HomeMy WebLinkAbout63-06 RESOLUTIONRESOLUTION NO. 63-06
A RESOLUTION APPROVING RENEWAL OF THE 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 renewal of the 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. „RKTREq''.,,
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PASSED and APPROVED this 4th day of April, 2006.
APPROVED:
By:
ATTEST:
By:
SONDRA SMITH City Clerk
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LEASE AGREEMENT
This lease Agreement executed this 1-1441 day of April, 2006, 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, with an automatic annual
renewal for up to two (2) additional years, 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 less 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
By:
AAl
Lamar Pettus, Chairman of the Board of Improvement
CITY OF YETTEVI.LLE, ARKANSAS
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COOD ayor
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SONDRA MITH, City Clerk -i4
Sharon Jenkins
Submitted By
City of Fayetteville
Staff Review Form
City Council Agenda Items
or
Contracts
April 4, 2006
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 0
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
Debltment Ditec
City Attorney
Asa .4.04:_ts
3 -2(-o4
Date
340/oc
Fina ce and Internal Service Director Date
Mayor
D- 2-A
Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in Cle?iSs Office
Comments:
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Renewal of Lease Agreement with Off -Street Parking Development District No. 1
April 4, 2006 Council Meeting
Page 1 of 4
CONTRACT REVIEW MEMO
TO: Mayor Dan Coody
THRU: Gary Dumas, Director of Operations
FROM: Sharon Jenkins, Parking Manager/
DATE: March 16, 2006
SUBJECT: Renewal of Lease Agreement with Off -Street Parking Development
District No. 1
RECOMMENDATION
Staffrecommends renewing the Lease Agreement with the Off -Street Parking
Development District No. 1. The term of this Agreement will be for one (1) year with an
automatic annual renewal for up to two (2) additional years.
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 In April 2005, the
Agreement was renewed again for one year.
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 2005, a total of $13,339 was received from this source to offset employee salaries. .
Actual costs for equipment and supplies are offset directly from this source
RESOLUTION NO.
A RESOLUTION APPROVING RENEWAL OF THE 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 renewal of the Lease Agreement with Off -Street Parking
Development District No. 1 for the City of Fayetteville to operate certain ff-
street parking lots. A copy of the Lease Agreement marked Exhibit "A
attached hereto, and made a part hereof.
PASSED and APPROVED this 4th day of Ap
sis
AI'tCbbDY, Mayor
ATTEST-
SONDRA'SMt.H, City Clerk
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From:
To:
Date:
Subject:
Clarice Pearman
Jenkins, Sharon
4.7.06 3:48PM
Res. 63-06
Sharon,
Attached is a copy of the above resolution passed by City Council, April 4, 2006. Also attached is a copy of
the lease agreement.
Thanks.
Clarice
CC:
Bell, Peggy; Deaton, Vicki
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