City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 19, 2017
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
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Consideration of a Proposal to Modify and Extend the Public Parking Agreement at 115 South Union Street to 2047. (This item is not a public hearing item.)
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ISSUE: Consideration of a proposal to modify and extend the 1987 public parking agreement at 115 S. Union Street with 115 South Union CMB-GME, LLC, the current owner of 115 S. Union St.
RECOMMENDATION: That the City Council authorize the City Manager to enter into an amendment to the agreement dated January 16, 1987 between 115 South Union CMB-GME, LLC, successor in interest to Bloomvale, Inc., and the City of Alexandria to modify and extend that public parking agreement through 2047 to protect and enhance the public's long term access to parking at 115 S. Union St.
BACKGROUND: In 1987, the City of Alexandria entered into a public parking agreement with the developer of 115 S Union St. to construct an additional eighteen (18) parking spaces as part of a new office building project. This agreement required the building owner to set aside thirty-eight (38) parking spaces for hourly, transient, and daily parking at all times and make all one hundred (100) parking spaces available for hourly and transient parking on nights and weekends in exchange for $200,000 (about $438,000 in today's dollars) from the City of Alexandria. Without action by the City, this agreement will expire in 2027.
The conversion of 115 S. Union St. from an office building to a boutique hotel will change the utilization of the parking garage, requiring an amendment to the parking agreement. This change of building use also gives the City the opportunity to extend this agreement and protect the access to public parking for a significantly longer term.
In the proposed new ...
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