R2010-229 AUTHORIZING AGREEMENT 101 MAIN PLACE, LLC

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, � � � � DEVELOPMENT SERVICES MEMORANDUM No. 10-111 December 1, 2010 TO: Honorable Mayor Michael T. McElroy and City Council FROM: Ryan P. McCrady, City Manager Greg C. Crowe, Assistant City Manager SUBJECT: Parking Lease Agreement with 101 Main Place, LLC SUMMARY RECOMMENDATION: Staff recommends approval of the resolution authorizing the Mayor to sign the attached Parking Lease Agreement with 101 Main Place, LLC for twelve parking spaces in front of One Main Place. BACKGROUND: One Main would like to lease the parking spaces on City property in front of One Main Place for consistency and control of all of the spaces in the parking lot in front of its building. Currently, ten metered spaces and one ADA space in the parking lot are on City property. The other spaces are on One Main's property, without parking meters and enforced by One Main. Exhibit A of the Agreement shows the location of the eleven spaces that are on City property. The lease agreement gives One Main exclusive use of the parking spaces from 9:00 a.m. to 4:30 p.m. Monday through Friday. The Agreement is for one year with up to four annual mutual renewal options. One Main is responsible for the annual maintenance; including snow removal, snow hauling, lot sweeping and renewal painting of pavement markings, of all of the spaces except for paving repairs and curbing which will remain the responsibility of the City. POTENTIAL OBJECTION: Staff is not aware of objections. INPUT FROM OTHER SOURCES: N/A STAFF REFERENCE: Any additional questions may be forwarded to Greg Crowe at 424-2727 or at crowe ,decaturil.gov. BUDGET/TIME IMPLICATIONS: The estimated annual revenue from one of the meters in front of One Main Place is $783.10 and the estimated annual maintenance costs for one space, not ' including annualized cost of pavement rehabilitation and reconstruction, is $762.24. Since One Main ', is responsible for the annual maintenance of the parking spaces, the agreement is not expected to negatively affect the Parking Fund.