1998-061-Extend The Parking In-Lieu Program For Non-Conforming Downtown Properties As To Parking That Front North Santa Cruz Avenue Are North Of Andrews Street But South Of Ashler AvenueRESOLUTION 1998 - 61
RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF LOS GATOS TO EXTEND
THE PARKING IN -LIEU PROGRAM FOR NON - CONFORMING DOWNTOWN
PROPERTIES AS TO PARKING THAT FRONT NORTH SANTA CRUZ AVENUE AND
ARE NORTH OF ANDREWS STREET BUT SOUTH OF ASHLER AVENUE
WHEREAS, it is the intention of the Town Council of the Town of Los Gatos to
establish a policy to encourage tenant improvements and resolve non - conforming parking
status for specific properties that front North Santa Cruz Avenue and are located between
Andrews Street and Ashler Avenue.
WHEREAS, the present day value of a parking space in the "Park and Ride" lot
has been established at $3,700 by taking the original construction cost and increasing its value
due to inflation and;
WHEREAS, the estimated life of building structures in the area considered is 25
years, the calculated on going cost to maintenance a parking space for 25 years is
approximately $2,550 and;
WHEREAS, the original contributors into the parking in -lieu program paid an in-
lieu fee of $4,000 per parking space and;
WHEREAS, the Town Council does recognize that the affected non - conforming
parcels between Andrews Street and Ashler Avenue will have a reduction in benefits due to
their proximity to the "Park and Ride" lot and;
WHEREAS, the Town Council does wish to work in cooperation with the
property owners to improve their buildings and the parking fee shall be established at $2,000
per space a sum less than the total construction and maintenance costs and;
WHEREAS, the Town Council has directed that the proceeds be used to
maintain and improve parking and transit related to the "Park and Ride" lot.
RESOLVED, that this in -lieu parking resolution is hereby approved to
implement Town Code Section 29.10.207.
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PASSED AND ADOPTED at a regular meeting of the Town Council, held on
May 4, 1998 by the following vote.
COUNCIL MEMBERS:
AYES: Randy Attaway, Joanne Benjamin, Steven Blanton, Jan Hutchins,
Mayor Linda Lubeck
NAYS: None
ABSENT: None
ABSTAIN: None
SIGNED: y —
MAYOR OF THE TOWN OF LOS GATOS
LOS GATOS, CALIFORNIA
ATTEST:
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CLERK OF THE TOWN OF LOS GATOS
LOS GATOS. CALIFORNIA
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