Board of Directors Regular Meeting Agenda
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Receive, consider and act upon a ground lease with the Brazos Transit District for the Sterling Ridge and Research Forest park and ride commuter parking lots and facilities;
Services will continue to be funded through grants and user fees.
There are four agreements contained within the Board's October 28 agenda packet which deal with the continued provision for Park and Ride service. Because the items are interrelated, they are combined into a single memo for the Board packet. (For the full details, see the agenda item regarding the new Transition Interlocal Agreement with Brazos Transit District).
This ground lease provides the terms and conditions for the lease with the BTD for the Research Forest and Sterling Ridge park and ride lots. Per the terms of the lease, the Township would lease these facilities for an initial period of 10 years, with an option for a 5 year renewal to continue to provide park and ride commuter service. Although the Township would be responsible for all operating costs of the facilities, these operating costs are expected to be funded by grants and user fees.
Authorize the President/General Manager to execute the attached Park and Ride Ground Lease with the Brazos Transit District for the Sterling Ridge and Research Forest park and ride commuter parking lots and facilities in substantially the form as attached.
Ground Lease for Sterling Ridge and Research Forest Park and Ride
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