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JT Public Hearing - <br />First Implementation Agreement <br />And Amendment to Variance No. 1998 -06 <br />Saint Joseph Ballet <br />December 19, 2005 <br />Page 2 <br />enhanced the overall success of the City's arts and culture corridor <br />along Main Street. As part of the August 1998 official actions, shared <br />parking arrangements were initiated with Bowers Museum. To ensure that <br />parking was readily available for the SJBC project, as well as Bowers <br />Museum, a joint parking lease agreement was approved that established the <br />rights and responsibility for use of the Agency -owned parking lots south <br />of Bowers and west of Kidseum and SJBC (see Exhibit A). That agreement <br />assured that both parties would be able to use either lot and would <br />coordinate to ensure that special events are not held on the same date <br />and time to avoid parking shortfalls. The agreement also provided that <br />the Agency would retain development rights to the lots so long as <br />replacement parking is provided within a reasonable distance of the <br />facilities. <br />The Bowers Museum expansion, which is now underway, involves a 30,000 <br />square foot building expansion and a new surface parking lot. The new <br />parking lot will be developed on three parcels of property located <br />immediately north of the existing facility. The property is currently <br />owned by the Steadfast Communities. A land exchange between the City and <br />Steadfast Communities will be facilitated in order to provide parking for <br />the expanded Bowers Museum and to develop Steadfast's mixed -use luxury <br />housing project. The site on which the Steadfast project will be <br />developed is currently owned by the City /Agency and used as the main <br />parking lot for Bowers Museum and SJBC. <br />The First Implementation Agreement addresses the loss of parking at <br />Bowers Museum's existing south parking lot as a result of the proposed <br />land exchange between the City and Steadfast. Under the implementation <br />agreement, SJBC will receive 50 parking spaces in the new north parking <br />lot under the same provisions as its current 50 -space allocation in the <br />existing Bowers south parking lot. Additionally, the Agency will grant <br />SJBC fee simple title to the two parking lots behind Kidseum and SJBC for <br />$1.00, with the exception of the row of parking immediately adjacent to <br />the Kidseum and east of the north /south alley between 18th and 19th <br />Streets. SJBC will then lease the property back to Kidseum under the <br />same terms and conditions that presently exist for shared parking. <br />Lastly, the Agency will allow SJBC the first right of offer and the first <br />right of refusal to purchase the Kidseum property at any time in the <br />future if the City and Bowers no longer desire to operate a Kidseum <br />and /or museum programs in the Kidseum facility. <br />4— <br />