CC MEETING: September 24, 2024
DATE: September 18, 2024
TO: Erin Rinehart, City Manager
FROM: Josh Giles, Development Program Manager
Ravi Shah, Executive Director of Development
Shannon Hicks, Assistant City Manager
Title
Consider A Resolution Authorizing The City Manager To Extend An Easement Agreement For An Additional Twenty-Year Term And Provide Consideration In An Amount Not To Exceed $21,398.00, By And Between The City And The Silos Carrollton LLC, Located At 1003 4th Street.
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BACKGROUND:
The City maintains an easement agreement for the exterior maintenance of the downtown grain silos, located at 1003 4th Street for the purpose of mural artwork. The agreement was executed on October 30, 2006, carries an initial twenty (20) year term, and is set to expire in 2026. However, the easement agreement also includes two (2) twenty (20) year optional extensions, which requires a fee of 10% of the current DCAD value at the time of lease extension.
As one of the defining architectural structures of our historic downtown, and highest structure, the unique fa?ade and windowless design provides an exceptional opportunity to display a mural. From time to time, as the Sun and weather patterns take their toll on the existing artwork, it becomes necessary to restore a new blank canvas and create new artwork. Articulation Art has composed a downtown mural master plan, which prioritizes the downtown silos first to paint a new mural within the next twelve months.
In order to provide the protections that are in place with the easement agreement for the artwork, it is necessary to exercise the first twenty (20) year extension.
FINANCIAL IMPLICATIONS:
The cost of the easement agreement extension will not exceed $21,398.00. The current DCAD value for the downtown silos for 2024 is $213,980.00.
IMPACT ON COMMUNITY SUSTAINABILITY:
The easement agreement extension will provide necessary protections for a new mural that will have a profound impact on the hi...
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