CLINTON — The city of Clinton has entered into an agreement with a Springfield, Missouri-based development company regarding parking arrangements for a proposed apartment complex.
The Vecino Group, operating in the area under the name “Libertad Clinton, LLC,” in the agreement states it has intentions to complete the “Libertad Clinton Apartments” in the future, estimating a completion date of October 2019.
A representative from the group said via telephone last week that a few more pieces of information regarding certain aspects of the project would need to fall into place before more in-depth details could be made known.
The agreement states that the group will lease 91 parking spaces “on or about City property or right-of-way adjacent to, or reasonably near, 480 S. Third St.” The parking will include 50 spaces on the parcel currently occupied by the existing YMCA (not in the street, the agreement acknowledges), with another 41 residing “in the existing City parking lot in the 300 block of Fourth Avenue South.”
The term of the lease agreement calls for a 35-year partnership, beginning on the date of the “substantial completion of Libertad Clinton Apartments...the lease shall renew for subsequent 10-year terms, unless written notice of cancellation is received by either party within 90 days of the expiration of the existing terms.”