Submitted by: At the Request of the City Administrator
Submitting Department: Community & Economic Development
Agenda Section: Consent
Item Title:
title
USPS Parking Lot Lease Renewal
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Suggested Action:
recommendation
I move the Mayor and Council authorize the City Administrator to execute a lease with the United States Postal Service (USPS) for use of the USPS parking lot located at 4325 Gallatin Street, Hyattsville, to expire in October 2025 at a rate of $843/month with a 3% annual increase.
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Summary Background:
The City's lease of the USPS parking lot located at 4325 Gallatin Street, Hyattsville, expires in October 2020. The current lease provides the City with the exclusive rights to thirty (30) parking spaces at a rate of $818.00 per month ($9,816 annually).
With a variety of commercial businesses in the Route One Corridor, there is a significant increase in demand for public parking within the corridor. During the current lease term, the City updated the language to permit the City to utilize the Parking Lot #3 for both City vehicles and as a paid public lot. During the past five years, the City has converted the lot to support public use, including updating kiosks and pay stations.
The USPS has offered the City a new five (5) year term lease at $1,029/monthly ($12,348 annually). Staff reviewed the USPS offer and responded with a request more in line financially with the rate of our existing lease.
The USPS responded to the City with a lease rate of $843/month ($10,008 annually) with a 3% annual increase. The City Administrator, Treasurer, and Community and Economic Development (CED) Director reviewed and concurred that the City can support the negotiated term rate.
Next Steps:
This item is scheduled for approval on October 5, 2020.
Fiscal Impact:
Funding for the parking lot lease is included in the FY2021 City Budget.
City Administrator Comments:
Recommend Approval.
Community Engagement:
N/A
Strategic Goals:
Goal 4 - Foster Excellence i...
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