson if you have questions on this item.
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