Posted: January 10, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF011525-08

Agenda Item Title:

Approve Assignment and Assumption of Parking Lot Development Agreement for City Property Located Adjacent to 2834 Jackson Boulevard

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/15/2025
City Council Hearing Date:
02/02/2025
Petitioner:
Parks & Recreation
Staff Contact:
Lindsey Myers
Location:
Council Chambers
Agenda Item Summary:
The first attachment is the original parking lot development agreement for the parking lot near the Jackson Park disc golf course. It was signed in September of 2005 and contains a provision allowing McCarthy Properties, LLC to assign its interest in the agreement, subject to City approval. The second attachment is the assignment agreement wherein McCarthy Properties, LLC is assigning its interest to Jackson Park, LLC. Staff is recommending that Council approve the assignment agreement.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

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