Approve First Amendment to Amended and Restated Parking Use and Maintenance Agreement - Ramp A

In April of 2012, the City, The HRA, and the EDA approved the Amended and Restated Parking Use and Maintenance Agreement (PUMA).

This amended agreement was updated to address, among other things, the concept of the dedication of spaces to The Residence at The COR, and the related signage and use issues surrounding the ongoing operation of the ramp now that it will be completely allocated.

The agreement was recorded in May of 2012, and included a provision for the preparation and execution of an amendment to the agreement to add the legal description for the "Exclusive Easement Area" as outlined conceptually in Exhibit D-2 of the recorded agreement.  This was to be prepared following the completion of construction of the ramp and related vestibules.

That survey has been completed and the easement areas identified based on the constructed condition. 

As-Built Parking Summary:
Ground Floor - 165 stalls + 8 Accessible stalls = 173 Total Stalls
2nd Floor - 216 stalls + 5 Accessible stalls = 221 Stalls
3rd Floor - 214 Stalls + 5 Accessible Stalls = 219 Stalls
4th Floor - 178 Stalls + 2 Accessible Stalls = 180 Stalls
TOTAL STALLS -  793

After a final Assessment of the constructed parking configuration, the following reflects the current parking allocation for Ramp A:

Stalls DEDICATED to Lot 3, Block 1, COR ONE - 275
Stalls ALLOCATED to Lot 3, Block 1, COR ONE -   25
Stalls ALLOCATED to Transit (per funding requirements )  -  350
Stalls ALLOCATED to Municipal Center  -  75
UNALLOCATED Stalls (future use) - 68
TOTAL STALLS - 793




Notes:
Municipal Center requires 136 stalls by code, but provides 64 on-site stalls, and therefore needs 72 stalls in Ramp A to meet current parking requirements. Previous Allocation to the Municipal Center was 108 stalls.  HRA/Council should consider this reduction as a policy question on how stalls are allocated, or reserved for future uses.

The development team recommends the HRA approve the First Amendment to the Amended and Restated Parking Use and Maintenance Agreement for Ramp A, subject to final modification and approval by HRA legal counsel, and direct the agreement to be executed and recorded.

Also included in this case is the Work Order for the as-built survey and preparation of the Exclusive Easement documents, in the amount of $3,400..

Professional Services Budget

Approve the First Amendment to the Amended and Restated Parking Use and Maintenance Agreement for Ramp A, subject to final modification and approval by HRA legal counsel, and authorize and direct the agreement to be executed by the HRA Chair, HRA Executive Director, and recorded.

Approve the work order for the preparation of the Exclusive Easement document in the amount not to exceed $3,400