Subject:
Title
Public hearing to discuss Town's purchase of public parking condominium on 223-241 Mill Street NE
Body
EXPLANATION AND SUMMARY:
The Town has been exploring the possibility of establishing a public parking facility or facilities in the Church Street C-1B Pedestrian Commercial Zone for some time. Recently the Town was approached by a developer who had purchased a parcel at 223-241 Mill Street NE, approximately a half block off of Church Street NW. The developer has proposed selling the Town the second floor of a new four-story development for public parking; the sale would be structured as a condominium ownership. Town and developer representatives have discussed the Town's parking requirements as well as design integration of a parking floor into the proposed building and have come to an understanding of general design terms as well as a proposed turnkey contract price of $4.6 million for approximately 127 parking spaces.
In the interim, the Town was informed by the Northern Virginia Transportation Authority (NVTA) of the existence of transportation grants that support public parking. The Town would be required to restrict 50% of spaces in a funded parking facility for a portion of the day for Metro/bike path/carpool parking in order to be eligible for an NTVA grant of 50% of project costs. The Town applied for a 50% grant for this parking structure and will learn by May 2018 if the grant has been awarded.
The project will be funded by a separate bond issue in the summer of 2018 for costs not covered by the NVTA grant, should the Town receive that grant.
Town Council approved setting a public hearing for this project at its January 29, 2018 Council meeting.
This is a public hearing to allow comment by citizens and business owners on the proposed purchase of a public parking condominium at 223-241 Mill Street NE.
Town Council is scheduled to consider the purchase at its March 12, 2018 Council meeting.
Departmental Recommendation: Rec...
Click here for full text