Crossville is drafting a lease agreement with the owners of the Cravens Building to bring more parking to the downtown area.
City Attorney William Ridley said the lessor has agreed to a five year deal costing the city $1 per year.
“It’s owned by a partnership, so they’ve got to all get together and agree with the attorney and get back with me,” Ridley said. “I haven’t heard from them yet, so I hope to have the final draft next week.”
Ridley said the city will be in charge of maintaining the parking lot. Ridley said the owner will continue tax payments on the land while the city covers the insurance.
“I think it’s a really good deal for the city,” Ridley said.
City Manager Greg Wood said the city will complete about $7,000 of repairs before opening. Ridley said the city would have full control of the parking area.
The parking lot is located at the corner of Thurman Avenue, East First Street and East Stanley Street. Mayor James Mayberry said the lease agreement would be considered at Tuesday’s Board of Aldermen meeting.
