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File #: ID 17-0728    Version: 1 Name:
Type: Resolution Status: Passed
File created: 10/31/2017 In control: City Council
On agenda: 12/19/2017 Final action: 12/19/2017
Title: Resolution Authorizing the City Manager to Enter into a Project Involvement and Cost Sharing Agreement with CHI Greensboro, LLC for the Construction of the Eugene Parking Deck and, Authorizing a not to Exceed Amount of $30,000,000 for the Project
Attachments: 1. Resolution 098-17 for design.pdf, 2. Resolution 264-17 for Downtown Slugger.pdf, 3. 17-0728 Reso..pdf

Title
Resolution Authorizing the City Manager to Enter into a Project Involvement and Cost Sharing Agreement with CHI Greensboro, LLC for the Construction of the Eugene Parking Deck and, Authorizing a not to Exceed Amount of $30,000,000 for the Project

Body
Department: Executive
Council District: 3

Public Hearing: N/A
Advertising Date/By: N/a

Contact 1 and Phone: David Parrish, Ext. 2002
Contact 2 and Phone: Adam Fischer, Ext. 2861

PURPOSE:
City Council adopt a resolution authorizing the City Manager to enter into a Project Involvement and Cost Sharing Agreement with CHI Greensboro, LLC for the construction of the Eugene Parking Deck and, authorizing a not to exceed amount of $30,000,000 for the Eugene Parking Deck Project.

BACKGROUND:
Currently the City's four (4) parking structures are at or near capacity with monthly and transient parkers. Over the past twelve months the City of Greensboro has experienced a significant growth in parking demand due to new and anticipated development in downtown Greensboro. Within the downtown core, the City is projecting a deficit within the next two years due to new residential, office development, commercial, and hotel development.

On May 2, 2017, the City Council authorized the City Manager to enter into a Memorandum of Understanding (MOU) with CHI Greensboro LLC to design and build a public/private parking structure and committed to reimbursing the design costs in an amount not to exceed $2,000,000 pursuant to Resolution #098-17. On September 19, 2017, the City Council authorized a Downtown Development Project and Parking Agreement with Downtown Slugger, LLC to lease up to 265 parking spaces in the new parking structure, pursuant to Resolution #264-17.

The Eugene Downtown Development Project is defined into two phases; Phase One will consist of the complete design and construction of the Eugene Parking Deck, a public/private parking structure of approximately 1050 public spaces and private basement parkin...

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