Parking decision delayed a third time
As the wrecking ball nears, redevelopment agency members are pounding out one of the last agreements needed to get the Park Avenue Redevelopment Project rolling – parking.
Decisions on how much parking will cost, if there will be parking gates or guards to collect the fees and the hours that the parking spaces will be open will determine who builds the 500-space parking garage near Park Avenue in 2001.
Judith Von Klug, the city’s redevelopment manager, said if an agreement between the city and the seven developers can’t be reached, the garage will be built and parking rates determined by the developers. If an agreement on rates comes to fruition, the city will foot the bill for the $5 million garage.
It will be the first paid parking in South Lake Tahoe.
Councilwoman Brooke Laine said at a South Tahoe Redevelopment Agency meeting Tuesday the garage could be a good revenue source for the city.
“I think the city should step up to the plate and take responsibility for it,” she said. “I think it could be a positive revenue string for the city.”
Building the garage means the city would have to sell more bonds, bonds that would have to be paid back with the revenue earned by the parking fees.
Councilman Bill Crawford questioned if revenues would cover the expenses.
“The point to stress here is that if the city doesn’t generate the revenue to pay for the bond then the general fund is obliged to cover the debt,” he said.
But before the city and the builders get to the point of how to manage the garage and who will build it, language in the Parking Management Agreement must be decided.
A memorandum of understanding to the Parking Management Agreement was brought for approval Tuesday to the Redevelopment Agency.
The memorandum adds a conflict resolution clause that states if the proponents of the project can’t agree on terms, mediation with a neutral party will be effected. If that doesn’t produce an agreement, binding arbitration with a parking specialist will finalize the decision.
Attorney Lew Feldman, representing the developers and owners of the Crescent V Fashion Center, said the developers are willing to negotiate in good faith.
“I think we’re on the same page, looking to the same outcome,” he said. “But it would be prudent for me to get input from my clients who will be signing the agreement.”
Redevelopment Agency chair Hal Cole moved to postpone action on the memorandum until Jan. 18. This is the third time the memorandum has been continued.
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