In a report to be reviewed Thursday by the Belmont Shore Parking and Business Improvemnt Area Commission, the city staff suggests that they're dusting off the plans for the Park Avenue parking lot. The staff report is below:
SUBJECT: Receive and file report on 189 Park parking lot purchase schedule and process.
DISCUSSION
The Belmont Shore Parking and Business Improvement Area Advisory Commission (BSPAC) in 2007 recommended the city investigate purchase of a parcel on Park Avenue south of Second Street for the purpose of providing public parking in the business district.
The subject property is zoned R2S but is paved and striped for 25 parking spaces with a privately operated payment kiosk. According to the Lidgard and Associates property appraisal dated June 2007, the two parcels occupy 5780 square feet and were valued at that time around $1,545,000.
According to Deputy City Attorney Heather Mahood, there is no conflict of interest resulting from the city's purchase of the lot from former City Councilman Frank Colona. Mr. Colona holds no position on the BSPAC, the advisory body recommending the purchase, though he is a commercial property owner and subject to the community facilities district assessment that will fund bond payments on purchase of the lot.
The BSPAC further recommended the city purchase the lot by restructuring the existing sidewalk improvement bond to provide funds for the purchase of the lot and to resurface the commercial alleys. Payments on the new bond would be made from parking meter revenue and community facilities district revenue.
City staff has completed the necessary steps of reforming the CFD and gaining City Council approval to issue bonds for the projects. After a delay due to poor bond market conditions, it is anticipated bond proceeds will be on deposit with the city in early December 2009.
Purchase of the lot, however, is dependent upon negotiation of price and terms acceptable to both the owner and the city.
Due to the time lapse since originally discussed, city staff will be initiating contact with the owners to explore continued interest in sale of the property and begin negotiations, as appropriate. Commissioners are reminded they are not empowered to represent or negotiate on behalf of the city. Staff will conduct all negotiations ...
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