Title
The Palms Parking Agreement (B)
This item recommends the City Commission approve a License Agreement to allow The Palms the use of 96 parking spaces in the Southwest Downtown Parking Garage.
Explanation
The Palms is requesting the use of 96 parking spaces in the Southwest Downtown Parking Garage (Garage) for the 10-story building with 48 two bedroom/two bath condominium units to be constructed on the property immediately south and adjacent to the Garage by the developer, Southwest Second Avenue, LLC.
Staff has reviewed the allocation of parking spaces in the Garage. Based on parking agreements with Alachua County, Ken and Linda McGurn (KLM), and Gainesville Greens (G Greens), and the request from The Palms, the allocation of the 842 parking spaces in the garage will be as follows:
Public = 375
KLM = 138
G Greens = 233
The Palms = 96
Total = 842
The 375 public parking spaces will meet the demand for public parking.
. Fiscal Note
The revenue amount will be paid annually based on the prevailing rate in January of each year for the 96 parking spaces in the Garage. The payments will commence January 2009.
Recommendation
Recommended Motion: The City Commission authorize the City Manager to execute the LICENSE AGREEMENT FOR USE OF PARKING GARAGE between The Palms and the City of Gainesville, subject to approval by the City Attorney as to form and legality.
Alternative Recommendation: The City Commission not approve the LICENSE AGREEMENT FOR USE OF PARKING GARAGE and forfeits the option to generate steady revenue for guaranteed usage of the 96 parking spaces.