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Item 6f <br />In Lieu Parking Agreement for 349 Main Street (Branagh Development), (SR97:07) <br /> <br /> Ms. Michelotti abstained from this item because she owns property downtown; she left <br />the dias. <br /> <br /> Brian Swift presented the staff report. <br /> <br /> Mr. Roush indicated the contract is written and payments based on getting a consolidated <br />project with the Bank of America so that the parking lot will be available for sharing. Because <br />this deal is still in negotiation, the developer is asking that the $45,000 be paid at the building <br />permit stage and the installments would begin if the Bank of America project comes about. That <br />is consistent with the project across the street and still guarantees the $45,000 payment in <br />advance. He felt this was an equitable solution. <br /> <br /> Mr. Tarver expressed concern that the money collected today would be insufficient in <br />the future to provide the actual parking spaces. He preferred conditions that do not have a top <br />limit on the parking fees. If the City has to build a parking lot in the future, he wanted to be <br />certain the actual cost of that was provided on a fair share basis. <br /> <br /> Mr. Roush indicated staff computes the in-lieu fee with the best information available on <br />the cost of providing parking. There might be a way to devise an agreement to accomplish the <br />goal as stated by Mr. Tarver, but he felt it would be equitable to put some sort of cap in terms <br />of timing or amount; otherwise the developer would have an open-ended obligation that could <br />cause difficulty with financing. <br /> <br /> Mr. Tarver felt something like the school impact fee agreement could be used. <br /> <br /> Michael Goldsworthy, 3860 Blackhawk Road, representing Branagh Development, <br />indicated he had worked with staff for a long time on this and concurred with the current <br />agreement and staff report. <br /> <br /> There was no further testimony. <br /> <br /> Ms. Ayala felt the applicant had been working in good faith with staff and although she <br />may agree with the Mayor's comments, she did not feel it was fair to impose that on this <br />project. <br /> <br /> It was moved by Ms. Ayala, seconded by Ms. Dennis, to authorize the City Manager <br />to execute the agreement with the modifications presented by the City Attorney. <br /> <br /> Ms. Dennis also agreed future developments should have a different formula applied. <br /> <br /> 16 1/07/97 <br /> <br /> <br />