File #: 18-767    Version: 1 Name:
Type: Action Item Status: Agenda Ready
File created: 2/22/2018 In control: Town Council Meeting
On agenda: 6/4/2018 Final action:
Title: Consideration of Intent to Purchase Public Parking Condominium on 223-241 Mill Street NE
Attachments: 1. Back Elevation Options 02 07 2018, 2. Mill Street Public Parking Condominium-Traffic and Intersection Analysis..., 3. Mill Street Development - Trip Generation Memo Review, 4. Trip Generation Comparison Memo - Mill Street Public Parking and Commercial Building - 9-11-17, 5. Copy of Copy of Mill Management Budget 052318 (Kimberly Sperling's__ conflicted copy 2018-05-23)-1, 6. #55472876v4_Active_ - Tenacity Vienna Mill Street Declaration of__ Condomi... 05 29 2018, 7. #55473253v4_Active_ - Tenacity Vienna Mill Street Condominium__ Bylaws wSDB Edits 05 29 2018, 8. Exhibit E Mill St and Neighbors Site Plan Modifications Draft 05 29__ 2018, 9. #55450557v5_Active_ - Tenacity Vienna Mill Street Purchase and Sale__ Agre... Clean wSDB Edits 05 31 2018-1, 10. Public Hearing Minutes 2-26-2018, 11. Mill Street FAQs Updated 3-15-18_final, 12. 2018_0604_Conceptual Plat R3 06 04 2018, 13. SubExhibit A to Exhibit E Back Elevation Options 02 07 2018
Subject:
Title
Consideration of Intent to Purchase 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 121 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 June 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 solicited public comment on the proposed project at the February 26, 2018 Council meeting.

At this time the contract is in place but the condominium documents are not complete. We are requesting that Council declare an intent to purchase the public parking condominium contingent on completion of the contract and condominium documents.

Departmental Recommendation: Recommend app...

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