11/28/1990 Meeting - Laserfiche WebLink

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e Responding to a question from Mr. Rutan, Mr. Bowers said that the interest from the private sector in purchasing this garage has been exploratory thus far. Mr. Nicholson asked how the City would benefit from selling the parking structure verses keeping the structure and raising parking rates. Mr. Bowers responded that because of past council policy on parking rates, it is unclear how persons would react to increased parking rates. Mr. Robinette asked about the tax benefits the City would receive as a result of making this a private structure as compared to what it receives now at the present parking rates. In response, Abe Farkas, Planning and Development Director, said that depending on assessment, the City would receive approxi- mately $30,000 for every million dollars of assessed value. This money re- ceived from the sale would go into the tax increment district enhancing the district's bonding capacity. Responding to a request for clarification from Mr. Green, Mr. Bowers said that business owners in this area who rely on the Overpark for parking have voiced concern with the sale, noting that increased in parking rates would be equivalent to increased rental rates. Mr. Boles said that he is not interested in selling the Overpark at this time. Mr. Rutan concurred. e Responding to a question from Mr. Nicholson, Mr. Farkas said that the sale analysis was done prior to Measure 5. The amount which could be received from the sale presently is uncertain. After discussion, the council agreed that it was not interested in proceeding forward with a sale of the Overpark parking structure. The meeting adjourned at 1:30 p.m. Respectfully submitted, ~/~-rl Micheal Gleason City Manager (Recorded by Traci Northman) mncc 112890--1130 e MINUTES--Eugene City Council November 28, 1990 Page 10