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<br />CITY OF SAN LEANDRO <br /> <br />APPROVED AND <br />FORWARDED <br />TO CITY COUNCIL <br /> <br />STAFF REPORT <br /> <br />DATE: <br /> <br />March 9,2007 <br /> <br /> <br />ager <br /> <br />TO: John Jermanis, City Manager <br /> <br />FROM: Cynthia Battenberg;'Rssistant to the City Manager <br />Luke Sims, Business Development Manager -n <br /> <br />SUBJECT: RESOLUTION APPROVING A PARKING AGREEMENT FOR 101 CALLAN <br />AVENUE WITH SL 101, LLC <br /> <br />SUMMARY AND RECOMMENDATION <br /> <br />SL 101, LLC, the new owners of the office and retail building located at 101 Callan Avenue, <br />have requested the City enter into a long~term agreement for parking in order for them to meet <br />the City's parking requirement. A 30-year agreement for the lease of one hundred and eight <br />(108), or more, parking spaces in the Estudillo garage and Hyde Street parking lot was developed <br />to meet this need. Staff recommends City Council approval of the resolution authorizing the <br />City Manager to enter into the Parking Agreement for 101 Callan Avenue with SL 101, LLC. <br /> <br />BACKGROUND AND DISCUSSION <br /> <br />In 1972, the City entered into a long~term parking agreement with the developer who built the <br />office and retail building at 101 Callan Avenue. The parking agreement specified that the City <br />would provide the parking spaces necessary for the building to meet the parking requirement at <br />the time. The parking agreement lapsed in 2000. The owner of 101 Callan Avenue continues to <br />lease parking spaces in the Estudillo garage and, in order to meet the increased need for parking, <br />also leases spaces at the Hyde Street surface parking lot across the street from the garage. <br /> <br />The office building at 101 Callan Avenue is currently in escrow with a projected close date of <br />April 2007. The new owners, SL 101, LLC, have submitted the required documents to convert <br />the four~story, 49,271 square foot office and retail building into 18 individual, for~sale, non~ <br />residential condominium units. The Board of Zoning Adjustments approved the zoning permit <br />for the condominium conversation and a parking exception at their February 2007 meeting. Two <br />items are outstanding and require City Council approval: a Parking Agreement which is before <br />you for consideration; and, the condominium map which is scheduled for the April 2, 2007 <br />Council meeting. <br /> <br />The proposed Parking Agreement is a 30~year agreement with three lO~year options to extend <br />with the consent of the City. Under the agreement, the City will lease a minimum of one <br />hundred and eight (108) parking spaces in the Estudillo garage and the Hyde Street parking lot to <br />SL 101, LLC. In exchange, SL 101, LLC will pay the City a monthly fee for the parking spaces. <br />The monthly parking fee is based upon current the market rate of $55 per unreserved space and <br />