NORTH CAROLINA
EXECUTIVE SUMMARY
Meeting Date: 11/9/2009
AGENDA #7a
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TOWN OF CHAPEL HILL NORTH CAROLINA EXECUTIVE SUMMARY |
Meeting Date: 11/9/2009 |
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| Title of Agenda Item:
Proposed Lease of Wallace Parking Plaza for Kidzu Children's Museum. (R-5) Goal 2: Champion Downtown |
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| Background:
The attached staff memorandum provides information on the proposal to approve a 99 year lease of a portion of the top level of the Wallace Parking Plaza at Rosemary and Henderson Streets for construction of a children's museum and outdoor museum display area. |
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| Fiscal Note:
Under the terms of the proposed lease, the Town would have certain financial obligations to maintain the Wallace Parking Plaza during the term of the lease. Opportunities for redevelopment of the site are provided, conditioned on certain assurances regarding the investment made by the Lessee, Kidzu Children's Museum. |
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| Recommendations: If the Town Council finds that this proposed lease to establish a children’s museum on the Wallace Parking Plaza roof benefits the revitalization of the downtown area, the recommendation is to approve this lease. | |||
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| ATTACHMENTS: Viewing attachments may require Adobe Acrobat. |
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| Staff Memorandum | |||
| Resolution | |||
| Final Draft Lease Agreement | |||