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Home My WebLink About1988-08-01; Traffic Safety Commission; ; Review and comment on the Redevelopment Parking PlanCITY OF CARLSBAD TRAFFIC SAFETY COMMISSION COMMISSION REPORT OF: August 1, 1988 ITEM NO._filL_ LOCATION: Downtown Carlsbad INITIATED BY: Housing and Redevelopment Director REQUESTED ACTION: Review and comment on the Redevelopment Parking Plan. BACKGROUND: DATA: Several months ago the Carlsbad City Council approved the Downtown Streetscap e Project for Elm Avenue and Carlsbad Boulevard. A raised median will be co nstructed as part of the Elm Avenue project which will require removal of the existing parallel parking along Elm Avenue between Harding Street an d Carlsbad Boulevard. Council directed the Housing and Redevelo pment Director to acquire off-street replacement parking prior to beginni ng construction. Property has been acquired for lease at 3045, 65 and 67 State Street, which will prov i de 16,087 square feet of parking. It has been estimated that this property will accommodate a design of approximately 54 parking spaces. RECOMMENDATION : The Traff ic Safety Coordinating Committee recommends that this item be provided f or review and comment by the Traffic Safety Commission as the City Co unc il has adopted Resolution No. 110 approving the lease of the subject property. JUNE 29, 1988 TO: TRAFFIC ENGINEER FROM: Housing and Redevelopment Director PARKING PLAN FOR PEDESTRIAN AND TRAFFIC SAFETY COMMITTEE As we discussed, please add the Redevelopment Parking Plan to the agenda for the Pedestrian and Traffic Safety Committee. The agenda bill that was presented to Housing and Redevelopment Commission (City Council) with supplemental i nformation is attached. Please let me know when this item will be scheduled so that I may attend t h e meeting. Thanks for y our assistance. CHRIS SALOMONE CS:PC:ec c: Community Development Director City Engineer JUi~ 8 0 1988 z 0 .. z 0 HOUSING ANL AEDEVELOPMENT COMMIS~,ON -AGENDA BILL AB# 104 TITLE: 0 ---. DEPT. HO. __ MTG. 6/21/88 DEPT.-'R=E=D=---- RECOMMENDED ACTION: APPROVAL OF LEASE FOR PARKING LOT ON STATE STREET CITY ATTY_~ CITY MGR.~ If Commission concurs, your action is to adopt Resolution No. 110 approving a lease between the City and Ms. Jean Baumgartner for property located at 3045J65 & 67 State Street. ITEM EXPIANATION: As part of the Elm Avenue/Carlsbad Boulevard Streetscape, Commission directed staff to secure replacement parking on/near Elm Avenue to replace spaces that will be lost. Ms. Baumgartner, owner of the property at 3045, 65 & 67 State will lease the site to the City for a parking lot. Staff has met with the Village Merchants parking sub-committee, who enthusiastically support parking at this location. The site is 16,087 square feet. Preliminary estimates by the City's traffic consultant are that the lot will accommodate 54 parking spaces. The lot will be combined with the leased parking lot to the west in order to accommodate through traffic. Lease payments would be $3,085 monthly, for an annual cost of $37,025 {$.21 per square foot}. The property has been appraised to establish this cost as a fair rate of return. Terms will be for twenty (20) years with a first right of refusal to purchase the property at the end or at any prior time agreed upon by the City and the owner. The Commission needs to authorize the Mayor to execute the lease documents, FISCAL IMPACT: When the Redevelopment Commission structured the Tax Allocation Bond Issue, one of the projects considered was the creation of parking along Elm Avenue. Approximately $1.5 million was to be allocated to this project. The lease under consideration in this action would require the use of approximately $400,006 of these funds. This would include a cost of living increase every three years. The cost to the Redevelopment Agency has been calculated by establishing the present value of the stream of lease payments over a 20 year time period at 7% interest. Under this concept, the Redevelopment Agency would pull $400,000 from the Tax Allocation Bond Issue construction Fund and set those funds aside to pay future lease payments over the next 20 years. These funds, along with interest earned over that time, would provide the necessary cash flow to pay the lease payments over the life of this agreement. AGENDA BILL f 104 PAGE 2 Cost to demo the site would be approximately $4,000. Construction costs of the parking lot would be approximately $60,000. No relocation costs are anticipated. After lease and construction of this lot, there would be approximately $1,036,000 available for future parking improvements. EXHIBITS: 1 -Resolution No. 110 Approving Lease for Parking Lot on State Street 2 -Analysis of Lease Payments 3 -Memo to Housing and Redevelopment Commission dated June 8, 1988. l 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 11 RESOLUTION NO: 110 A RESOLUTION OF THE HOUSING AND REDEVELOPMENT COMMISSION OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING A LEASE FOR PROPERTY AT 3045.65 AND 67 STATE STREET WHEREAS, the Housing and Redevelopment Commission of the City of Carlsbad has determined it necessary and in the public interest to construct a parking lot at 3045, 65 and 67 State Street; and WHEREAS, the Commission desires to lease property from Mrs. J ean Baumgartner; NOW, THEREFORE, BE IT HEREBY RESOLVED by the Housing and Redevelopment Commission of the City of Carlsbad as follows: 1. 2. 3. That the above recitations are true and correct That the property lease attached hereto as Exhibit A is hereby approved That the Chairperson is hereby authorized to sign said lease on behalf of the City. PASSED, APPROVED AND ADOPl'ED at a regular meeting of the Housing and Redevelopment Commission of the City of Carlsbad, California, held on the 21st day of June, 1988, by the following vote, to wit: AYES: Council Members Lewis, Kulchin, Pettine & Larson NOES: None ABSENT: ABSTAIN: Council Member Mamaux ATTEST: ALETHA L. RA~ Clerk CU,7;(,..,,?R~ -------,--.................. LOCATION MAP PROPOSED LEASED SITE .. > I"\ ~ I"\ ,i, - 1¼ 0 ·\\ n !!( '.', ....... .., . ,I ; l ...... ,__ r--'.-t E~t_ .J S E]q~ BAUMGARTNER PROPERTY 3045, 65 AND 67 STATE ST. SITE . \, June 8, 1988 TO: FROM: HOUSING AND REDEVELOPMENT COMMISSION Housing and Redevelopment Director PROPOSED PARKING PLAN FOR ELM AVENUE/CARLSBAD BOULEVARD STREETSCAPE EXHIBIT 4 The proposed lease of property at 3045, 65 and 67 State Street is the first in a series for lease/purchase/agreements that will be presented to the Commission. The current sites being considered, including the Baumgartner lease, are as follows: NAME/OWNER LOCATION PARKING SPACES Baumgartner 3045 State Street 54 AT&SF Right-of-Way West of Railroad, north of Oak 36 Depot Redesign 400 Elm Avenue 11 Sonny's 561 Elm Avenue 16 Union Church 3021 Harding Street 80 TOTAL 197 Other sites are being reviewed/analyzed for possible parking lots which will be presented to the Commission. (L CHRIS SALOMONE CS:PAC:al Attachment 0 ('\ ... > z I J' '' 'I LOCATION MAP PR.OPOSED PARKING PLAN N-•" ' i I I , . ' a : c, ...... ~ l -----· ..