Item 28 - Agreement with County of Orange for Parking Lease at 420 N Main Street

Home Browse Search

Community Development Agency santa-ana.org/cd Item # 28 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report June 15, 2021 TOPIC: Agreement with County of Orange for Parking Lease at 420 N Main Street AGENDA TITLE: Approve an Agreement with County of Orange for a Parking Lease at the 420 N Main Street Parking Structure RECOMMENDED ACTION Authorize the City Manager to execute an agreement with the County of Orange to lease 40 parking spaces at the City-owned parking structure at 420 N Main Street, for a five- year term from August 1, 2021 to July 31, 2026, with an option to extend for an additional five-year term, in the amount payable to the City’s designated parking operator in the amount of $2,000 per month, subject to non-substantive changes approved by the City Manager and City Attorney. DISCUSSION Since April 1998, the County of Orange has leased 40 parking spaces at the 420 N Main Street (5th and Main) parking structure from the City at the fair market monthly rate of $2,000 per month ($50 per space). The County wishes to enter into a new lease agreement at the same rate for a five-year term with an option to extend for an additional five year term for these 40 parking spaces. These parking spaces will continue to be used by County employees located within close vicinity from the parking structure. The City of Santa Ana will reserve the right to adjust the monthly parking rates in the event of an increase in rates for the general public at the parking structure as determined by the City, provided a 30-day written notice. Either party may terminate the agreement with a 30-day written notice. FISCAL IMPACT County of Orange will remit monthly payment to the City’s parking operator. The Parking Operator submits net revenue for this parking structure to Fund 27 - Parking Operations – Main Parking Structure “D” revenue account (no. 02718002-53906).