ORANGE, COUNTY OF (26) - Laserfiche WebLink

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1 No free parking shall be provided within the area bordered by Civic Center Drive on the north, Sixth Street on the south, Flower Street on the east and Shelton Street an the west. 3 25. The monthly, daily, and 'hourly parking rates for all Civic Center parking 4 facilities shall, as a minimum, be subject to an adjustment on the second and subsequent even -numbered anniversary dates of this agreement. Said adjustment shall 5 be proportionate to the change in the Consumer Price Index for Los Angeles -Anaheim Riverside (All Urban Consumers - All'Items) as promulgated by a the Bureau of Labor 6 Statistics of the United States Department of Labor for the period of time between the execution date of this agreement and the adjustment date, Said adjustments shall ,;.• 7 become effective on the adjustment date, which shall be the second and subsequent even -numbered anniversary dates of this agreement, l' •Parking'rate adjustments shall be calculated by means'of the following formula; R A x' (8 - C) 10 Where': R = Adjusted Parking Rate 11 A = The parking rate which is subject to adjustment B = Monthly,index for the fourth month prior to the month in which the ` 12 " adjustment is to become effective C r Monthly index for the fourth month prior to the month in which this .,S agreement was executed'by County. 1� In the event the Consumer Price Index is not issued or -published 'for the period for :, which 'an adjustment is required, or the Bureau of Labor Statistics should cease to;•, 15 publish said index figures, then any similar index published by any other blanch or, .: department.of the United States Government shall be used and, if none is so published, j6 then. another index generally recognized as authoritative shall be used by agreement••' between CITY and COUNTY. 17 All 'hourly adjustments'made pursuant to the above formula shall be rounded to the'.:,. 18 nearest five cents (TQ.05). All daily adjustments *shall be rounded to the nearest':.' I twenty-five ($O.25). All monthly adjustments shall be rounded to the nearest one 19 dollar (11.00). 20 Notwithstanding any of the foregoing, Civic Center parking fees may be adjusted at"•" other times by other methods by mutual written agreement of CITY and COUNTY. 21 26.. Upon commencement 'of operations of the Phase 1 Facilities and provided further 22 development of parking facilities is determined to be warranted and feasible, CITY and COUNTY shall commence development of additional parking.facilities.,in a manner 28 consistent with the terms and conditions of this Agreement. As provided in the MOU such development may occur on one or more of the following sites, or on such other, 24 sites as CITY and COUNTY may mutually agree upon: 25 a, the present surface parking lot south of Santa Ana City Hall (MOU site No.X3) 26 b, the present surface parking lot west of County's Hall of Administration (MOU. site No. C COUNTY agrees that all Parking Revenues derived from this site shall 27 be applied to the debt service and maintenance requirements of the Civic Center 'at such time as this Site is further developed, 28 GS:da:sf •0599w»8 4- i2-4-07