Commissioners Court - Regular Session

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30.

Meeting Date:	08/05/2014
COG Lease MLK
Submitted By:	Hal Hawes, County Judge
Department:	County Judge
Agenda Category:	Regular Agenda Items

Information

Agenda Item

Discuss, consider and take appropriate action on an Interlocal Lease Agreement between Williamson County and the City of Georgetown whereby Williamson County leases to the City of Georgetown that certain real property owned by Williamson County located at Martin Luther King and 8th Streets in Georgetown, Texas.

Background

As consideration for the lease, the City of Georgetown will make improvements in the form of parking lot improvements for the use by the citizens of the city and the county. The Initial Term of the lease is 10 years; provided, however, the county may terminate the lease prior to the expiration of the Initial Term by paying the city a percentage of the city's improvement costs. If the lease is not terminated during the Initial Term of 10 years, the lease will automatically renew for one year terms until either party terminates the lease by giving notice at least 120 days prior to the expiration of the then current annual term. For 10 years after the expiration or termination of the lease agreement, the city will have a right of first refusal to purchase the property should the county wish to sale the property.

Fiscal Impact

From/To	Acct No.	Description	Amount

Attachments
ILA Lease Ag
City of Georgetown Interlocal Lease Agreement

Form Review

Inbox	Reviewed By	Date
County Judge Exec Asst.	Wendy Coco	07/30/2014 09:50 AM
Form Started By: Hal Hawes		Started On: 07/29/2014 03:28 PM
Final Approval Date: 07/30/2014