June 3, 2011
- Approve Order of Agenda;
- Approve Minutes of the May 6, 2011 Meeting;
- Report from the New Ramp Sub-Committee: Review Fund Balances and Discuss Construction Finance Options;
- Update on Great Northern Parking Conference;
- Review Operator's Report;
- Discuss July Meeting Date; and
- Other Issues
Item 1: Approve Minutes of the Regular Meeting of May 6, 2011
Ms. Bailly moved to approve the minutes of the May 6, 2011 Parking Commission meeting. Second by Ms. Stoker. All members present voted aye and the motion was declared carried.
Item 2: Report from the New Ramp Sub-Committee
Senior Planner Bob Stein reviewed the information on the new ramp sub-committee meeting from May 11, 2011 that he had distributed to the Commission. He summarized the debts owing, when they would be retired, and the annual amounts paid from operating funds, assessments, and Tax Increment Funds (TIF). The Commission discussed maintenance and foreseeable expenses. They considered other possible revenue sources and existing reserves. Mr. Stein pointed out that it would be possible to divert approximately $200,000 from operating funds to debt service for a new ramp. The Commission discussed the amount of debt that could be leveraged by those funds and income from a new structure. They considered demand and the average cost of parking structures.
Mr. Stein reviewed the next steps in the process, including seeking permission from the City Commission to pursue property acquisition. Commissioner Williams noted that the financial situation for the parking accounts was being studied to firm up the estimated numbers Mr. Stein had presented. The Commission considered funding sources and options. Mr. Stein pointed out the Renaissance Zone improvements had doubled property values downtown and the increased tax revenue from the surrounding properties made the general fund a reasonable source for funding as well.
Mike Allmendinger and Margaret Asheim from the Kilbourne Group addressed the Commission. Mr. Allmendinger noted that their firm has an option on developing the US Bank Plaza parking lot and is interested in discussing a public-private partnership. He stated that twelve months remain on the option and they still intend to exercise it if possible. He noted the Second Avenue site would also offer a good opportunity for a development with the City. The Commission discussed how development on these sites would serve to strengthen and expand downtown. Mr. Stein pointed out that developing the US Bank Plaza lot would not preclude development on the Second Avenue corridor. Ms. Bailly noted development downtown has brought an increasing number of parties interested in such partnerships. The Commission discussed what information developers would need from the City to help foster public-private partnerships.
Ms Bailly moved staff be directed to recommend to the City Commission that the owners of the adjacent properties to the Second Avenue Lot be approached for acquisition and to undertake a demand study for that location. Second by Commissioner Williams. All members present voted aye and the motion was declared carried.
Item 3: Update on the Great Northern Parking Conference
Mr. Stein reviewed the status of the conference, including sponsors and registration.
Item 4: Operator’s Report
Mr. Stein reviewed the operator’s report for May, 2011. He noted that most of the decrease in monthly rentals was from students leaving for the summer months but that there were still 55 more spaces rented over May, 2010. He stated the lamps in the Radisson ramp have been replaced with fluorescent lights and the stairwells have been repainted. He pointed out that two of the square-foot gardening plots at the 5th Street North lot have been staked and planted.
Item 5: Discuss July Meeting Date
Assistant Planner Kim Citrowske pointed out that the July meeting was scheduled to fall on the Friday before the Fourth of July and suggested that the Commission might wish to reschedule the meeting. The Commission agreed to reschedule the meeting to 8:00 o’clock a.m. on July 8, 2011.
Item 6: Other Issues
There being no further business to come before the Commission, the meeting was adjourned.