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Agreement with ABM for Municipal Parking Facilities Operator
<br />December 7, 2021
<br />Page 4
<br />Historically and due to practicality, the parking operator serves as the auxiliary for the City
<br />in managing the entirety of the parking facilities including repairs, maintenance, and
<br />equipment management, as well as collecting parking revenue, processing operational
<br />expenses, and submitting net income payments to the City on a monthly basis.
<br />ABM Parking Services will be required by the City to provide detailed financial reports
<br />with supporting invoices for all expenses. The City reserves the right to disallow expenses
<br />that are ineligible or exceed $500 without prior written approval by the City. The annual
<br />expenses are projected to be $1,059,540 with a projected annual CPI increase of 5% (at
<br />the City's discretion and negotiation). The annual revenue is projected to be $1,796,410.
<br />The estimated annual revenue is projected to cover the operational costs of the parking
<br />facilities and allocate funds for several deferred maintenance items and augmented
<br />services. Please note that the expenses and revenue are projections and may fluctuate.
<br />Below is an excerpt of the agreement's budget with expense and revenue projections for
<br />the initial 5-year term and the optional five one-year extensions.
<br />ABM Parking Operator
<br />5 Year Budget Overview + Optional Year Budgets
<br />Downtown Santa Ana Parking Facilities: Space 1892+/-
<br />Agreement Years 1-5
<br />Estimate Expenses
<br />Projected Illevenue
<br />Year 1
<br />$1,059,540
<br />$1,796,410
<br />Year 2
<br />$1,112,517
<br />$1,796,410
<br />Year 3
<br />$1,168,143
<br />$1,796,410
<br />Year 4
<br />$1,226,550
<br />$1,796,410
<br />Year 5
<br />$1,287,878
<br />$1,796,410
<br />Optional Years 6-10 (if
<br />approved by the City)
<br />EstimateProjected
<br />Illevenue
<br />Year 6
<br />$1,352,272
<br />$1,796,410
<br />Year 7
<br />$1,419,885
<br />$1,796,410
<br />Year 8
<br />$1,490,880
<br />$1,796,410
<br />Year 9
<br />$1,565,424
<br />$1,796,410
<br />Year 10
<br />$1,643,695
<br />$1,796,410
<br />Total Year 1-10
<br />Estimate Expenses Year 1-10Projected
<br />Illevenue
<br />$13,326,785
<br />$17,964,100
<br />Imoortant Note: The annual expenses are proiected to start at $1.059.540.37 with a proiected annual CPI
<br />increase of 5% (at the City's discretion and negotiation). The annual revenue is projected to be $1,796,410
<br />and is programmed to cover the operational costs of the parking facilities and allocate funds for several
<br />deferred maintenance items and augmented services. Please note that expenses and revenue are
<br />projections and may fluctuate.
<br />City Council 14 — 4 12/7/2021
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