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HomeMy WebLinkAboutDTS-10-110 - Bramm Street Yard Temporary ParkingJ I~r~rci`~,~~R Devefvpment & Technical Services REPORT TO: Council DATE OF MEETING: May 17, 2010 SUBMITTED BY: John McBride, Director Transportation Planning Rod Regier, Executive Director Econmic Development PREPARED BY: John McBride (741-2374) WARD(S) INVOLVED: West Ward 6 DATE OF REPORT: May 17, 2010 REPORT NO.: DTS-10-110 SUBJECT: Bramm St Yard Temporary Parking RECOMMENDATIONS: "That Council approve the development of temporary public parking in the Bramm St Yards upon the relocation of City Operations to the Central Maintenance Facility; and further, That the development of this parking would occur in approximately mid 2011; and further, That the parking rates would be based on the remote parking lot rate, currently set at $81.99 plus taxes per space per month; and further, That the Mayor and Clerk be authorized to execute an agreement with Francis Street Inc. for the provision of parking at City facilities ending December 2020, said agreement to be to the satisfaction of the City Solicitor." BACKGROUND: The redevelopment of the Tannery and the related high-tech businesses moving in, have created an immediate need for up to 200 parking spaces in the west end of the core. Initially they will be accommodated in the Charles & Benton Parking Garage, but the distance from the work location, the higher monthly cost and the longer term need of those spaces for Court related parking only provides approximately a one year window of use. REPORT: The closure of the Bramm St Yards in 2011 creates an opportunity to develop surface parking as an interim use to accommodate a growing demand for long term parking in the west end of the core. The Bramm St Yards are large enough to develop a significant number of spaces over time as demand increases and until such time as the Bramm St Yards are redeveloped. As outlined on the attached site plan, Lot A is proposed to be developed on the parcel fronting on Joseph Street. This parcel can accommodate up to 260 parking spaces and will be developed in 2011. Lot B, in the area north of Bramm Street can also accommodate approximately 260 vehicles and will be developed in 2012 or upon sufficient demand for additional parking. Lot C, located between Bramm Street and Park Street, can accommodate approximately 350 vehicles. It will be developed as demand warrants or as Lots A or B are required for redevelopment purposes. Ultimately a parking structure is anticipated on the Charles & Water St property that will satisfy the long term parking needs of a number of properties in the area. However, until sufficient partnerships can be developed, the appropriate compatible land use determined and funding sources secured, the development of the Bramm St Yards for temporary surface parking is the only reasonable option to meet the immediate parking needs. The immediate benefits of developing temporary parking on Bramm St are that it will support continued employment growth in the Warehouse District, it will effectively use the Bramm St property until such time as it is redeveloped, it will support the continued diversification of the urban economy and it is supportive of the Central Transit Corridor. In order to assist in accommodating a portion of the immediate parking needs of Francis Street Inc. (The Tannery) up to 200 parking spaces will be located in the Charles & Benton Parking Garage, anticipated to be opened in the fall of this year. These spaces would be leased at the City's current monthly market rate as established by Council from time to time until the City has other parking spaces available in Bramm St Once the Bramm St Yard spaces are available in the fall of 2011, the lease of 200 spaces to Francis St Inc will be transferred from the Charles & Benton Garage to Bramm St Lot A. This lease will be in place until 2020 and these spaces would be leased at the City's monthly remote lot rate as established by Council from time to time. Parking demand from other properties in the west end of the core may also be accommodated on the Bramm St lands until such time as a parking structure is developed to meet these long term needs. FINANCIAL IMPLICATIONS: Development costs have been estimated at approximately $250,000 for Lot A and a similar amount for Lot B. Funding for the development of the Bramm St Yards parking will be taken from the $500,000 EDIF allocation for Digital Media and will be repaid with interest from net parking revenues. 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