Submitted By
Jill Velan, Parking and Mobility Services Director
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Approving a Parking Lot License Agreement Between the Village of Oak Park and Fenwick High School for the Use of Lot #116 at the Northeast Corner of Oak Park Avenue and Madison Street and Lot #SB5 on the North Side of South Boulevard Between Wesley Avenue and East Avenue and Authorizing its Execution
End
Overview
Overview
Since 2005 the Village has entered into license agreements for the use of Lot #116 at the northeast corner of Oak Park Avenue and Madison Street. Currently the Village has a license agreement with Fenwick High School for student permit parking. This agreement will expire on July 31, 2018. Due to the possibility of development of Lot #116, this agreement is presented as a one year term with a 30 day termination clause.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
The annual Parking Fund budget provides for the revenues anticipated to be received from the agreement. Currently Village Code sets the rate for student permits at $240 per permit if Fenwick High School administers the permit sales program.
Background
On May 5, 2014 the Village Board approved a three year license Agreement with Fenwick High School for use of Lot #116 at the Northeast corner of Oak Park Avenue and Madison Street and lot #SB5 on the north side of South Boulevard between Wesley and East Avenues.
In January 2005, the Village acquired the 125 space parking lot at the northeast corner of Oak Park Avenue and Madison as part of the Foley-Rice Business Retention Agreement and Foley-Rice used the lot through March of 2007 for car storage during the remodeling of the dealership.
Subsequently, the Village approved use of the Lot by Fenwick High School from March of 2007 through January 2008 for construction worker parking during the construction of an addition to the High School. Since this time, the Village has approved multiple...
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