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Agreement with ABM for Municipal Parking Facilities Operator
<br />December 7, 2021
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<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 Estimate Expenses Projected Revenue
<br />Year 1 $1,059,540 $1,796,410
<br />Year 2 $1,112,517 $1,796,410
<br />Year 3 $1,168,143 $1,796,410
<br />Year 4 $1,226,550 $1,796,410
<br />Year 5 $1,287,878 $1,796,410
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<br />Optional Years 6-10 (if
<br />approved by the City)Estimate Expenses Projected Revenue
<br />Year 6 $1,352,272 $1,796,410
<br />Year 7 $1,419,885 $1,796,410
<br />Year 8 $1,490,880 $1,796,410
<br />Year 9 $1,565,424 $1,796,410
<br />Year 10 $1,643,695 $1,796,410
<br />
<br />Total Year 1-10 Estimate Expenses Year 1-10 Projected Revenue
<br /> $13,326,785 $17,964,100
<br />Important Note: The annual expenses are projected to start at $1,059,540.37 with a projected 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.
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