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REVIEW AND ADOPT 2008 PARKING MAINTENANCE BUDGET <br />By: Diana Lund, Finance Officer <br />Background: <br />Consent: I <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 2008 Parking Ramp Maintenance budget needs to. be adopted by November 30, 2007. <br />Council must also adopt a resolution allocating the budgeted parking maintenance costs to benefiting parcels by <br />November 30, 2007. This resolution with respective benefiting parcels will be presented at the November 27, <br />2007 City Council meeting. <br />Funding Source: <br />Norte Required. <br />Council Action: <br />Approve attached Resolution #07-11-~C~ Adopting the 2008 Parking Maintenance Budget. <br />Reviewed By: <br />City Administrator: <br />Finance Officer <br />^ <br />1 CC: 11/13/07 <br />._1.1.9_ <br />