HomeMy WebLinkAboutCRPS-07-094 - Amendment to Parking License Agreement with Barrel Works Market Residences Inc
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Services
Report To:
Date of Meeting:
Submitted By:
Committee of the Whole
June 25, 2007
Prepared By:
Keith Baulk, Director of Enterprise
Community Services Division
Keith Baulk, Director of Enterprise (ext. 2393)
Fiona M. McCrea, Assistant City Solicitor (2266)
Ward 1
Ward(s) Involved:
Date of Report:
Report No.:
Subject:
June 20, 2007
CRPS-07 -094
AMENDMENT TO PARKING LICENSE AGREEMENT WITH
BARREL WORKS MARKET RESIDENCES INC.
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute an amendment to the Condominium
Parking Agreement, dated March 20, 2002, to include the updated legal description for
the lands involved, adjust the dates for completion in accordance with the previously
agreed to extensions, incorporate the revised fee schedule previously agreed to,
provision for storage lockers and storage rooms that have been constructed and to
clarify the logistics of segregating and assigning parking spaces to the Condominium
residents and visitors, on terms and conditions satisfactory to the City Solicitor.
EXECUTIVE SUMMARY:
The Barrel Works Market Residences residential development is substantially complete. Barrel
Works anticipates registration of the condominium within the next month. Now that the project
is substantially complete and many units have been sold it is necessary to update the Parking
Agreement to reflect the revised time line, what has been built and how the parking below the
Market Block will be administered to meet all parties' ongoing needs.
BACKGROUND:
The City and Barrel Works Market Residences Inc. entered into a Condominium Parking
Agreement on March 20, 2002 outlining the process for allocation of parking within the Market
Parking Garage between Barrel Works and the City. Since that time the construction of Your
Kitchener Market was completed and the Market has now been in operation for 36 months. The
time line for construction of the condominium component was extended by agreement on
December 3, 2004, The condominium is now substantially complete, a majority of the units are
occupied and Barrel Works anticipates registering the condominium within the next two months.
Since March of 2002 and the completion of the various components of the Market Project, City
staff and Barrel works have assessed their actual needs for parking and how best to administer
the segregation and allocation of parking in the garage. The proposed amendments to the
Condominium Parking Agreement address the as-built situation, current needs and
circumstances.
REPORT:
The proposed Amendment to the Condominium Parking Agreement will address the following
matters:
1. The legal description of the areas of the parking garage available for lease to Barrel
Works will be updated to use the registered reference plan;
2. The agreement will provide for the storage lockers and storage rooms constructed in the
parking garage to be leased to Barrel Works;
3. The time line to complete the segregation of the condominium parking area and
determination of the number of parking spaces will be amended to reflect the previously
agreed upon extension of construction commencement and provide for a period of 12
months from the date of registration of the condominium to complete segregation. This
period will provide for final unit sales and final determination of parking space
requirements;
4. The monthly fees for parking spaces will be amended to reflect the adjustment and
phase in of full rates previously agreed to;
5. Any available parking spaces within the segregated condominium parking area will be
available for lease by the City to monthly customers;
6. Various administrative arrangements such as required signage and deposits on
transmitters.
FINANCIAL IMPLICATIONS:
There are no new financial implications arising from this agreement.
COMMUNICATIONS:
Barrel Works Market Residences Inc. is in agreement with the proposed amendments. Staff
from Transportation Planning, Parking Enterprise and the Market are in agreement with the
proposed amendments.
CONCLUSION:
Upon completion of the Market, the Parking Garage and the Barrel Works Residential
development the parties have been able to determine more precisely their respective needs for
parking and the most efficient means to administer the parking arrangements. It has also
become clear that the Condominium Parking Agreement required updating to reflect aspects of
various other agreements that have been reached concerning this project over the past several
years.
Keith Baulk
Director of Enterprise
Fiona M. McCrea
Assistant City Solicitor
c.c John McBride
Tony Konstantinidis
Karen Killen