2902 COLBY AVE 2018-01-02 MF Import

Page 4 the relationships of customer vehicle parking usage to savings volume and to proximity to the center of the business district, and further, based on reasonable management estimates of savings volume growth in the for - seeable future to a total of $45,000,000, it is desirable for the Bank to provide a minimum of 7 on -site customer vehicle parking spaces. The plans for the proposed development call for 9 spaces. THEREFORE, a very ample number of customer vehicle parking spaces is provided for in the plans and will be built on -site to accommodate customers of Fidelity Mutual Savings Bank. II WHAT AMOUNT OF VEHICLE PARKING SPACE WILL BE NEEDED TO ACCOMMODATE EMPLOYEES OF FIDELITY MUTUAL SAVINGS BANK? At the present time the Everett Branch has five employees. Management projections of the number of employees who will work at the branch call for an increasing number to a total of 15 by the year 1990. It is assumed that all will drive vehicles to and from work and will necessarily need parking spaces within a reasonable walking distance from the Bank. Illustration 2 shows the location of the existing public parking lot operated by Diamond Parking, Inc. at 2919 Hoyt Avenue. It is 24 feet SW across the alley from the Fidelity property. According to the prime lessee of the property they have no plans to effect a change in the use of the property; according to Diamond, who leases from the prime lessee, they ex- pect to continue the parking operation. The lower level of the parking facility is rented to monthly parking customers. According to Mr. George Nelson of Diamond Parking, Inc. the lower level accommodates 60 monthly customers and 35 spaces are currently rented. There are 25 available spaces and according to Mr. Nelson that is an average number that has existed for quite some time and is expected to continue to be available for monthly customers. THEREFORE, a very ample number of existing public parking spaces is available and will continue to be at a convenient, nearby location for employess of Fidelity Mutual Savings Bank.