Reso 2008-1246 - Laserfiche WebLink

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a. Years 1 - 5 at $65 per space per month at 400 spaces $312,000 per year. b. Years 6 - 10 at $80 per space per month at 400 spaces $384,000 per year. c. Years 11 - 15 at $95 per space per month at 400 spaces $456,000 per year. d. Years 16 - 20 at $110 per space per month at 400 spaces = $528,000 per year. e. Years 21 - 25 at $125 per space per month at 400 spaces = $600,000 per year. f. Years 26 - 30 at $140 per space per month at 400 spaces = $672,000 per year. g. Years 31 - 35 at $155 per space per month at 400 spaces = $744,000 per year. h. Years 36 - 40 at $170 per space per month at 400 spaces = $816,000 per year. The tiered payment schedule will yield $22,560,000 to the City over a 40-year timeframe. This amount does not include interest income nor the $135,000 per year maintenance charge that we will be receiving until the structure is built. 3. Contract renewal discussions will take place with the Association on the 41 sl Anniversary from the date of garage opening. 4. Park site issues: a. Heritage Park will always be used and maintained as a park. b. The City has provided the Association an opportunity to recommend input relative to the parking structure and park design. And we have two options. Option I. (The Preferred Option). Includes 400 spaces underground for the Association, and 100 spaces above ground for the public. The below ground structure will have a maximum of 50% tandem parking. Option II. The ability for the City to have a six storey above ground parking structure at the south side of the park. Please know that the only reason we would want to construct a multi-storey parking structure is to be eligible for a possible Florida Community Trust (FCT) Grant. I have been advised that the City would not be eligible for any park improvement funds if a parking structure is underneath the park. This said, I'm having an independent consultant review our chances of obtaining an FCT Grant for park improvements if we were to build a six storey parking structure. Ifwe all agree that our chances are not very good, then I believe we should proceed to the design development stage with the underground parking option, option I. c. Subject to the approval of FDOT, the City will provide a pedestrian at grade crossing at Collins A venue in the general area opposite to the Ramada Inn. In addition, we will construct a pedestrian access to the parking structure through Heritage Park, as a relative straight line extension from the pedestrian crossing to the entrance to the parking structure. (<11111111"1<111 I ",t\lllclldlll,'11It<l I'arklll" \"rCClllcI1I \\,'11I1IIa \" ','r Parking atlklllag,'I'alk