Posted Sep 6, 2011, 2:47 AM
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Join Date: Jul 2010
Location: #dtphx
Posts: 175
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Why the hell aren't they building this on 7th Street, which is a de facto highway and already in no way pedestrian friendly? Why would they build this on 5th Street which could have been, before this monolithic 60,000 sqft parking garage, a pedestrian-rich area? This will contribute to creating a wall between the PBC and the community. Idiots Idiots Idiots.
Quote:
Downtown, Aviation and Economy Subcommittee, September 7, 2011, Item 7.
CITY COUNCIL REPORT
TO:
Rick Naimark
Deputy City Manager
FROM:
Paul Blue
Community and Economic Development Director
SUBJECT:
AUTHORIZATION TO ENTER INTO AGREEMENTS WITH THE BOYER COMPANY FOR THE PRIVATE DEVELOPMENT OF A PARKING STRUCTURE ON THE PHOENIX BIOMEDICAL CAMPUS
Staff requests the Downtown, Aviation and Economy Subcommittee recommend City Council authorization to enter into Agreements with The Boyer Company (Boyer) for the private development and financing of a parking structure to serve the Phoenix Biomedical Campus (PBC).
THE ISSUE
Since the original development of PBC, the surface parking has been sufficient for the campus. The City’s approved PBC Master Plan has always anticipated the need for parking structures to serve the campus. Developing a parking structure will be critical to the operation and success of the recently developed Health Sciences Education Building and the pending development of the Arizona Cancer Center and the Phoenix Biomedical Research Center. In January 2010, City Council authorized staff to issue a Request for Proposals (RFP) and to negotiate business terms for the private development of a parking structure to serve the PBC.
In February 2011, staff issued the RFP for a parking structure to be located on an approximately 60,000 square foot City-owned site located at the southeast corner of Fillmore and 5th streets on the PBC. Staff received six proposals in response to the RFP. The review panel, which included urban parking experts, TGen, IGC, University of Arizona and City staff, unanimously recommended The Boyer Company.
In August 2011, a Letter of Intent (LOI) with Boyer was executed for the private development, financing, leasing and management of an approximately 1,250 space parking garage. This project will result in the private investment of approximately $10 million to $20 million in Phoenix, creating hundreds of construction-related jobs. It will also serve as key infrastructure to accommodate the growth of the campus.
OTHER INFORMATION
Terms of the LOI include the City leasing its property as described above for 50 years with a 10-year renewal option. Rent will be abated the first eight years, then begin at $65,000 annually, growing 10 percent every fifth year. During the initial term, City revenues will total approximately $4 million, and $5.5 million if the renewal option is exercised. In addition, the City would retain fee title ownership of the land, and the improvements would revert to the City at no cost upon expiration of the lease.
Boyer must provide the City with construction documents, evidence of financing and pre-leasing commitments by June 1, 2012 and construction is to commence by November 1, 2012. The facility must be open by February 1, 2014. If these milestones are not met, the City may terminate the lease and reclaim the property, subject to one three-month extension to finalize sufficient pre-leasing commitments.
This project represents another significant private capital investment on the PBC and allows for continued campus growth. The facility will be privately funded with no cost to the City’s General Fund. Additionally, this development will be compatible with the campus as a whole, add value to existing and future developments, and is consistent with the City’s approved campus master plan.
RECOMMENDATION
Staff requests the Downtown, Aviation and Economy Subcommittee recommend City Council authorization to enter into Agreements with The Boyer Company for the private development and financing of a parking structure to serve the Phoenix Biomedical Campus.
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Can we get some goddamn urban planners in CED or even just in City Hall? And I don't mean someone that has an ASU-style "urban planning" degree who uses the word 'urban' to describe suburban tract-home subdivisions and any built environment more populated than a Wyoming goat farm, but rather someone that truly studied and understands dense, walkable, complex, multi-modal environments.
*rant over*
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