TO: Mayor and Commissioners
FROM: Susan Goebel-Canning, Public Works Director
THROUGH: Mark R. Lauzier, City Manager
DATE: September 25, 2018
Title
APPROVING AMENDMENT #3 TO THE VALET PARKING LICENSE AGREEMENT WITH CUT 432 LLC PROVIDING VALET PARKING SERVICES TO EXTEND FOR ONE YEAR THE LICENSE TO PROVIDE VALET PARKING SERVICES IN THE CENTRAL BUSINESS DISTRICT OF THE CITY OF DELRAY BEACH (CITY)
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Recommended Action:
Recommendation
Motion to approve Amendment #3 to the Valet Parking License Agreement with CUT 432 LLC providing valet parking services to extend the license from October 1, 2018 until September 30, 2019.
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Background:
In 2014, the City of Delray Beach entered into a Valet Parking License Agreement with Cut 432 LLC in the Central Business District. Each of the Valet Parking License Agreements was for a period of three years, including a 3 percent escalation clause annually. This agreement expires on September 30, 2018 and there is no month-to-month renewal clause. The new agreement will replace the existing agreement, extending the time and increasing the per parking space fee to $165 per month for all valet queues, which was approved by the City Commission earlier this year. Should the Commission choose to change the terms of this contract, this contract can be cancelled upon 30-day notice and a new contract will be pursued including the new fees or terms as approved by the City Commission.
City Attorney Review:
Approved as to form and legal sufficiency.
Finance Department Review:
This action will allow the Valet Parking lesees to contine in operation for an additional year at an increased revenue of $165/parking space. Cut 432 LLC currently leases 3 parking spaces at a cost of $135.19/month for annual revenue of $4,866.84 to the City. Approval of this agreement will increase the annual revenue to the City to $5940. Failure to approve this lease agreement will cancel the ability of the Valet Parking lesee to continue in operatio...
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