09/27/11 - Laserfiche WebLink

Home

be Parking Maintenance Costs under Section 7 below, and the proceeds received from the operation of the Public Parking Areas on a fee basis will be applied to reduce the budgeted Parking Maintenance Costs allocated among the Parcels pursuant to Section 9 below. 5.5. The City may, from time to time, temporarily limit or deny access to parking spaces within the District A Parking Improvements as the City determines to be necessary or desirable in connection with the maintenance, repair or replacement of District A Parking Improvements or the construction of expansions of or additions to the District A Parking Improvements. The City must use all commercially reasonable efforts to minimize any interference with the use of the parking stalls in the Exclusive Use Area. 6. Maintenance. Repair and Replacement of the District A Parking Improvements. The City will maintain, repair and replace the District A Parking Improvements in a manner consistent with other public parking facilities in the greater Minneapolis -St. Paul, Minnesota metropolitan area. 7. Parking Maintenance Costs. For purposes of this Agreement, the term "Parking Maintenance Costs" means all costs and expenses that the City incurs to operate, maintain, repair and replace District A Parking Improvements, including, but not limited to, costs associated with snow removal, insurance, security, elevator maintenance and repair, lighting, landscaping, signage, parking control facilities, staff and contributions to a reserve fund for future maintenance, repair and replacement costs. Parking Maintenance Costs include both amounts the City pays to third parties to operate, maintain, repair and replace District A Parking Improvements and administer this Agreement and the fair market value of any services provided by City employees in connection with the operation, maintenance, repair or replacement of District A Parking Improvements or the administration of this Agreement. Parking Maintenance Costs may also include periodic contributions to a reserve fund the City establishes to provide a source of funds for major repairs, renovations and replacement. 8. Budget of Parking Maintenance Costs. The City may, from time to time, establish a fiscal year for the purposes of budgeting for Parking Maintenance Costs. If the City does not establish a fiscal year, the fiscal year for budgeting Parking Maintenance Costs is the fiscal year. On or before the date thirty (30) days prior to the beginning of the first full or partial fiscal year and thirty (30) days prior to the beginning of each full fiscal year thereafter, the City's staff must prepare and the City Council must approve a proposed budget of anticipated Parking Maintenance Costs for the next fiscal year. 9. Charges for Parking Maintenance Costs. On or before the date thirty (30) days prior to the beginning of the first full or partial fiscal year and thirty (30) days prior to each full fiscal year thereafter, the City Council must adopt a resolution allocating the budgeted Parking Maintenance Costs for that fiscal year among the Parcels. The allocations will be based on the budgets described in Section 8 above. The share of the anticipated annual Parking Maintenance Costs the City allocates to each Parcel for a given fiscal year will be determined my multiplying the Parcel's "Allocated Share," as determined pursuant to Section 10 below, by the budgeted Parking Maintenance Costs for that fiscal year. 5 3141289v3