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Updated: 7:44 PM Jan 26, 2012
First on 12: New TEE Center parking deck terms, concern over 'loose ends'
News 12 has obtained the re-negotiated terms for the TEE Center parking deck and Conference Center Deck.
Posted: 3:30 PM Jan 26, 2012Reporter: Chris Thomas Email Address: chris.thomas@wrdw.com |
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Thursday, January 26, 2012
AUGUSTA,Ga---News 12 has obtained the re-negotiated terms for the TEE Center parking deck and Conference Center Deck.
The new terms maintain the original 15-year agreement with the suggested $25,000 management fee. The new terms also still call for leasing the city-owned deck currently attached to the Conference Center.
There is one notable addition. Net profits (after paying rent, $25,000 to operator, additional rent) will be divided 50/50.
City Administrator Fred Russell told News 12 there are some "loose ends."
He says there is a lien against a portion of the TEE Center property.
Russell says lawyers have been in discussion with the banks and expect the issue to "go away" when or if a deal is reached.
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