2011-30034. Enhanced-Use Lease (EUL) of Department of Veterans Affairs (VA) Real Property for the Development of a Parking Structure, Professional Medical Office Structure, a Hotel and General Use Retail Space in Memphis, TN

AGENCY:

Department of Veterans Affairs.

ACTION:

Notice of intent to enter into an Enhanced-Use Lease (EUL).

SUMMARY:

The Secretary of VA intends to enter into an EUL on an approximately 4.0-acre parcel of land at the Memphis VA Medical Center in Memphis, Tennessee. As consideration for the lease, the lessee will be required to finance, design, develop, construct, manage, operate, and maintain a mixed-use parking development, whereby VA will receive negotiated lease consideration likely to include increased parking capacity. The development may also include a professional medical office building, a hotel, and general use retail space.

FOR FURTHER INFORMATION CONTACT:

Edward Bradley, Office of Asset Enterprise Management (044), Department of Veterans Affairs, 810 Vermont Avenue NW., Washington, DC 20420, [phone] (this is not a toll-free number).

SUPPLEMENTARY INFORMATION:

Title 38 U.S.C. 8161 et seq. states that the Secretary may enter into an enhanced-use lease if he determines that implementation of a business plan proposed by the Under Secretary for Health for applying the consideration under such a lease for the provision of medical care and services would result in a demonstrable improvement of services to eligible Veterans in the geographic service-delivery area within which the property is located. This project meets this requirement.

Approved: November 14, 2011.

Eric K. Shinseki,

Secretary of Veterans Affairs.