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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 11/21/2000 - POSTPONEMENT OF SECOND READING OF ORDINANCE NO. 16 AGENDA ITEM SUMMARY ITEM NUMBER: 14 FORT COLLINS CITY COUNCIL DATE: November 21, 2000 FROM: Gary Diede SUBJECT: Postponement of Second Reading of Ordinance No. 165, 2000, Approving the Restated and Amended Parking Agreement and Amendment to the Downtown Development Authority Agreement Regarding the Opera Galleria. RECOMMENDATION: Adoption of the Consent Agenda will postpone Second Reading of this Ordinance until December 19, 2000. EXECUTIVE SUMMARY: In 1994 the City of Fort Collins entered into an agreement with the Opera Galleria property owner that entitled the Opera Galleria to purchase a number of parking permits in the Laporte- America Lot adjacent to the property, as well as the Block 31 Lot and the Old Town Parking Structure. The current owner of the Opera Galleria, Ed Orr of Opera Galleria, LLC, requested that the City of Fort Collins amend and restate the original agreement to reflect that the Laporte 10 America Lot was replaced by the Civic Center Parking Structure and that the Block 31 Lot is no longer available for permit customers, and to allow for monthly payment for the permits (rather than annual). Ordinance No. 165, 2000, was unanimously adopted on First Reading on November 7, 2000. Since that time further negotiations on the agreement have continued but have not yet been completed. Consequently, Second Reading of this Ordinance is being postponed until December 19, 2000 to allow additional time to complete negotiations. AGENDA ITEM SUMMARY ITEM NUMBER: 23 FORT COLLINS CITY COUNCIL DATE: November 7, 2000 10 STAFF: Gary Diede SUBJECT: First Reading of Ordinance No. 165, 2000, Approving the Restated and Amended Parking Agreement and Amendment to the Downtown Development Authority Agreement Regarding the Opera Galled a. RECOMMENDATION: Staff recommends adoption o ek.. .- ce o i t R Y FINANCIAL IMPACT: The Opera Galleria, LLC will pay the current rate for any parking permits purchased under this agreement, but will do so on a monthly, rather than annual, basis. The Opera Galleria will continue to make payment to the City in lieu of taxes if tax revenues to the City from the Opera Galleria Project fall below spe ' e v the greement. EXECUTIVE SUMMARY: In 1994 the City of Fort Collins entered into an agreement with the Opera Galleria property owner that entitled the Opera Galleria to purchase a number of parking permits in the Laporte- America Lot adjacent to the pro as 11 as e Bl c 31 t and the Old Town Parking Structure. The current owne the ra AofApera Galleria, LLC, requested that the City of Fort Collins end an estat nal a ement to reflect that the Laporte America Lot was replaced by Civ' me ar ng Struc a and that the Block 31 Lot is no longer available for permit customers, an o allow or mont y payment for the permits (rather than annual). The proposed amendments to the original agreements maintain the City's original position and provide the Opera Galleria with the same rights to purchase permits for tenants of the building.