Recommend approval for a revocable license with HLC Olde Harbour Inn Properties, LLC in the amount of $6,500 per month ($78,000 annually) for use of a portion of Lower Factors Walk. The area, which will accommodate 25 parking spaces, is located on Lower Factors Walk near the East Broad Street Ramp. The license allows the Olde Harbour Inn to use the land for guest parking. The license does not convey a property right and can be terminated for any reason in the future with notice.

The Olde Harbour Inn will also be responsible for all maintenance and upkeep of the property. The Olde Harbour Inn has previously used private lots for their guests, but lost access to those spaces when the Georgia Power property was sold. Attempts to regulate the property with parking personnel have not been able to open up the spaces enough for their guests. Given the isolated nature of the property and its proximity to the Olde Harbour Inn, staff believes it is prudent to allow a revocable license to the site for the Inn's use. The license also makes available parking spaces on the strand and Bay Street for public use.

Approval