Title:
Lease to Town of Davidson - Abersham Park
Summary
ACTION:
Authorize the County Manager to negotiate and execute a lease agreement between the County ("Landlord") and the Town of Davidson ("Tenant") for County-owned
Tax Parcel 003-041-03 (+/- 239.93 acres) known as Abersham Park which is located within the extra-territorial jurisdiction of the Town of Davidson
Staff Contact: Jacqueline McNeil, Asset and Facility Management
Presentation: No
BACKGROUND/JUSTIFICATION:
On November 21, 2006 the County entered into an Amended and Restated Lease Agreement for Allison Farm Property with the Town of Davidson in which the Town leased parcel 003-051-06 (+/- 34.34 acres) for public park purposes from the County. The Allison Farm lease is in effect until 2105. At the conclusion of the initial lease term, the Allison lease shall continue for successive twelve (12) month periods unless terminated by either party with ninety (90) days written notice. The Allison lease also allows the County to terminate at any time upon thirty (30) days written notice to the Town.
In 2011, the County purchased +/- 239.93 acres of property adjacent to the Allison Farm property that is home to Abersham Regional Park. Earlier this year, the County completed a capital improvement project that included modifications and improvements to the existing parking and roadway network, new greenway trails, an outdoor shelter, and additional parking at the park. With the completion of this improvement project, the County and the Town of Davidson have agreed to enter into a lease agreement at Abersham Regional Park that mirrors the term length as the existing lease between the County and the Town for the Allison Farm Property. The major business terms of the lease between the County and Town for Abersham Regional Park includes:
Property - Abersham Regional Park (Tax Parcel 003-041-03, 239.93 acres)
Term - The lease term shall expire on February 1, 2105. After completion of the initial ...
Click here for full text