Title
Consider and take action on a resolution authorizing a professional services agreement with The Goodman Corporation for an amount not to exceed $147,500 to obtain a Letter of No Prejudice for the 144 Park Avenue Parking Garage/Transit Center and authorizing an Owner's Contingency Budget for an amount not to exceed $12,500 (Deputy City Manager)
Background:
Approval of this resolution, will authorize staff to execute the professional services agreement with The Goodman Corporation to obtain a Federal Transit Administration Letter of No Prejudice (LONP) to help match and obtain Federal funding to support the Main Street Project and develop a parking garage on City property located on the southwest corner of Main Street and Park Avenue (144 Park Avenue).
The LONP is a critical step in the redevelopment of this strategic property located in the heart of the Main Street Project. Obtaining the LONP will open doors for the City to become eligible for a number of Federal Transit Administration (FTA) programs that can lead to federal participation in the Main Street redevelopment project and more importantly the redevelopment of this strategic corner. If a LONP is obtained, early estimates indicate approximately $2.5 million of the Main Street project and a large portion of a parking garage/transit center and shell retail space could be eligible for FTA participation. While a part of the study is to develop and validate transit parking, and retail demand; we would anticipate development of a parking structure with approximately 300 spaces and between 30,000 and 45,000 square feet of additional shell retail space.
The attached proposal outlines The Goodman Corporation’s work plan which is anticipated to take 6 to 8 months from their notice to proceed. While this project was not included in the formal capital improvement budget, staff is proposing funding the 144 Park Avenue Parking Garage/Transit Center in the amount of $160,000 (base contract and contingency...
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