A RESOLUTION AUTHORIZING THE MANAGER TO EXTEND THE LEASE OF TOWN PARKING SPACES ON THE PRITCHARD PARK PROPERTY TO THE SIENA HOTEL (2007-02-26/R-4)

WHEREAS, on November 27, 2000, the Council authorized the Manager to lease parking spaces to the Siena Hotel; and

WHEREAS, the Council has reauthorized the lease of parking spaces to the Siena Hotel in subsequent years; and

WHEREAS, the property is not needed at this time for park or library operations; and

WHEREAS, provisions in the lease agreement would allow the Town to reclaim control of the property with 30 days notice;

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council authorizes the Manager execute an agreement for the lease of parking spaces on the Pritchard Park property to the Siena Hotel at the rate of $65 per parking space per month until February 10, 2008.

This the 26^th day of February 2007.