Fiscal Note
The four parking agreements authorized by this resolution are estimated to generate payments of the following amounts:
Associated Bank - $24,000 per year (arrangement in place since March, 2005)
Madison Symphony Orchestra - $5,500 per year (in place since 1999)
Bethel Lutheran Church - $15,000 per year (in place since 1999)
Madison Opera - $2,500 per year (prospective)
These agreements represent alternative revenue collection mechanisms and would result primarily in improved customer convenience rather than increased revenue. No significant budgetary impact.
Title
Approving Parking Coupon agreements between the City of Madison (Parking Utility) and Associated Bank, N.A., the Madison Symphony Orchestra, Madison Opera, and Bethel Lutheran Church and authorizing the Mayor and Clerk to sign the agreements.
Body
WHEREAS, the Parking Utility has made two kinds of agreements in the past with local businesses and other entities, for those entities to purchase parking coupons to give to their patrons to cover the cost of parking in Parking Utility cashiered parking ramps; and
WHEREAS, under one form of the agreement the city issues "parking coupons" to the business entity, who gives out coupons to customers or other persons from whom they want to pay the cost of parking, the actual cost of the parking is recorded by the Parking Utility, and the contracting entity is billed and pays the full actual cost of parking plus an administrative fee; and
WHEREAS, under other arrangements, the Parking Utility makes certain reserved or permit parking available (not part of the "cashiered section") in the evening to the business or entity, (such as Madison Opera or the MSO) and the Opera or Orchestra agrees to pay the full cost of "special event" parking for those patrons, either with a coupon, or other means; and if all of the reserved parking is not used by the event patrons, the Parking Utility may sell parking at the special event rate to other park...
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