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Home My WebLink About63-05 RESOLUTION• RESOLUTION NO. 63-05 A RESOLUTION APPROVING A ONE-YEAR LEASE AGREEMENT WITH OFF-STREET PARKING DEVELOPMENT DISTRICT NO. 1 FOR THE CITY OF FAYETTEVILLE TO OPERATE CERTAIN OFF-STREET PARKING LOTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby approves a one-year Lease Agreement with Off -Street Parking Development District No. 1 for the City of Fayetteville to operate certain off- street parking lots. A copy of the Lease Agreement marked Exhibit "A" is attached hereto, and made a part hereof. PASSED and APPROVED this 5th day of April 2005. ATTEST: =U' E •FAYETIEVILLE .O,c S,G.ps • F 13 Si • c2•h VoleRlfAN;� N5 By:AtivtiXthevilb SONDRA SMITH, City Clerk APPROV By: DAN COODY, Mayo • LEASE AGREEMENT Aion This lease Agreement executed this 5411 day of 4tfretr, 2005, by and between OFF-STREET PARKING DEVELOPMENT DISTRICT NO. 1 of the City of Fayetteville, Arkansas (hereinafter referred to as "OSPDD"), and the CITY OF FAYETTEVILLE, Arkansas (hereinafter referred to as "the City"). In consideration of the mutual covenants contained herein, the parties hereby agree as follows: 1. OSPDD hereby leases to the City, and the City hereby leases from OSPDD, the real property described in Exhibit A, attached hereto and made a part hereof. 2. The term of this Lease shall be for a period of one (1) year commencing on the date of execution hereof. 3. The City hereby agrees that during the term of this Lease, or any extension thereof, the City shall operate the leased premises as revenue producing off-street parking lots; the City agrees to equip the leased premises with parking meters or parking gates; the City agrees to collect the revenues from the parking meters or parking gates located on the leased premises; and the City agrees to police the lease premises to insure that motorists parking thereon are paying required usage fees as are now, or as may hereafter, be established by the City. 4. The City agrees to pay over to OSPDD during the term of this Lease, or any extension thereof, the net operating revenues derived from the leased premises. The term "net operating revenues" shall mean gross revenues Tess all costs of equipping, maintaining, and operating the lease premises as off- street parking lots. Said revenues shall be paid to OSPDD quarterly. IN WITNESS WHEREOF, the parties have executed this Lease Agreement on the date first above written. ATTEST: By: OFF-STREET PARKING DEVELOPMENT DISTRICT NO. 1 OF THE CITY OF FAYETTEVILLE, ARKANSAS ssioner mmissier Commissioner CITY OFF ,_% TTEVILL ARKANSAS By DA , DY ayor SONDRA SMITH, City Clerk 01111111/1/90. $'`G E9•• ti, G\SYOF S.. -PS •11.1 'c :FAYETTEVILLE: 7%4! •�, :'.9q ANSP' J=I %•'• =U• CONTRACT REVIEW MEMO /45 y/6/05 OM- $.,ef��(��M"ns a Renewal of Lease Agreement with Off -Street Parking Development District No. I bl tv.L 1 op m42n11 April 5, 2005 Council Meeting Page 1of4 -0/ TO: Mayor Dan Coody /f� THRU: Gary Dumas, Director of OperatiobC ' FROM: Sharon Jenkins, Parking Manager 5� DATE: March 8, 2005 SUBJECT: Renewal of Lease Agreement with Off -Street Parking Development District No. 1 RECOMMENDATION Staff recommends renewing the Lease Agreement with the Off -Street Parking Development District No. 1. The term of this Agreement will only be for one (1) year at this time in anticipation of the completion of the overall Downtown Master Plan and any parking related issues that may be affected. BACKGROUND The City entered into the original Lease Agreement with the Off -Street Parking Development District No. 1 in March, 1990. The term of the lease ran for a period of ten years and was renewed in March 2000 for another five years The Agreement provides for the City to lease the 4 parking lots owned by the District and operate them as revenue producing off-street parking lots. The City equips the premises with parking meters and/or access control devices, collects parking revenues through parking programs and meter revenues, and provides parking enforcement for the leased premises. The City then pays to the District the net operating revenues derived from the leased premises ("net operating revenues" are the gross revenues less all costs of equipping, maintaining, and operating the leased premises by the City. BUDGET IMPACT The revenues collected and retained by the City for operating costs help to offset existing expenses already incurred by the City for the management of downtown parking. For the year 2004, a total of $17,371 was received from this source to offset employee salaries. Actual costs for equipment and supplies are offset directly from this source. /03.05 RESOLUTION NO. A RESOLUTION APPROVING A ONE-YEAR LEASE AGREEMENT WITH OFF-STREET PARKING DEVELOPMENT DISTRICT NO. 1 FOR THE CITY OF FAYETTEVILLE TO OPERATE CERTAIN OFF-STREET PARKING LOTS. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby approves a one-year Lease Agreement with Off -Street Parking Development District No. 1 for the City of Fayetteville to operate certain of street parking lots. A copy of the Lease Agreement marked Exhibit A "i attached hereto, and made a part hereof. PASSED and APPROVED this 5th day of April'20 APPROVE ATT By: SMIXI , City Clerk DY, Mayor Sharon Jenkins Submitted By City of Fayetteville Staff Review Form City Council Agenda Items or Contracts April 5, 2005 City Council Meeting Date Parking Management Division Operations Department Division Action Required: Department Approval of Lease Agreement with Off -Street Parking Development District No. 1 for the City of Fayetteville to operate certain leased premises as revenue producing off-street parking lots. This Agreement is a continuation of previous Agreements that have been ongoing since March, 1990. $0.00 Cost of this request Account Number Project Number Budgeted Item Category/Project Budget Funds Used to Date Remaining Balance Budget Adjustment Attached Program Category / Project Name Off -Street Parking Program / Project Category Name Off -Street Parking Fund Name Department D rector City Attorney kce F ance and Internal Service Director Mayor Previous Ordinance or Resolution # Date Original Contract Date: Original Contract Number: 37".s /2_ 07 Date 3/ Date Received in City Clerk's Office Comments: SCANNED