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<br /> H:IJ-lj-¿UUj IHU Uo.....;,;¡ 1111 IIIL llt1".....' "L,~ ~~... ...._ .._ <br /> FEB 13 2003 9:36ÀM CITY ATTORNEY C~F]CE S50 780 5963 p.2 <br /> .. '12.,(: oZ <br /> . '1.A <br /> Ret~/Gnerna Parking <br /> Business Points <br /> The following terms are principles for the negotiation of a Parkirig Fadliti~ <br /> Ag:reem.ent for the Project (as defJ..ned in the Dispositian aru:i Development <br /> i AgrèeInent. as amended. between the City and Developer). The Parking. <br /> , Facilities Agreement win be an attachment to the DDA. The signa.tories <br /> : acknowledge and agreé that the terms are a general outline of the basic terms <br /> of the Parking F~cilities Agreement. The execution of this document wU1 not <br /> bind or obligate the ~ignatories until all the signatories execute the final <br /> Parking Facilities Agreement. Each signatory agrees to work in good faith in <br /> dra£tirig a fi.na1 ParJdng Facilities Agreement. It is acknowledged that <br /> Century Theaters is a third party beneficiary to the Parking Facilities <br /> Agreement. <br /> The purpose of the final Parking Fadllty Agreement is to ensure that <br /> su££ident parking is available, in the downtown to support both t:Þe <br /> :retail/cinema project and the rest of the downto'1o\"n bwúnesses. The parties to <br /> , these Business Points and Century a:re committed to t1Us declared purpose, <br /> , <br /> ; and the Puking Agreement is one, but certam1y. not the only tool for <br /> assuming this common goal. An active, weU parked downtown is in the best <br /> ; interest of the City, the developer, Century Theaters, and all other downtown <br /> , <br /> businesses. <br /> 1. Jefferson Garage <br /> a. The Developer win construct approximately 5951 public parking <br /> ; . spaces (the Jefferson GU4ge) on two le..,elø under the Project and <br /> MiddJefield Road. The City will not pay more than the actual cost <br /> of construction of the garage. The Developer will operate the <br /> garage for one year following its opening subject to the terms and <br /> conditions of thé Patking Facilities Agreement. Subsequent to the ' <br /> first year, the City will operate the Jefferson Garage as a downtown <br /> public puking garage, pursuant to the Parking Facilities <br /> Agreement. ' <br /> b. Not less than $5.002 per hour parking charge for Peak Periods <br /> t Plus or minus 10"-1) as City reasDnably det.mninea thè number of parking spaœs that can fit on. <br /> , the site. Developer has represented that it wiJJ produœ J\t)t lens than 580 8pi'ce5. ' . <br /> ; J The SS.cO charge will be kept current by rea~onable adjú5tment5 fo1' inflation, but with <br /> minimum adjustments of fifty cent U\CJ:eInents. <br /> Cb>e~ 8U11inees PCJi.nts <br /> Page 1. 121S102. <br /> .~ ~~ <br /> . <br /> . <br /> . -", -........,.....- <br />