Title
License Agreement with AP 355 North Central Property, LLC to Provide Valet Services (Ordinance S-48265)
Description
Request to authorize the City Manager, or his designee, to execute a valet license agreement with AP 355 North Central Property, LLC to provide valet services on City property. Further request to authorize the City Treasurer to accept all funds related to this item.
Report
Summary
AP 355 North Central Property, LLC c/o Akara Partners would like to use City-owned property abutting the Hampton Inn and Suites for the purpose of operating limited valet parking services. The City will grant a valet license to use approximately 610 square feet of ground space within the public right of way located on the south side of East Polk Street between Central Avenue and 1st Street. The licensed premises is to be used for operating valet services defined as accepting possession of a vehicle in the licensed premises for the purpose of parking the vehicle for the operator in a location other than the licensed premises. The licensed premises must be kept free and clear for operation of valet services during the hours of 6:00 a.m. and 2:00 a.m., seven days a week. Long term and VIP parking is prohibited, but express delivery vehicles may be permitted for short periods.
Contract Term
The term of the valet license will be for ten years with four, five-year extension options.
Financial Impact
The City is expected to receive $1,866.60 annually, which may be increased annually based on the Consumer Price Index.
Location
355 N. Central Ave., approximately the southeast corner of Central Avenue and Polk Street
Council District: 7
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Street Transportation Department.