City of Ashland, Oregon / City Recorder / City Council Information / Packet Archives / Year 2003 / 02/04 / Parking Structure
Parking Structure
[ Council Communication ] [Summary
Table]
Council Communication
| Title: |
Quarterly update on parking structure: October- December,
2002 |
| Dept: |
Finance Department |
| Date: |
February 4, 2003 |
| Submitted By: |
Lee Tuneberg, Finance Director |
Approved
By:
........................... |
Brian Almquist, Interim City Administrator |
| Synopsis: |
Attached is a memo regarding the Hargadine parking
structure revenue for the last quarter and calendar year 2002. |
| Recommendation: |
Staff recommends acceptance of this report. |
| Fiscal Impact: |
The report indicates adequate funds will be generated
to service debt and maintain the structure. |
| Background: |
The structure was constructed using an Oregon Economic
and Community Development Department grant ($600,000) and loan ($900,000)
in a cooperative effort with Oregon Shakespeare Festival. The debt service
for 10 year loan will be paid in part by the OSF obligation of $390,000 at
$29,000 per year and the City using parking revenues generated for the remaining
$510,000 at $38,600 per year. |
The summary table is available in PDF format.
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