The Lafayette City Council has an agenda item on this week's roster that includes leasing the former University of Louisiana at Lafayette Horse Farm.

The lease would be to a nonprofit foundation who would be responsible for planning, fundraising and maintenance of that property into a public park on Johnston Street.

If the council approves the measure, then City-Parish President Joey Durel would be given the authority to sign a cooperative endeavor agreement with Lafayette Central Park Inc., a nonprofit created by the Community Foundation of Acadiana for the purpose of turning the Horse Farm into a park.

The city advertised for bids for the project, and the Lafayette Central Park Inc. was the only group to submit a proposal for the project.

As part of the deal, Lafayette Central Park Inc. would be responsible for at least $6.8 million in improvements at property.