View Agenda Item

4.6.

CC Regular Session

Meeting Date:: 11/28/2017
By:: Diana Lund, Finance

Information

Title

Adopt Resolution #17-11-281 Adopting the 2018 Parking Ramp Maintenance Budget & Adopt Resolution #17-11-282 Allocating the Parking Ramp Maintenance Costs per the Adopted 2018 Budget

Purpose/Background:

Purpose: Allocate costs of the municipal parking ramp to the respective users: City, Residence at the COR Apartments and Transit per the Parking Use and Maintenance Agreement (PUMA).
Background:
The city adopted an amended and restated Parking Improvement Use and Maintenance Agreement (PUMA) for Parking District A (City Municipal Ramp) on April 30, 2012 and First Amendment on January 8, 2013. This agreement obligates the owner of each parcel in Parking District A to pay the City for costs the city has or will incur to maintain, repair and replace the District A parking improvements based on an allocated costs assigned to each parcel. This agreement was transferred from Flaherty and Collins to Residence at the COR Apartments, LLC with the sale of the property on April 9, 2015. Per the agreement, the city is required to prepare a budget for formal adoption at least 30 days prior to fiscal year end or by November 30 outlining the anticipated parking maintenance costs for the next fiscal year and adopt a resolution allocating the budgeted parking maintenance costs among the parcels per the parcels "allocated share". The 2018 budget includes funding for camera replacements and camera additions in the ramp due to the age of the current cameras (12+ years) and for additional safety in the ramp. These costs will be offset by the 10% contingency that has been calculated over the previous 3 years. Also, due to the age and demand on the ramp, staff is proposing a structural study of the ramp by the company that previously designed the ramp (SRF). This study will be used to determine upcoming structural repair needs so that they can be budgeted for appropriately in future years. The city's 2018 Parking Ramp Maintenance Budget is attached that also includes the calculation of each parcels allocated share.

Observations/Alternatives:

Per Sections 7-9 of the PUMA, the city is required to establish an annual parking maintenance budget and allocate the respective shares to those parcels receiving benefit.

Funding Source:

The parking ramp is funded by the budget of General Government Buildings under the General Fund and the allocated share charged to Residence at the COR Apartments, LLC for their usage of 275 stalls in the parking ramp.

Recommendation:

Approve attached Resolution #17-11-281 Adopting the 2018 Parking Ramp Maintenance Budget

And

Approve attached Resolution #17-11-282 Allocating the Parking Ramp Maintenance Costs per the adopted 2018 budget based on each parcels allocated share as outlined.

Action:

Motion to adopt Resolution #7-11-281 Adopting the 2018 Parking Ramp Maintenance Budget

and

Motion to adopt Resolution #17-11-282 authorizing the allocation of the budgeted parking maintenance costs among the parcels

Attachments

Form Review

Inbox	Reviewed By	Date
Kurt Ulrich	Kurt Ulrich	11/22/2017 02:29 PM

Form Started By:: Diana Lund
Started On:: 11/02/2017 11:22 AM
Final Approval Date:: 11/22/2017