City of Reno
Nevada

Staff Report
6929

Staff Report (For Possible Action): Approval of a Parking License Agreement with RLC First, LLC for five meter parking spaces on Roff Way and up to 65 non-exclusive parking spaces at the Parking Gallery located at 135 N. Sierra Street, APN 011-042-16, Reno, NV.

Information

Department:Public Works - Property ManagementSponsors:
Category:License Agreement

Recommendation and Proposed Motion

Recommendation:  Staff recommends the Board approve the Parking License Agreement with RLC First, LLC and authorize the Chairman to sign.

 

Proposed Motion:  I move to approve staff recommendation.

Staff Report Formal Body

Summary: The Board is asked to approve a Parking License Agreement with RLC First, LLC for the use of five meter parking spaces on Roff Way and up to sixty-five non-exclusive monthly parking spaces at the Agency owned Parking Gallery located at 135 N. Sierra Street, APN 011-042-16.  Staff recommends approval of the Parking License Agreement.

 

Background:  The Agency owned Parking Gallery is located at the corner of First and Sierra Streets in downtown Reno.  It was built in the early 1990s as a redevelopment project to revitalize the downtown area.  The Parking Gallery houses up to five retail spaces on the bottom floor, containing 16,930± of gross leasable space, with 693 parking spaces on the six floors above. The garage currently provides parking for the Agency tenants of the Parking Gallery and West Street Market.  It also provides parking and validations for Washoe County employees and jury members, theater participants, surrounding restaurants and retail, Fitness for $10, First United Church and the Reno Collective.  Staff has verified that even with the number of parking commitments there is still plenty of parking available to provide parking per the terms of the agreement.

 

Discussion:  The Redevelopment Agency and RLC First, LLC have been working on formalizing a Parking License Agreement to provide five parking placards for metered parking spaces on Roff Way on a first come first serve basis and up to 65 non-exclusive parking spaces available within the Agency-owned Parking Gallery, weekdays 6 a.m. to 6 p.m., for use by tenants of Arlington Towers, located at 100 North Arlington Street in downtown Reno, NV.  The proposed agreement is for five years with one three-year option to extend and correspond with the tenant leases, if needed. The Agency will provide RLC First, LLC with five parking placards for metered parking spaces on Roff Way at $47 per placard per month and up to 65 parking access cards at a monthly rate of $1 per month per space for the first 50 spaces and $47 per month for any additional parking space per month up the 65.

 

The fee will be billed to RLC First, LLC on a monthly basis.  The parking spaces provided will be on a first-come-first-served basis and the agreement provides a 90 day termination cause for either party.

 

Financial Implications:  The Parking License Agreement could generate up to $59,400 over the five year term of the agreement if all spaces are used and up to an additional $118,440 over the three year option to extend, if exercised.  The net revenues of the parking gallery are pledged to Agency debt.

 

Legal Implications:  Legal review completed for compliance with City procedures and Nevada Law.

 

Meeting History

Jul 27, 2016 10:00 AM Video Reno City Council & Redevelopment Agency Board Joint Regular

The Board upheld the staff recommendation.

RESULT:APPROVED [UNANIMOUS]
MOVER:Neoma Jardon, Councilmember
SECONDER:Oscar Delgado, Councilmember
AYES:Hillary Schieve, Jenny Brekhus, Naomi Duerr, Oscar Delgado, Paul McKenzie, Neoma Jardon
ABSENT:David Bobzien