Title
Vote on a request to approve a 50 year Lease between the County and Chatham Transit Network and authorize the county manager to sign the Lease.
Abstract
Action Requested: Vote on a request to approve a 50 year Lease between the County and Chatham Transit Network and authorize the county manager to sign the Lease.
Introduction & Background:
WHEREAS, Tenant has requested that Landlord lease to Tenant certain real property (hereinafter described) located at 127 Martin Luther King Blvd., Pittsboro, North Carolina (formerly known as the old school garage) so that Tenant may use the same as a transportation vehicle storage facility and office space related thereto; and
WHEREAS, Landlord has authority to appropriate funds and lease property to any person, firm, or corporation to carry out any public purpose Landlord itself is authorized to engage in; and
WHEREAS, Landlord is authorized to own, operate, and contract for the operation of public transportation systems to furnish services to Chatham County and its citizens and residents; and
WHEREAS, Tenant operates as a public transportation system that provides transportation service to low and moderate income residents of Chatham County and Landlord desires to support Tenant in the delivery of those services; and
WHEREAS, the Chatham County Board of Commissioners has determined that the service to be provided by Tenants to the residents of Chatham County is sufficient consideration for the lease of the said real property; and
WHEREAS, Landlord has agreed to lease the said real property to Tenant to be used by Tenant solely as Transportation Vehicle Storage Facility and Office Space related thereto for the benefit of citizens and residents of Chatham County; and
WHEREAS, Tenant has agreed to lease said space for the use of a Transportation Vehicle Storage Facility and Office Space;
Discussion & Analysis:
Budgetary Impact:
Recommendation:
Approve 50 year Lease be...
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