City of Ashland, Oregon / City Recorder / City Council Information / Packet Archives / Year 2003 / 08/19 / Hargadine Parking
Hargadine Parking
[Council Communication] [Memo]
Council Communication
| Title: |
Hargadine parking Structure Report - January - June 2003 |
| Dept: |
Finance Department |
| Date: |
August 19, 2003 |
| Submitted By: |
Lee Tuneberg, Finance Director |
Approved
By:
........................... |
Gino Grimaldi, City Administrator |
| Synopsis: |
Attached is a memo regarding the Hargadine parking structure
revenue for the last two quarters of Fiscal Year 2002-03. |
| 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. |
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