The surface parking lot sits on the southeast corner of Stetson Drive and Wells Fargo Avenue in the northeast quadrant of downtown Scottsdale. It holds 105 public parking spaces, describes a Feb. 3 city staff report.
The new parking lot features 175 spaces, a minimum of 105 of which will be free to use, with a publicly accessible restroom, the staff report states.
Discussion of the lease and option agreement is expected Tuesday, Feb. 3 at the Scottsdale City Council meeting at City Hall, 3939 N. Drinkwater Blvd.
While public parking would be unavailable on the lot at certain times during construction, the key agreement between city and Equity Partners Group, LLC. requires the lessee to maintain the current surface parking until construction begins.
In addition, the agreement outlines a construction schedule by which the new parking structure would be complete within four to five years, according to the report.
The lease and option agreement originally went before Scottsdale City Council last November at which time it was voted 4-3 to continue the item an addition 60-90 days to allow further study of the downtown parking situation.
Staff now recommends further continuation of the item in order to complete a study of downtown parking availability.
According to the report, the respondent did agree to honor his proposal until Feb. 6, but has not yet agreed to further postponement of a decision.
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