WENDELL — Town officials hope to wrap up negotiations with a local property owner next week to establish a park and ride lot as part of the new bus service that will serve eastern Wake County.

Commissioners will be asked at their July 13 meeting to approve a lease on property owned by Paul and Allen White on Fourth Street near Oakwood Street.

Town Manager David Bone said the lot, which is currently being used as a staging area by city of Raleigh contractors, would hold about 40-45 cars.

“We’re working out some of the finer details. It’s been moving in a positive direction,” Bone said of the negotiations.

One of the details still to be worked out is how much the town would pay to lease the lot. Bone said he hopes the lease will be for three years, which is the initial length of time Triangle Transit plans to offer the service.

The city of Raleigh pays $300 per month for a short-term lease on the lot.

Triangle Transit must also approve the site as a park and ride lot.

Bone said the money for the lease would be part of the $20,000 the town set aside in its budget to help establish the bus service.

“That can be cash or in-kind contributions,” Bone said. Leasing the lot and making some landscaping improvements to the property would be considered in-kind contributions.

In addition to the lease on the park and ride lot, commissioners will also be asked to approve an agreement between all the government agencies and municipalities that will participate in the project.

Bone said he hopes to get all the details worked out at the meeting next Monday to allow the service to begin in September. Park and ride lots are also being established in Knightdale. In Zebulon, the park and ride lot will be at Five County Stadium.