HomeMy WebLinkAbout212-15 RESOLUTION113 West Mountain Street
Fayetteville, AR 72701
(479) 575-8323
Resolution: 212-15
File Number: 2015-0524
BALL PLAZA HOLDINGS, LLC:
A RESOLUTION TO APPROVE A TWO YEAR SUBLEASE AGREEMENT WITH BALL
PLAZA HOLDINGS, LLC FOR TEN PARKING SPACES LOCATED IN OFF-STREET
PARKING DEVELOPMENT DISTRICT LOT 7 FOR THE PURPOSE OF CONVERTING
THE SPACES FROM METERED PARKING TO FREE TWO HOUR PUBLIC PARKING AT
A MONTHLY COST OF $35.00 PER SPACE
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 two
year sublease agreement with Ball Plaza Holdings, LLC for ten parking spaces located in Off -
Street Parking Development District Lot 7 for the purpose of converting those spaces from metered
parking to free two hour public parking at a monthly cost of $35.00 per space.
PASSED and APPROVED on 12/1/2015
Attest:
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Sondra E. Smith, City Clerk Treasurer
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Page 1 Printed on 1212115
City of Fayetteville, Arkansas 113 West Mountain Street
,._ Fayetteville, AR 72701
®6 (479) 575-8323
Text File
File Number: 2015-0524
Agenda Date: 12/1/2015 Version: 1 Status: Passed
In Control: City Council Meeting File Type: Resolution
Agenda Number: A. 2
BALL PLAZA HOLDINGS, LLC:
A RESOLUTION TO APPROVE
A TWO YEAR SUBLEASE AGREEMENT
WITH BALL PLAZA
HOLDINGS, LLC FOR
TEN
PARKING SPACES LOCATED IN OFF-STREET PARKING
DEVELOPMENT DISTRICT
LOT
7 FOR THE PURPOSE OF CONVERTING
THE SPACES FROM
METERED PARKING TO
FREE
TWO HOUR PUBLIC PARKING AT A
MONTHLY COST OF
$35.00 PER SPACE
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 two year
sublease agreement with Ball Plaza Holdings, LLC for ten parking spaces located in Off -Street Parking
Development District Lot 7 for the purpose of converting those spaces from metered parking to free two
hour public parking at a monthly cost of $35.00 per space.
City of Fayetteville, Arkansas Page 1 Printed on 121312015
City of Fayetteville Staff Review Form
2015-0524
Legistar File ID
12/1/2015
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
Melissa Elmore 11/5/2015 Parking & Telecommunications /
Chief of Staff
Submitted By Submitted Date Division / Department
Action Recommendation:
Staff recommends approving the Sublease Agreement with Ball Plaza Holdings, LLC. The term will be for two (2)
years. The City will convert ten (10) metered parking spaces in Lot 7 to free 2 hour parking in a 4 hour time frame.
Ball Plaza Holdings, LLC will pay rent of $35.00 per space per month. Spaces will remain 'Public Parking'.
Account Number
Project Number
Budgeted Item? No
Budget Impact:
Current Budget
Funds Obligated
Current Balance
Does item have a cost? No Item Cost
Budget Adjustment Attached? No Budget Adjustment
Remaining Budget
Fund
Project Title
$
V20140710
Previous Ordinance or Resolution #
Original Contract Number:
Comments:
Approval Date:
CITY OF
ARKANSAS
CONTRACT REVIEW MEMO
TO: Mayor Lioneld Jordan
THRU: Peter Nierengarten, Sustainability & Resilience Department Director
FROM: Melissa Elmore, Parking Management
DATE: November 5, 2015
SUBJECT: Approve Sublease Agreement with Ball Plaza Holdings, LLC
RECOMMENDATION:
Staff recommends approving the Sublease Agreement with Ball Plaza Holdings, LLC. The term
of this Sublease Agreement will be for two (2) years.
BACKGROUND:
In March of 2015, Ball Plaza Holdings, LLC, requested approval from the Off -Street Parking
Development District #I (the "District") to convert ten (10) metered parking spaces in their Lot 7
to free 2 hour parking during any 4 hour period. In exchange for the conversion of these ten (10)
metered parking spaces, Ball Plaza Holdings, LLC agreed to pay $35.00 per space per month.
Approval was given by the District through their acceptance of the Amendment #1 to Lease
Agreement between the City of Fayetteville and the District that was executed on October 30,
2015.
The Sublease Agreement provides for the City to convert ten (10) metered parking spaces in Lot
7 (Exhibit A) to free 2 hour parking during any 4 hour period, provide parking enforcement for
those spaces and collect the monthly rental amount of $350.00 from Ball Plaza Holding, LLC. The
spaces will remain `Public' parking. At the end of the two (2) years, unless an extension is
mutually agreed upon, the spaces will revert back to paid parking.
BUDGET/STAFF IMPACT:
There is no budget impact. The annual monthly rental of $4,200.00 will become a part of the `net
operating revenues' that are paid back to the District on a quarterly basis.
Mailing Address: PARKING MANAGEMENT
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701