Title
A resolution authorizing entering into a Ground Lease Agreement for property adjacent to Heritage Park
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
Mr. George Calvin Wallace is interested in renewing a one year ground lease agreement with the City of Foley for their property located adjacent to Heritage Park. This has been an annual agreement since 2006.
SOURCE OF FUNDING:
Please provide the amount requested: ____________
Is this a budgeted item? Yes
Please provide the budgeted amount: $1.00_____________ Account No. ___________________________
If budgeted, is this a capital purchase, capital project, or special fund? _________________________
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, the City of Foley has a need from time to time for overflow parking during special events held at Heritage Park, and
WHEREAS, George Calvin Wallace and Evelyn L. Wallace have property located east of Heritage Park and are willing to enter into a one-year ground lease.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, authorizes a one-year term ground lease agreement in an amount of $1.00 annually between the Wallace Living Trust for Tax Map Parcel No. 05-54-08-28-2-000-036.000 and 05-54-08-28-2-000-036.001, Lots 1, 2 and 3 of Block 3 Magnolia Springs Land Company Addition. The City of Foley agrees to the maintenance and upkeep of the land to include mowing grass and noxious weeds in areas that are needed.