LTC 402-2022 Fifth & Alton Garage RatesDocuSign Envelope ID: 2135641 B-A932-4DF0-81 E6-C0ADB5A7604A
MIAMIBE
OFFICE OF THE CITY MANAGER
NO. L TC# 402-2022 LETTER TO COMMISSION
TO: Honorable Mayor Dan Gelber and Members of the City Commission
FROM: Alina T. Hudak, City Manager 1au:9;u ~ 7 AE29EF3401349E ...
DA TE: September 23, 2022
SUBJECT: Fifth & Alton Garage Rates
The purpose of this LTC is to notify the Mayor and City Commission of the upcoming
rate changes at the Fifth and Alton Garage.
The Fifth and Alton garage is a joint venture between the City of Miami Beach and
EDENS. The city owns 46% and EDENS owns 54% of the parking garage. The City
and EDENS share parking revenues and expenses. Recently, there has been a
shortage in revenues, requiring the City and EDENS to contribute to the garage's
operational cost. Additionally, the Fifth and Alton garage and facility has fallen in
despair and must fund needed upgrades. To address revenue shortages, the City
and EDENS evaluated the operation and rate structure with the intent of improving
revenue and providing funds for needed equipment and facility upgrades.
The current garage rate structure includes the first two (2) hours free of charge.
The intent of these two (2) free hours is to provide parking for patrons visiting the
retail establishments within the Fifth and Alton facility. This cost is supported by the
Tenant Contribution fee coliected from the retail establishments. With many
developmenls in the surrounding area, the City and EDENS identified the need to
reevaluate the 2-hour free policy. To ensure proper parties receive the two (2) hour
free validation, effective October 1, 2022 retail patrons of the Fifth and Alton shops
will be required to show proof of purchase by presenting a receipt from one of the
Fifth and Alton retailers. In addition, the City and EDENS have agreed to establish
an hourly rate to match the rates at other City garages in the South Beach area.
As at all City garages, Residents will continue to enjoy a discounted hourly parking
rate of $1 per hour
For rate information please refer to the City of Miami Beach Parking website at
www .MiamiBeach Parking .com
If have any questions, please contact Monica Beltran, Parking Director via email
i'AonicaBeltran@rniarr1ibeachfl.qov or at extension 26863.
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