| ITEM #: 11. DATE: 11/17/2025 AI #:2943 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | APPROVE LETTER OF INTENT FOR GSQ PUBLIC PARKING GARAGE |
| STAFF PRESENTER(S): | Roric Massey, City Attorney |
SUMMARY
Approval of the Letter of Intent (LOI) with RG Land Partners, LLC will facilitate the acquisition and construction of the GSQ public parking garage.
STRATEGIC PLAN ALIGNMENT
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RECOMMENDATION
Approve the Letter of Intent with RG Land Partners, LLC. for the GSQ public parking garage to facilitate the acquisition and construction of the GSQ public parking garage. (Roric Massey, City Attorney)
FISCAL IMPACT
Preliminary estimates are that the parking garage will cost approximately $15,000,000 plus the additional costs associated with the Public Safety facility and the surrounding public spaces. Those costs are to be determined during the design phase of the project but anticipated to fall within the targeted overall budget of $25,000,000. The total project costs are anticipated to be included in the Fiscal Year 2026-27 budget.
BACKGROUND AND PREVIOUS ACTIONS
This public parking garage will be located near Goodyear Way and Bullard Avenue , included as Exhibit B, and will provide district parking to support the new 150-acre mixed-use development at GSQ and the Goodyear Civic Square area. The GSQ development is the culmination of a long-term partnership between the city and RG Land Partners to bring a high-quality mixed-use development to the city’s new downtown area. This city-owned district parking garage will provide support for the variety of retail, entertainment, dining and public spaces and events located in and adjacent to the GSQ development.
STAFF ANALYSIS
The proposed LOI, included as Exhibit A, with RG Land Partners, LLC, will facilitate the design and construction of a city-owned and operated 600-space district parking solution incorporated into the GSQ project. The parking garage will provide public parking for the various retail and commercial developments throughout the new downtown area and will also provide additional public parking options to support the various city events held in the area. In addition to the parking garage, the LOI contemplates the incorporation of 1,500 sq./ft. Public Safety Substation on the site and adjacent public spaces to include walkways and a public plaza to the east of the garage that will provide additional open spaces and public gathering spaces.
The LOI contemplates that the city and RG Land Partners will enter a development agreement to formalize the agreement between the parties with the following general deal terms:
The LOI contemplates that the city and RG Land Partners will enter a development agreement to formalize the agreement between the parties with the following general deal terms:
- RG Land Partners to donate at no cost to the city sufficient land to construct the parking garage, Public Safety facility, and adjacent public spaces.
- City to fund the construction of the 600-space public parking garage and will own and operate the facility.
- RG Land Partners to design and construct the parking garage following public procurement and construction procedures.
- The city and RG Land Partners will equally share the annual operations and maintenance costs for the parking garage.