25C - AGMT FIFTH ST PARKING LEASE

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Agreement with East End Partners, LP June 5, 2018 Page 2 accessible to the public. Access from the parking structure is provided directly to the second floor of the building via a pedestrian walkway that leads into the hallway of the residential building. At this point, the construction plans for the apartment project are being reviewed by the Planning and Building Agency and permit issuance is expected to be during the summer of 2018. The effective date of the parking lease will be take place thirty days after the issuance of the Certificate of Occupancy. The long-term parking lease agreement is for a minimum of 36 parking spaces at a monthly rate of $2,160 ($60/space). Should more parking be necessary in the future, the developer has the ability to lease an additional 12 spaces in the structure. During the term of the parking agreement, the City reserves the right to adjust the monthly rates of the agreement in the event of an increase in the number of parking stalls leased or an increase in rates for the general public as determined by the City. STRATEGIC PLAN ALIGNMENT Approval of these items assists the City in meeting Goal #3 — Economic Development, Objective #4 (continue to pursue objectives that shape downtown Santa Ana into a thriving, culturally diverse, shopping, dining, and entertainment destination), Strategy B (create a comprehensive program to manage parking that includes innovative strategies to provide parking, create revenue and enhance accessibility in the downtown). FISCAL IMPACT Funds received will be deposited into the Parking Operations - Spurgeon Structure revenue account (no. 02710002-53904) as follows: 25C-2 Fiscal Year Account Amount FY 2018-19* 02710002-53904 $1,620" FY 2019-20 02710002-53904 $25,920 FY 2020-21 02710002-53904 $25,920 FY 2021-22 02710002-53904 $25,920 FY 2022-23 02710002-53904 $25,920 FY 2023-24 02710002-53904 $25,920 FY 2024-25 02710002-53904 $25,920 FY 2025-26 02710002-53904 $25,920 FY 2026-27 02710002-53904 $25,920 FY 2027-28 02710002-53904 $25,920 FY 2028-29 02710002-53904 $25,920 Total $260,820 25C-2