Title
Consider/Discuss/Act on the Schematic Design for a Public Parking Garage Generally Located on the Northeast Corner of Chestnut Street and Virginia Street
Summary
COUNCIL GOALS: Direction for Strategic and Economic Growth
Enhance the Quality of Life in McKinney
MEETING DATE: March 7, 2017
DEPARTMENT: City Manager's Office
CONTACT: Barry Shelton, Assistant City Manager
RECOMMENDED CITY COUNCIL ACTION:
* Staff asks that the City Council provide direction on the following:
o Does the City Council want to proceed with a parking structure at this location?
o If so, what option does the Council want to build?
ITEM SUMMARY:
* On November 15, 2016 the City Council approved a development agreement with the owners of the property on the northeast corner of Chestnut Street and Virginia Street for the design, construction and lease of a parking garage.
* The first phase of the development agreement was for schematic design services for the purpose of obtaining preliminary cost estimates.
* Four options have been prepared, with estimated construction costs, for the City Council's review.
* One of the four options would require closure of Herndon Street, on the north side of the subject property. The abandoned right-of-way would be incorporated into the subject property to allow for a more efficient parking structure layout.
* The other three options keep Herndon Street open and only utilize the subject property for the parking structure.
* Details of each option, including number of spaces, structure height and estimated costs are provided in the attached presentation.
BACKGROUND INFORMATION:
* Staff negotiated a development agreement between the City of McKinney, Virginia@5, LLC and SP2 301 E Virginia, LLC for the construction of a parking garage providing approximately 300 parking spaces on the property located on the northeast corner of Virginia Street and Chestnut Street.
* The agreement provides for the design, construction and lease of the parking ...
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