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09-22-1992 - Special .,-.', ',' ~ "", . . ," Agenda/C . 9-22-92 o LJ 00 '. . .," " : : '. . ~ . I' AGENDA Community Redevelopment Agency September 22, 1992 . following 10:00 A.M. Special Worksession I. Call to order II. $3,000 Contribution to the Downtown Development Board for promotional activities i I I ~ f f ~ f III. Kravas Property IV. Amend the approved 1992/93 CRA Budget to reimburse the parking fund $1 7,300 for lost revenues in order to all two hour "Free Parking" in certain City parking lots and metered street parking spaces for a three month trial period effective 1 0/1 /92 v. Schedule Goal Setting Meeting VI. ' Adjournment .,.~:.. .. . 1 . ".. , '., ".' r ' Community Redevelopment Agency Agenda Cover Memorandum Item /I Meeting Date: "IC. ~ ~ 9/22/92 SUBJECT: Contribution to the Downtown Development Board RECOMMENDA TION/MOTION:A ward a contribution to the Downtown Development Board in the amount of $3,000 for promotional activities - X and that the appropriate officials be authorized to execute same. BACKGROUND: At the Commission worksession on September 14, 1992, Ms. Brenda Nixon made a presentation to the Community Redevelopment Agency requesting an amount up to $3,000 for the purpose of supporting her contracted services contract with the Downtown Development Board. The funds were requested for the general purpose of providing for miscellaneous expenditures including the possible payment of utility deposits on Cleveland Street front properties, marketing support, etc. Because the Downtown Development Board has contracted with Ms. Nixon and has the responsibility for monitoring the progress of this program, the Downtown Development Board is the most logical body for determining the appropriateness of these expenditures.. The Community Redevelopment Agency can best support this program with a contribution to the Downtown Development Board in the amount of $3,000 for promotional expenditures as deemed appropriate by the Board. The Fiscal Year 1991/92 Community Redevelopment Agency budget will be amended to reflect the transfer . of these funds to the Downtown Development Board. Reviewed by: Legal N/A Budgct ~~~~ Purchasing N/A Risk Mgmt. NI A CIS N/A ACM $1) Other N/A Advertised: Date: - Paper: o Not Required Affected Parties o Notified 0 Not Required "II' - Costs: $3.000 Total Commission Action: o Approved o Approved w/conditions o Denied o Continued to: CUrrent FY Funding Source: o Capital Imp. ~ Operating o Other Attachments: Appropriation Code: 188-1-7000- 9021581 o None -- A- --.... Item #I --111--- Meeting Date: October 1. 1~92 COIlUIlUJlUy Redevelopment Agcllcy Agenda Covcr MCltlornndmll SUBJECT: Purchase of property located at 616-626B Cleveland street l- _ RECOMMENDATXON/HOTION: Approve the purchase of Lots 4 through 10, Block 19 of Gould and Ewing's Second Addition to Clearwater Harbor, located at 616 through 626B Cleveland Street from William Kravas for a total price of $365,000. 1m and that the appropriate officials be authorized to execute same. - BACKGROUND: For the past six months, staff from the Department of Economic Development has been involved in negotiations with William Kravas for the sale of his property located at 616-626B Cleveland street. This property which encompasses a series of narrow bay buildings fronting on Cleveland Street and a metered parking lot in the rear leased to the city is approximately 36, 123 square feet or .83 acres. The property is adjacent to Station Square Park, a mini-park recently installed by the City of Clearwater. Department staff recommends purchase of this property for a variety of reasons. First, the retailers in downtown have long argued for visible surface parking. Since this lot is already metered and was recently resurfaced, it would fulfill this requirement quite nicely. Should the CRA consummate the purchase, staff would recommend the buildings be demolished and a curb cut be made to access the lot directly from Cleveland street. The meters which are currently in place are long-term parking meters. These should be changed to short-term meters to accommodate short-term parkers. Secondly, aside from the convenience and economics offered by the ready-to-use parking lot, it is in the eRA's best interest to own the property adjacent to the mini-park. Should this property be purchased by a private individual or group, there is no guarantee that the uses would be complimentary or compatible with the existing mini-park. At the CRA meeting of July 13, 1992 the ~~~$~~~s' authorized purchase for a maximum of $10.10 per square foot'unless an appraisal determines the value to be less. An appraisal commissioned by the eRA, done by R.E. Marketing Consultants and dated July 24, 1992 estimated the fee simple, "as is" market value for the property at 5490,000. Funds are available in eRA code 188-1-7200-601/554 for this purchase. , Reviewed by: LegaL Budget Purchasing Risk. Mgmt. CIS ACM Other Originating Dept: Costs: Econ Oevelopnent Ss.~ $365:t000 Tota l Commission Action: o Approved [] Approved w/conditions [] Deni ed [J Continued to: tNJ/~ N/A t: N/A N/A User Dept: Current Fiscal Yr. Fundi ng Source: o Caphal 11l1l. o Operating o Other Att:actunents: M'Ili tte(f bv:J D"V:c..~ Cit Manager uj,~ Is:- Advertised: Date: Paper: . Not Required Mfected Parties o Notified S' Not Requi red A~ropriatjon Code: 188-1-7200-601/554 ^ ~. Print~ on recycled paper - ~\\~l.-' ~ f::i ..._,1, . t~ ~ ~) ~ --=-- ~ ~TE9.~~ - Item#.~ CLEARWATER COMMUNITY REDEVELOPMENT AGENCY Meeting Date: 09/28/92 AGENDA COVER MEMORANDUM SUBJECT: DOWNTOWN PARKING RECOMMENDATION/MOTION: To amend the approved 1992/93 eRA Budget to reimburse the parking fund $17,300 for lost revenues in order to allow two hour" free parking II in certain City parking lots and metered street parking spaces for a three month trial period effective October 1, 1992. ~ and that the appropriate officials be authorized to execute same. -- ..... BACKGROUND: The eRA has been requested to support the Downtown Development Board (DDB) project to promote the downtown business area by attracting artists and galleries to the currently vacant storefronts on Cleveland Street. Ms. Brenda Nixon has contracted with the DDH to promote this program and she has indicated that accessible, free parking is important to the success of her revitalization efforts, The Department of Administrative Services, Finance Division has estimated that II free parking II will have the following impacts on the parking fund: On Street Spaces: Waterson, north of Cleveland Garden, north of Cleveland Park Street, from North Fort Harrison to East Total on street parking Estimated lost revenue for three month trial period Parking Lots: Kravas Lot Estimated lost revenue for three month trial period Park Street Lot (adjacent Sun Bank Building) Estimated lost revenue for three month trial period 11 spaces , 11 spaces 19 spaces 41 spaces $7,200 49 spaces $5,725 25 spaces $4,375 Total Transfer To Parking Fund To Permit "Two Hour Free Parking" On A Trail Basis $17,300 If it is decided to continue the free parking program on a permanent basis it is recommended that the total long range impact on the parking system be assessed by an independent qualified parking consultant as defined in the parking revenue bonds. User Dcpt: City Manager $ 0.00 Current Fiscal Yr. Commission Acti~: o Approved o Approved w/conditions o Deni ed o Continued to: Revi ewcd b'/: Legal Budget Purchasing Risk Mgmt. CIS AC~{ Other N/A ~ N/A N/A /3.D Originating Dcpt: City Manager Costs: $ 17.300 Total ~~k~ CIty Man~~ V Advcr t i sed: Date: Paper: ti!1 Not Required Affected Parties ~ Notified o Not Required FUlding Source: o Capital Imp. o Operating ~ Other Parking Attachments: 1) Memo from Finance Director of 9/17/92 Appropriation Code: 188-7000-906-581 2) Memo from Finance Director of 9/18/92 o None ..'.. .'. \' ~iih,':' '.,',':,: f''r;h>';:~~,.:oI:''<'~;.::(~~~:' J, ::i~.X:<,-' ~ ;~; .... ,i~;'1:;? ":i<:>.J: .... ~ I . . \ ! . ". . ' . \ I I ,\ I \ . ' " , ( CITY OF CLEARWATER INTERDEPARTMENT CORRESPONDENCE FROM: Michael Wright, City Manager Dan Deignan, Finance Directo~-->~ ~ T-.-- (j' Kathy Rice, Deputy city Manager Betty Deptula, Assistant city Manager Jeff Harper, Director of Administrative Services Tracey Bruch, Parking Facilities Manager Peter Yauch, Asst. Director/Public Works! Traffi.c Engineer Val Mahan, Systems and Project Manager TO: COPIES: SUBJECT: Impact of Proposed Free Downtown Parking DATE: September 17, 1992 At your request, I have researched the proposal to provide free parking downtown and in the former Maas Brothers lot, as was recently suggested by Brenda Nixon, DDB Consultant. I discussed the proposal with Tracey Bruch, Parking Facilities Manager, who was very helpful in relaying the following information. There are 41 on street metered spaces downtown which would be converted to free parking under Ms. Nixon's proposal. Each of these spaces is currently metered at 30e per hour, from 8:00 to 6:00, or ten hours per day. At full utilization, therefore, each spot could produce maximum revenue of $3.00 per day, $15 per week, or $780 per year. All 41 spaces, therefore, could generate a maximum annual revenue of $31,980 (41 x $780). Even with a two hour limit on free parking, both Tracey and I agreed that it would be reasonable to assume 90% utilization of these spaces, since the free spaces will certainly be preferred over metered spaces or the garages. The potential revenue loss to the parking system is, therefore, approximately $28,780 (90% of $31,980). The situation at the Maas lot is not quite as straight forward. As Tracey explained it to me, this lot is immediately adjacent to the "Coachman" lot, which has 70 30e;: per hour meters and 170 109 per hour meters. This lot produced actual revenue of $4900 in fiscal 1991 and is projected to produce only $3500 for fiscal 1992. Both Tracey and I agreed it would be impossible to predict the impact of free parking at Maas Brothers on the rest of the system, but it would at least be fair to assume that the revenue from the adjacent Coachman lot would be virtually eliminated. In summary, we are estimating the potential lost revenue under Ms. Nixon's proposal to be $32,300, computed as follows: Revenue lost from 41 free on street spaces Revenue lost from Coachman lot Total estimated revenue loss $28,800 3.500 $32.300 ." " "\ ';,?". '.. ..~."....'. .... ""'i'. '. , :,;:',,\L,.' ,~~,,;':~~, ....:' .",; ...','~ : ~:"~.,', '?~ ,:n'~ T,i' '~')>~' j ":;/':, ."'.' ,'~ ~, .. ~ :',~:, . " , ." .., . " ,\ , ," . ~ -. ". ; . '" ' .' '.! '. .', . . .. ( Finally, please keep in mind that the 1983 parking bonds prohibit us from making any portion of the parking system free unless an "independent qualified parking consultant" shall certify that the remaining revenues will still be sufficient to' provide 140% debt service coverage on the outstanding bonds. Presumably, replacing the lost revenues from some other source would preclude this requirement, but because of the nature of the estimates involved, an independent consultant might still be deemed necessary~ Please let me know if you would like any additional information. I will be happy to discuss this with you in greater detail at your convenience and request. . . ~; . '~. ~ .,' .~, :/'. '.'\,' ~.~:"::;,..IJ,./j,.,, ,\', .~:' .\'~" ,I,,',.. ,/ , ',", ',:', ,.'/' ."'. '.~ ...~ ~ ',.,1 ~'r"'\"~',' " ,1,', j , . . '. \ , ' .' ' . . ., \ ./ . "_ " / . \ 1:/ '\' ,,' '. _ " " ." ' ';.'. I . >., . '. ", .. . " ". - ....'.".4 ' . I' " .' . . '.' , I .. /'1'" . . _. . '1 . . ~/" " ( /. 1 . , . " ~ I '" , , ~ ~', ~:/ .~., ''\ '\ ~ '.' .' .....~~_..:, . ~,' 4 .-.' ~ I.. ;\\""./'/~'1I, , " , ,,",. ~. "\ ....\...' I" .. . ", .r..,. '.. /' '11 '. './ \'.\....>-,'~) ,.",,' ..,'I' .---' ......,\ I,. \' , I - \. 4" . I :.a::. .......'.......... .......', '.' / / . .o, .., \ SUBJECT: CITY OF CLEARWATER INTERDEPARTMENT CORRESPONDENCE ~ai:ti.tYl:;D.ptula,: .' Assistant city Manager: Dan Deignan, Finance Directo~ Michael Wright, City Manager - V' Kathy Rice, Deputy city Manager Jeff Harper, Director of Administrative Services Peter Yauch, Asst. Director/public Works/ Traffic Engineer Additional Data Regarding Downtown Parking TO: FROM: COPIES: DATE: September 18, 1992 Per your request, the chart below indicates the current year's projected revenue for the Kravis and Park Street downtown parking lots, as well as the potential loss of revenue to the system in the event the lots are converted to free parking. As before, I obtained the necessary historical data from Tracey Bruch and I again discussed the potential revenue loss with her. She and I are in agreement that more revenue will be lost to the system than just the revenue previously taken in on the converted lots. In Val Mahan's words, "Elasticity of demand is infinite when the supply price is zero," which can be translated to, "Free lots fill up first." Tracey and I both still believe that 90% of the maximum revenue that these lots could otherwise generate is a fai~ measure of the potential revenue loss to the system as a whole. The estimate below is computed using this theory. Actual 1992 Revenue l proj ec.ted) Potential System Revenue Loss if Free Kravis Lot (#18) 49 spaces, 209/hour Park street Lot (#28) 25 spaces, 309/hour 6,800 10,000 22,900 17,500 40,400 16,800 Please call if you would like to discuss this or if you wish further information. , '. . ",," , , ' " " <",' , . \ ' . ',' ' , '.. /' . , " ." '. 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