Sponsor
Alderman Shakoor
Title
Proposed Parking Ramp Revenue Equipment Replacement and 24 Hour Ramp Management Contract
Resolved, that the recommendation to award a contract for a seven year lease of state-of-the art Parking Utility revenue control equipment and a professional management contract with 24/7 support services for the Gaslight, Lake, Shoop and Civic Center parking Ramps, and Surface Lakefront Lot No.5 with ABM Parking Services is approved
Fiscal Note: The Parking Utility is self supporting and no general fund contributions are required. Funding for the first year of the lease and management contract have been approved in Account 106.993.5760 (2013 Credit Card system-wide upgrade). The Parking Utility retains ownership of the equipment at the end of the lease. Benefits in reduced regular and overtime staff costs, lost revenue recovery and improved downtown parking operations are expected to
range between $177,790.00 and $320,312.00 over the seven year period.