02/20/1979 - Laserfiche WebLink

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DOWNTOWN PARKING GARAGE . The Executive Director reported that the Agency had previously authorized Mr. Richard Botti of Keyser Marston Associates to prepare a report as to the feasibility of a parking garage in the downtown. The Executive Director stated that the report has been completed, and introduced Mr. Botti. . Mr. Botti reviewed his report stating that the optimum location for the parking garage is between Fourth and Third, Broadway to Main. The cost to develop the garage would be approximately $3,100,000 for a minimum of 413 parking spaces. Mr. Botti recommended that the garage be financed under a joint public/private partnership, where the property owners are responsible for financing a portion of the construction costs through an assessment district and the City and Redevelopment Agency be responsible for operating the garage. Mr. Botti stated that based on estimated construction costs, garage revenues and a $1,300,000 contribution by the City and Redevelopment Agency toward the development costs, cash projections indicate the maximum property owners assessment will be $125,000 annually. During the initial five years, he assumed that the assessment would be low to reduce the initial burden to the property owners. The average contribution by the City and Redevelopment Agency is less than $30,000 annually over the 25 year life of the bonds. Offsetting this annual cost is the increase in business tax and property tax resulting from the construction of the garage and other redevelopment activities. This revenue is estimated at $20,000 to $25,000 per year. Mr. Botti recommends constructing the garage and considers the parking garage to be an essential element of a comprehensive revitalization program for downtown Santa Ana, and feels that the construction of the garage, together with the cooperative spirit of the property owners in financing the garage and continued rehabilitation activities sponsored by the Agency, will greatly enhance the long term economic growth of downtown Santa Ana. The Chairman stated that he had five requests from the public to speak regarding the parking garage. The following downtown businessmen and property owners addressed the Agency stating their support for the parking garage, and how they felt the garage would benefit the downtown: . Richard Beem, Robert's Portraits on Fourth Street Denny Milburn, 219 West Fourth Street, businessman associate of Robert Heath Robert Heath, 206 W. Fourth Street, Suite 410 Dave Williams, Director, Santa Ana City Center Association Dave Flaherty, Davis Stationers, 114 West Fourth Street and The businessmen feel that the downtown parking garage is a step in the right direction, and that it would indeed help their businesses by providing parking so that they can lease out their second floor space, as well as a good start to upgrade downtown Santa Ana and attract more businesses. They are also very willing to pay the assessment on their properties. Mr. Flaherty asked the members of the audience in support of the downtown parking garage to stand up. Approximately 30 people stood up in support of the downtown parking garage. Mr. Ward stated that this was the first time that he had seen the businessmen come to the Agency meeting and support a project they were participating in, and that he was quite pleased. . The Executive Director showed a map of the general area in the -3-