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777777 4� <br />EFRETTCITYOUIGIL A�rA ITEM COVER. STET <br />PROJECT TITLE: <br />Addendum #2 to Parking <br />Management Agreement for <br />Everpark Garage with <br />Downtown Everett <br />Association extending the <br />agreement an additional three <br />years <br />Consent <br />Action <br />First Reading <br />Second Reading <br />Third Reading <br />Public Hearing <br />X Proposed Action <br />COUNCIL BILL # <br />Originating Department <br />Contact Person <br />Phone Number <br />FOR AGENDA OF <br />Initialed by: <br />Department Head <br />CAA <br />Council President <br />Facilities <br />Carlton Gipson <br />(425) 257-8981 <br />June 23, 2010 <br />Location Preceding Action Attachments Department(s) Approval <br />Everpark Garage Addendum Legal <br />Amount Budgeted <br />$178,800 <br />Expenditure Required <br />$178,800 <br />Account Number(s):Fund 430 Everpark Garage <br />Budget Remaining <br />Additional Required <br />$0 <br />DETAILED SUMMARY STATEMENT: <br />- Downtown Everett Association's (DEA) Management Agreement with the City of Everett expires June 30, <br />2010. <br />Based on DEA's performance over the life of the contract, staff believes that continuing this relationship <br />would be in the best interest of the City. This agreement is for an additional 3 -year term. Given the current <br />economic climate, the City is proposing a management compensation increase of 0% for year 7 and 2% for <br />years 8 and 9. The modest increases in years 8 and 9 will help defray management and operation cost <br />increases. <br />Total first year cost of this contract is $178,800. <br />RECOMMENDATION (Exact action requested of Council): <br />Authorize the Mayor to sign Addendum #2 to Parking Management Agreement for Everpark Garage with <br />Downtown Everett Association, extending the contract an additional 3 years, in the amount of $178,800. <br />