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Consent: 1 1 <br />REVIEW AND ADOPT 2009 PARKING MAINTENANCE BUDGET <br />By: Diana Lund, Finance Officer <br />Background: <br />The City entered into what is termed "The Parking Improvement Use and Maintenance Agreement" with <br />Ramsey Town Center, LLC on February 28, 2005, which was included as part of the Master Development <br />Agreement between the City and RTC. <br />Per Section 8 of the Parking Agreement, staff must prepare and submit a proposed budget of anticipated parking <br />maintenance costs for the next calendar year and it must be adopted by November 30 of the preceding year. In <br />other words, the 2009 Parking Ramp Maintenance budget needs to be adopted by November 30, 2008, <br />Council must also adopt a resolution allocating the budgeted parking maintenance costs to benefiting parcels by <br />November 30, 2008. This resolution with respective benefiting parcels will be presented at the November 25, <br />2008 City Council meeting, <br />Funding Source: <br />None Required. <br />Council Action: <br />Approve attached Resolution #08-11 -XXX Adopting the 2009 Parking Maintenance Budget. <br />Reviewed By: <br />City Administrator: LLD <br />Finance Officer <br />CC: I1 /10/08 <br />—67— <br />