Agenda - Council Work Session - 09/02/2003

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[DRAFT] 9.2 PHASING OF STRUCTURED PARKING. The t,,~,,,=, r~=, .... t .... ~,la~,.o the constructicn of three ..... po..C. ~ty a~ees to study the advisability of establisNng a. public parNng afithorib, or desi~ating another body to work ~th the Developer to mu~alty detemne whether any of the parking structures to be located witNn the ~ ~ .... ~ ~,~ ...... ~,~ +h=,~ CityRTC ...... Project. should be pubtic,~., and if so,, to ~her detemme (i).. if the ~evel~per or the Ci~ should desi~ and construct the facilities; (ii) the.conditions precedent to }he construction of any publ!9 parking stmc~es; (iii) the t~emble for co~encement and completion of constmchon; (iv) if}he construction, of the public parhng stmc~es should be phased; (v) how to finance the construction of any public paring struc~es; (vi) who should operate and maintain any public parking s~c~es; and (V) how operation and maintenance should .be ~nded. If the Developer and the Ci~ a~ee on the.s~cifics regarding any public parking structures,, the Developer and the CiB, shall enter into an amendment to t~s Master a~eements. 9.3 DESIGN AND CONSTRUCTION OF STRUCTURED PARKING- DEVELOPER'S OPTIONAL INITIATIVE. The Developer ma3', by formal notice to the City, obligate the City to commence design and construction of one or more of the Parking Ramps upon the Developer's satisfaction of the following conditions precedent: (a) The Developer's submission to the City and the City's approval, for purposes of this Section 9.__ only, of pre!imina~'Preliminary Secondary Development Plans for the development of a ghasephase within the TC- 1 Zoning District which will rely for parking upon the Ramp or Ramps referenced in the Developer's Formal Notice for parking; (b) The Developer's conveyance to the City of marketable fee title to the portion of the Subject Property upon which the Ramp referenced in the Developer's Formal Notice is to be constructed ;,-+r,~ r-~+., ~ ..... + ~.~ ..... +r, ...... '~" The Developer must convey the ~,, ..... ~, ~jPrope~ to the Ci~ via Warranty Deed. The Developer must pay all state deed tax due on the conveyance of the Property to the City and must pay or provide for the payment of all rea] estate taxes and special assessments levied or pending against the Property (including special assessments pending aga~st the Prope~ pursuant to the te~s of t~s Master A~eement) as of the date of closing whether or not .such taxes or assessments are cu~ently due and payable. Title to the Prope~ must be marketable, subject to only public utility easements which will not interfere Mth the development of the Prope~ for the construction of the Ramp referenced in the Developer's Focal Notice. The Developer must deliver to the City a Le~er of Credit: or alte~tive secuhty authorized under Section 12,4~ in an amount equal to one-haft of the estimated cost of the construction of the Ramp, as set