Title
Resolution to Approve Amendment No. 1 to the City/DDA Parking Agreement
Memorandum
The City and DDA initially entered into a Parking Agreement in 1992 for the DDA to manage the city's parking decks and lots. Over time that arrangement modified for various developments, resulting in a new Parking Agreement approved in 2011. The City downtown area continues to see development, job growth, and more integrated solutions to transportation issues. In 2015 the DDA also revised its parking demand study, which included a number of ways to improve managing the existing parking system.
Over the past year, the City and DDA have raised the possibility of re-opening the parking agreement to address potential needs of both parties. A joint City Council/DDA work session was held on January 9, 2016 to discuss the parking system. This was followed by a resolution passed by the DDA Board on February 1, 2017. The resolution included support for increasing the City's revenue share from 17% to 20% and outlining a process that could be followed for the DDA to pursue other improvements to the management of the parking system.
The attached resolution amends the existing parking agreement to increase the City's revenue share from 17% to 20% for FY2018 & FY2019 (equivalent to approx. $630k per year) to allow time for the City & DDA to discuss other potential management changes. Staff recommends approving the amended agreement.
Staff
Prepared by: Tom Crawford, CFO/Finance and Administrative Services Area Administrator and Mary Joan Fales, Senior Assistant City Attorney
Approved by: Howard S. Lazarus, City Administrator
Body
Whereas, On July 1, 2011, the City of Ann Arbor ("City") and the Ann Arbor Downtown Development Authority ("DDA") entered into an agreement for the management, operations, maintenance, capital and financial obligations of the City and the DDA with respect to the Ann Arbor municipal parking system ("Parking Agreement");
Whereas, The Ci...
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