2009-27090 ResoRESOLUTION NO. 2009-27090
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA ADOPTING AND
APPROPRIATING AN AMENDMENT TO THE PARKING
DEPARTMENT OPERATING BUDGET FOR FISCAL YEAR
2008/2009 IN THE AMOUNT OF $286,272 FOR THE
OPERATION OF THE 5T" AND ALTON GARAGE AND THE
MULTI-PURPOSE MUNICIPAL PARKING FACILITY TO BE
FUNDED FROM PARKING FUND 480.
WHEREAS, the City of Miami Beach is in the process of completing the
construction of two (2) new parking facilities that are scheduled to be open in the fourth
quarter of the current fiscal year (FY08/09); and
WHEREAS, the facilities are the Multi-Purpose Municipal Parking Facility
("MMPF") which will be fully owned and operated by the City, and the 5th and Alton Garage
("5th and Alton Garage") apublic-private project where the City will own a portion of the
parking spaces within the 5th and Alton Garage; and
WHEREAS, the Administration is requesting the appropriation of funds for
expenses related to the operation of these facilities, including two positions (Parking
Operations Supervisor and Office Associate IV), estimated at $28,154 for the fourth quarter
of FY08/09 (Exhibit A), to support the operation of these two facilities; and
WHEREAS, in orderto fund MMPF operating expenses forthe fourth quarter(July
to September) of FY08/09, the Mayor and Commission must appropriate and amend the
Parking Department's operating budget in the amount of $120,592; and
WHEREAS, in orderto fund the operating expenses estimated in the amount of
$280,665, for the fourth quarter (July to September) of FY08/09, for the 5th and Alton
Garage, the City Commission must appropriate $137,526, which equates to the City's
share (49%) of three (3) months of operating expenses in Fund 480 in order to operate the
garage.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City
Commission adopt an amendment to the Parking Department Operating Budget for Fiscal
Year 2008/2009 and appropriate funds in the amount of $286,272 for the operation of the
June 3, 2009
Resolution
Parking Budget Amendment
Page 2 of 2
2009-27090
5T" & Alton Garage and the MMPF (Multi-Purpose Municipal Parking Facility) to be funded
from Fund 480.
PASSED AND ADOPTED this 3rd day of ,June , 2009
ATTEST:
Ovt, ~~
CITY CLERK
Robert Parcher
JMG/SF/RAR
T:WGENDA12009Wune 31Consent\ParkingBudgetAmend.cme.doc
MAYOR
Matti Herrera Bower
APPROVED AS TO
FORM & LANGUAGE
COMMISSION ITEM SUMMARY
Condensed Title:
A Resolution adopting and appropriating an amendment to the Parking Department operating budget for Fiscal
Year 2008/2009 in the amount of $286,272 for the operation of the 5th and Alton Garage and the Multi-Purpose
Munici al Parkin Facili to be funded from Parkin Fund 480.
Key Intended Outcome Supported:
Increase parking availability.
Supporting Data (Surveys, Environmental Scan, etc.):
There had been an overall increase of 9.57% in total vehicle entries in City facilities between 2004 and 2007, thus
maintaining the need for an increase in parking space inventory.
Issue:
Shall the City Commission adopt the Resolution amending the Parking Department operating budget?
Item
The City of Miami Beach is in the process of completing the construction of two (2) new parking facilities that are
scheduled to be open in the fourth quarter of the current fiscal year (FY08/09). The facilities are the Multi-Purpose
Municipal Parking Facility a.k.a. "MMPF" which will be fully owned and operated by the City and the 5th and Alton
Garage a.k.a. "Potamkin Garage", a joint venture development between the City and Potamkin/Berkowitr (Developer)
where a condominium will be established with the City operating and owning a portion of the parking spaces.
Since the exact date of the opening of the two garages was uncertain at the time of the FY 2008/09 budget
development, these expenses were not included in our operating budget during the current budget cycle. Now that
the completion dates are approaching, we are requesting the appropriation of funds for expenses related to the
operation of these facilities.
Exhibits for each facility are attached providing daily and monthly rate structures; updated revenue projections,
estimated operating expenses; and for the 5th and Alton Garage, an itemized listing of projected expenses bom by
the City and Developer.
Funding MMPF operating expenses for the fourth quarter of FY08/09 requires an amendment to the Parking
Department's operating budget in the amount of $120,592 to be off-set by an increase in Parking revenues due to the
additional spaces made available at the 17tt' Street Garage and parking lot east of City Hall (Municipal Lot #29). In
addition, two positions (Parking Operations Supervisor and Office Associate IV), estimated at $28,154 for the fourth
quarter of FY08/09 (Exhibit A), are required to support the operation of these two facilities. The total additional
expense of $148,746 is anticipated to be offset by new harking revenues from the MMPF as well as from the
increased revenues from spaces made available in the 17t Street Parking Garage and the 17th Street Parking Lot.
Funding the initial required deposit ofthree (3) months Operating Expenses per the Development Agreement of the
5th and Alton Garage, estimated at $280,665, requires an amendment to the Parking Department operating budget in
the amount of $137,526, which equates to the City's share (49%) of the expenses.
It is recommended that the Mayor and City Commission adopt an amendment to the Parking Department Operating
Budget for Fiscal Year 2008/2009 and appropriate funds in the amount of $286,272 for the operation of the 5th &
Alton Garage and the MMPF (Multi-Purpose Municipal Parking Facility) to be funded from Parking Fund 480.
Adviso Board Recommendation:
N/A
Financial Information:
Source of Amount Account Approved
F ~ $148,746 Parking Fund 480
$137,526 Parkin Fund 480
O P Total $286,272
Financia Im act Summa
Ci Clerk's Office Le islative Trackin
Saul Frances, Parkin De artment
Sign-Offs• ~
Department Director s nt City Manager C' Manager
SF TH JMG
r:WGENDA\2009Uune 3\Consent\ParkingBudgetAmend sum.doc ~ O /
f~ /~ ~ /~ I ~ ~~~ ~ AGENDA ITEM G 71`~ _
'~ j 1~/ 1 j~, DATE -3~
m MIAMIBEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachFl.gov
COMMISSION MEMORANDUM
TO: Mayor Matti Herrera Bower and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manage
DATE: June 3, 2009
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDAADOPTINGRND APPROPRIATING AN AMENDMENT
TO THE PARKING DEPARTMENT OPERATING BUDGET FOR FISCAL YEAR
2008/2009 IN THE AMOUNT OF $286,272 FOR THE OPERATION OF THE 5T"
AND ALTON GARAGE AND THE MULTI-PURPOSE MUNICIPAL PARKING
FACILITY TO BE FUNDED FROM PARKING FUND 480.
ADMINISTRATION RECOMMENDATION
Adopt the Resolution.
FUNDING
$28,154 Funding is available from the Parking Fund 480
$120,592 Funding is available from the Parking Fund 480
137 526 Funding is available from the Parking Fund 480
$286,272
ANALYSIS
The City of Miami Beach is in the process of completing the construction of two (2) new
parking facilities that are scheduled to be open in the fourth quarter of the current fiscal year
(FY08/09). The facilities are the Multi-Purpose Municipal Parking Facility a.k.a. ~MMPF"
which will be fully owned and operated by the City and the 5~' and Alton Garage a.k.a.
"Potamkin Garage", a joint venture development between the City and Potamkin/Berkowitz
(Developer) where a condominium will be established with the City operating and owning a
portion of the parking spaces.
Since the exact date of the opening of the two garages was uncertain at the time of the FY
2008/09 budget development, these expenses were not included in our operating budget
during the current budget cycle. Now that the completion dates are approaching, we are
requesting the appropriation of funds for expenses related to the operation of these facilities,
including two positions (Parking Operations Supervisor and Office Associate IV), estimated
at $28,154 for the fourth quarter of FY08/09 (Exhibit A), to support the operation of these two
facilities. Exhibits for each facility are attached providing daily and monthly rate structures;
updated revenue projections, estimated operating expenses; and for the 5th and Alton
Garage, an itemized listing of projected expenses bom by the City and Developer. The
following operating revenue and expense projections are for each respective facility.
June 3, 2009
City Commission Memorandum
Parking Budget Amendment
Page 2 of 5
MMPF (MULTI-PURPOSE MUNICIPAL PARKING FACILITlf1
The MMPF is a 650 space parking facility, located on the northeast corner of 17th Street and
Meridian Avenue. This facility will have daily and monthly parking rates consistent with the
17th Street Municipal Garage. Hourly rates include any portion of an hour and all rates
include applicable sales tax.
0 to 1 hour: $1
1 to 2 hours: $2
2 to 3 hours: $3
3 to 4 hours: $4
4 to 5 hours; $5
5 to 6 hours: $6
6 to 7 hours: $8
7 to 8 hours: $10
8 to 12 hours: $15
12 to 24 hours: $20
Event Flat Rate: $15
Maximum Daily Rate: $20
Lost Ticket: $20
Monthly: $74.90
The parking management strategy for this facility is to relocate approximately 350 to 400 city
marked vehicles and employee personally owned vehicles (POVs) from the 17th Street
Municipal Garage to the MMPF allowing for additional capacity at the 17th Street Garage for
transient use serving Lincoln Road, City Hall, Miami Beach Convention Center, Fillmore, and
New World Symphony. In addition, the MMPF shall serve as the storage location (100
parking spaces) for City's valet parking concessionaire (First Class Parking) which will be
relocated from the metered surface parking lot immediately east of City Hall to the MMPF
(Municipal Lot #29). Lastly, the MMPF will serve as overflow parking for the Preferred
Parking Lots during certain events when the demand exists.
Under the proposed rates, the MMPF is projected to generate $513,795 gross revenues and
$482,368 operating expenses, resulting in revenues in excess of expenses in an estimated
amount of $31,427, annually. As you may recall, when the MMPF was contemplated by the
Mayor and Commission, a pro forma estimated an annual operating loss of $180,595. The
pro forma at the time did not contemplate additional revenues generated by the relocation of
the valet parking concessions nor from the 17 Street garage and 17 Street Lot. The revised
pro forma (see Exhibit B) has been updated to reflect said additional revenue which results
in net revenues in excess of expenses. Combined with the revenues from the additional
parking inventory in the estimated amount of $221,300 annually to the parking system, the
total additional annual net revenue resulting from the MMPF is $252,727.
In order to fund operating expenses for the fourth quarter (July to September) of FY08/09,
the Mayor and Commission must appropriate and amend the Parking Department's
operating budget in the amount of $120,592. This recommended action provides said
funding to operate the MMPF for the balance of the cun'ent fiscal year.
June 3, 2009
City Commission Memorandum
Parking Budget Amendment
Page 3 of 5
5t" 8~ ALTON GARAGE
The 5th and Alton Garage is a 1,081 space parking facility, located on the northeast comer of
5th Street and Alton Road. The Development Agreement (DA) between the City and
Developer stipulates that a condominium shall be established wherein the City and
Developer shall contribute 49% and 51 %, respectively, to the operating expenses of the
parking garage and also share profits or losses consistent with the aforestated distribution.
The DA further stipulates that a condominium and a fund shall be established and each
party shall deposit three (3) months of operating expenses into said account. In addition, if
at any point in time funds in the account are below the three month threshold of operating
expenses then each party shall deposit sufficient funds to restore funding to the prescribed
level.
The DA stipulates that the first two (2) hours of parking use in the garage shall be validated
and at no charge. The parking management strategy for this facility is to maximize use of the
parking garage by marketing to a variety of users that will not conflict with the retail hours of
the development. An hourly rate structure has been developed jointly with the Developer to
provide the two (2) hours of free parking required pursuant to the DA; however, the hourly
rate increases over time to recover the loss leader of the required two (2) hours of free
parking.
In addition, the following rate structure was crafted to service specific types of uses that in
turn allow for more aggressive assumptions for non-retail uses of the garage. These include:
valet parking operators that need 12 hour vehicle storage for restaurants and clubs and 24
hour storage for hotels; a flat rate of $10 shall be available on Fridays, Saturdays, Sundays,
and Holidays, after retail. use hours (10 p.m. to 7 a.m.) termed "After Hours Rate" supporting
nightlife venues in the nearby entertainment district; and lastly the Developer contributes
$290,000 annually for parking use by the retail tenants. As a reminder, the pro forma
included in the DA (2005) made various assumptions regarding retail use and limited non-
retail uses of the garage. The City and the Developer concur that a more aggressive rate
structure coupled with a targeted marketing strategywill yield additional revenues estimated
in the amount of $171,489.
0 to 2 hours: No Charge
2 to 3 hours: $3
3 to 4 hours: $5
4 to 5 hours; $7
5 to 6 hours: $9
6 to 8hours: $12
8 to 12 hours: $15
12 to 24 hours: $20
Event Flat Rate: $10
Maximum Daily Rate: $20
Lost Ticket: $20
Monthly: $105.00
Monthly Valet 12 hrs: $105.00
Monthly Valet 24 hrs: $210.00
Under the proposed rates, 5th and Alton Garage is projected to generate $759,369.16 in
annual gross revenues and $1,122,664.84 in annual operating expenses, resulting in an
estimated annual operating loss of $363,294.68 annually ($178,014.39 -City's share). As
June 3, 2009
City Commission Memorandum
Parking Budget Amendment
Page 4 of 5
you may recall, when the 5th and Alton Garage was contemplated by the Mayor and
Commission in May, 2005, a pro forma estimated an annual operating loss of $107,759.00
($52,801.91 -City's share). The pro forma contemplated limited non-retail uses to ensure
capacity for the retail parking demand; however, the Developer has updated the costs for the
items they are responsible for pursuant to the DA and the new pro forma reflects an increase
in the operating expenses of $427,024.84 (61.39%) over the 2005 pro forma. The revised
pro forma (see Exhibit C) has been updated to reflect both updated estimated expenses and
additional revenue.
It is important to note that a pro forma is based on a set of assumptions for both expenses
and revenues. Clearly, the assumptions used to prepare the expense side of a pro forma
are much more predictable than the revenue projections. The revenue projections for 5th and
Alton are conservative as it is difficult to predict usage for this type of development which is
new to the City and there are no comparables in the City or region. At first blush, some may
compare the Midtown Development; however, key drivers such as: parking generators, rate
structure, and abutting land uses are not comparable.
The parking generators for the 5th and Alton Garage are limited. Both the Developer and the
City are cognizant that utilization of the garage must be monitored closely to identify types of
users, trends, and opportunities for additional revenue. As aforementioned, the City and
Developer have already identified strategies to maximize revenues and will re-evaluate on
an as needed basis.
Historical data of the City's existing garages demonstrate varied usage pattems that without
having the benefit of historical data would have been difficult, if not impossible, to predict. In
FY 07/08, the City's six parking garages' average revenue per space was $2,645. This
included transient, valet, and monthly revenues. In FY 08/09 (October to April), revenue is
down 8.17% which equates to $2,429 per space. Five of these six garages have multiple
generators such as the beach and entertainment districts with successful shopping and
nightlife activities that compete for parking during varying hours of the day, similar to the 24
hour use of an airport parking garage. Once the 5th and Alton Garage develops its usage
patterns for the Administration and Developer to evaluate, we can hone in on more specific
strategies to increase revenues. Please take note that if the 5th and Alton Garage performs
at 50% of the City`s average garage parking space that would equate to $1,214 per space or
$1,312,334 which would result in an annual positive cash flow of $189,671 for the 5~' and
Alton Garage. The projected revenues are much more conservative and take into account
the 2-hour free parking for retail use, and therefore reflect an annual negative cash flow of
$363,294.68. We will closely monitor the revenues and make adjustments to the projections
on an as-needed basis.
Pursuant to Exhibit E of the DA entitled "Material Provisions of Declaration"; Section 4
entitled "Operation, Repair and Replacement"; paragraph a entitled "Collection of Revenues
and Allocation of Operating Expenses;
(ii) All revenues from the operation of the Garage (the "Revenue"), including the
Contribution, shall be deposited by City and/or Developer, as applicable, in a
dedicated bank account (the "Operating Account") and no other sums shall be co-
mingled with the funds in said account (provided, however, that for expenses that are
partially allocable to the Garage and partially allocable to the Retail Space,
Developer may deposit money into the Operating Account to cover the portion
allocable to the Retail Space and then cut one check to the applicable provider of
June 3, 2009
City Commission Memorandum
Parking Budgef Amendment
Page 5 of 5
service out of the Operating Account). The Operating Account shall initially be
funded with an estimated three months of Operating Expenses, with the City funding
the City Fraction and the Developer funding the balance. One twelfth of the annual
Contribution shall be deposited in the operating account not later that the fifth day of
each month, in advance. All revenues of the garage that are collected by the City
shall be deposited into the Operating Account within one business day (revenues
received on Friday, weekends and legal holidays will be deposited no later than the
next business day) of their collection. If at any time the Operating Account has
insufficient sums fo cover Operating Expenses, the Parties shall deposit the
deficiency within three (3) business days after notice (said deposit being allocated to
City based on the City Fraction, with the balance to the Developer). If either Party
fails to pay any amount payable by it into the Operating Account when due, said
amount shall accrue interest from the date due until paid at the Default Rate, and the
Party not in default of its payment obligation shall be entitled to Collection Costs for
enforcement o the other Party's payment obligation.
In order to fund the City's share of the operating expenses estimated in the amount of
$280,665, for the fourth quarter (July to September) of FY08/09, for the 5th and Alton
Garage, the City Commission must appropriate $137,526, (49% of three (3) months of
operating expenses. This recommended action provides the required funding to operate
the 5th and Alton Garage for the balance of the current fiscal year.
CONCLUSION
The Administration recommends that the Mayor and City Commission adopt an amendment
to the Parking Department Operating Budget for Fiscal Year 2008/2009 and appropriate
funds in the amount of $286,272 for the operation of the 5T" & Alton Garage and the MMPF
(Multi-Purpose Municipal Parking Facility) to be funded Parking Fund 480.
JMG/SF/RAR
T:WGENDA\2009Wune 3\Consent\ParkingBudgetAmendl.cme.doc
EXHIBIT A
SALARY EXPENSES
FULL YEAR 3 months
Office Associate IV
480-0461-000111 Salary 37,980.80 9,495.20
480-0461-000162 Health Insurance 5,000.00 1,250.00
480-0461-000165 Medicare @ 1.45% 550.72 137.68
480-0461-000154 Uniforms 100.00 100.00
SUB-TOTAL 43,631.52 10,982.88
Pka Oas Suuervisor
480-0463-000111 Salary 48,975.16 12,243.79
480-0463-000162 Health Insurance 5,000.00 1,250.00
480-0463-000165 Medicare @ 1.45% 710.14 177.53
480-0463-000154 Uniforms 500.00 500.00
480-0463-000671 Furniture 500.00 500.00
480-0463-000674 Equipment 2,500.00 2,500.00
SUB-TOTAL 58,185.30 17,171.32
TOTAL 101, 816.82 28,154.21
EXHIBIT B
MULTI-PURPOSE MUNICIPAL PARKING FACILITY
FEE SCHEDULE
(same as 17th St Garage)
0 -1 hour $1.00 7 - 8 hours $10.00
1 - 2 hours $2.00 8 -15 hours $15.00
2 - 3 hours $3.00 15 - 24 hours $20.00
3 - 4 hours $4.00 Event Flat Rate $15.00
4 - 5 hours $5.00 Max Daily/Lost ticket: $20.00
5 - 6 hours $6.00 Monthly $74.90
6 - 7 hours $8.00
PROJECTED REVENUE
ONE YEAR EST QTR 4 - FY09
480-8000-NEW Transient Weekday $104,000.00 $26,000.00
480-8000-NEW Transient Weekend $105,000.00 $26,250.00
480-8000-NEW Monthly Permits $179,760.00 $44,940.00
480-8000-NEW Valet Parking Concession $161,000.00 $40,250.00
480-8000-NEW Sales Tax ($35,965.61) ($8,991.40)
TOTAL REVENUE $513,794.39 $128,448.60
PROJECTED EXPENSES
ONE YEAR EST QTR 4 - FY09
480-0463-000312 Professional Services $238,368.00 $59,592.00
Attendants/Supervisor $148,512.00
Security $74,256.00
Landscaping $15,600.00
480-0463-000314 Electricity $40,000.00 $10,000.00
480-0463-000316 Telephone $3,000.00 $750.00
480-0463-000317 Water $2,000.00 $500.00
480-0463-000318 Sewer $4,000.00 $1,000.00
480-0463-000319 Sanitation $3,500.00 $875.00
480-0463-000324 Printing/Tickets $5,000.00 $1,250.00
480-0463-000325 Maintenance Contract $131,400.00 $32,850.00
Janitorial $108,000.00
Exterminating $3,000.00
Fire Extinguishers $1,800.00
Fire Alarm Monitoring $3,000.00
Courier $6,000.00
Revenue Control Equipment $9,600.00
480-0463-000329 Storm Water $4,600.00 $1,150.00
480-0463-000341 Office Supplies $3,000.00 $750.00
480-0463-000342 Maintenance Repair $3,000.00 $750.00
R&M Supplies $1,000.00
Elevator repair not under contract $2,000.00
480-0463-000343 Other Operating $1,500.00 $375.00
480-0463-000502 Property Management $40,000.00 $10,000.00
480-0463-000503 Fleet $3,000.00 $750.00
TOTAL EXPENSES 5482,368.00 $120,592.00
PROFIT/(LOSS) $31,426.39 $7,856.60
Projected Revenue Increase Surroundins~ Area
480-8000-344583 17th Street Garage Transient $200,000.00 $50,000.00
260 addt'I spaces weekdays avg $3 ticket
480-8000-344517 Municipal Lot #29 $21,300.00 $5,325.00
Est. increase of 30% of meter revenue due
to valet relocation
$221,300.00 555,325.00
EXHIBIT C
Page 1 of 4
5TH AND ALTON PARKING GARAGE
FEE SCHEDULE
Monthly Rates:
Valet - 24 hours:
Valet - 12 hours
Commercial - 24 hours
$210.00
$105.00
$105.00
Employee (Retail):
One validation code assigned to each tenant for their employee parking. The
City will monitor tenant validation utilization and periodically review with the
Developer.
Transient Rate:
0 - 2 Hours: No Charge
2 - 3 Hours: $3.00
3 - 4 Hours: $5.00
4 - 5 Hours: $7.00
5 - 6 Hours: $9.00
6 - 8 Hours: $12.00
8 - 12 Hours: $15.00
12 - 24 Hours: $20.00
Event Flat Rate Parking:
In After 10:00 PM and Out Before 7:00 AM: $10.00 Flat Rate
PROJECTED ANNUAL REVENUE
Tenant Contribution $290,000.00
Transient Revenue $82,125.00
Event Flat Rate $62,400.00
Commercial - 24 hours $126,000.00
Valet 24 hour access $189,000.00
Valet 12 hour access $63,000.00
Sales Tax ($53,155.84)
TOTAL $759,369.16
EXHIBIT C
Page 2 of 4
5TH and ALTON GARAGE
BUDGET -EXPENSES -REVISED SN5/2009
Proj. Project Retail Garage
Expense Allocation Allocation Retail Allocation Garage Allocation CMB 49% BDG 51%
CMB
Contracted Labor
Cashiers attendants supervisors 148,512.00 0% 100% - 148,512.00
Tickets 8,000.00 0% 100% - 8,000.00
BDG
Telephone (Garage Only) 3,900.00 0% 100% - 3,900.00
Telephone (Retail Only) 4,200.00 100% 0% 4,200.00 -
Utilities 210,000.00 35% 65% 73,500.00 136,500.00
Repair 8~ Maintenance
Maint Salaries 45,588.00 32% 68% 14,588.16 30,999.84
Janitorial 99,000.00 10% 90% 9,900.00 89,100.00
Pkg Lot Sweeping 28,800.00 0% 100% - 28,800.00
Pkg Lot Lighting 2,400.00 10°k 90% 240.00 2,160.00
Pkg Lot Restripping/Resurfacing 1,200.00 0% 100% - 1,200.00
Electrical Repairs 2,400.00 10% 90% 240.00 2,160.00
Maint Cleaning Supplies 4,800.00 10% 90% 480.00 4,320.00
Ramp Repairs - 0% 100% - -
Bumper Repairs Replacement 1,000.00 0% 100% - 1,000.00
Ramps Access Control - 0% 100% - -
Garage Ventilation 600.00 0% 100% - 600.00
Garage Signage 600.00 0% 100% - 600.00
Plumbing Repairs 300.00 10% 90% 30.00 270.00
Roof Deck 1,000.00 0% 100% - 1,000.00
Garage Light Bulbs 1,800.00 10% 90% 180.00 1,620.00
Barrier Cables - 0% 100% - -
HVAC -Security Office 1,200.00 40% 60% 480.00 720.00
HVAC -Elevator Machine Room 4,800.00 32% 68% 1,536.00 3,264.00
HVAC -Pkg Attendant Booths 900.00 0% 100% - 900.00
Misc. Maint. Equip. 2,400.00 32% 68% 768.00 1,632.00
Repair & Maintenance (Retail Only) 7,700.00 100% 0% 7,700.00 -
Service Contracts
Fire Extinguisher 3,100.00 10% 90% 310.00 2,790.00
Fire Alarm Monitoring 6,000.00 10% 90% 600.00 5,400.00
Emergency Generator 2,100.00 10% 90% 210.00 1,890.00
Pressure Cleaning 5,000.00 10% 90% 500.00 4,500.00
Equipment Rental & Repairs 6,000.00 10% 90% 600.00 5,400.00
Security Cameras 5,000.00 0% 100% - 5,000.00
Misc. Common Area Expenses 900.00 32% 68% 288.00 612.00
Common Area Cleaning Supplies 4,800.00 100% 0% 4,800.00 -
License 600.00 32% 68% 192.00 408.00
Professional Services - 100% 0% - -
Signage 1,000.00 32% 68% 320.00 680.00
Courier Service 6,000.00 0% 100% - 6,000.00
InteriodAtrium Railings 1,000.00 32% 68% 320.00 680.00
Decorative Grating 1,000.00 0% 100% - 1,000.00
Pest Control 900.00 10% 90% 90.00 810.00
Storm Water - 32% 68% - -
Sanitation - 10% 90% - -
Water ~ Sewer 8,000.00 32% 68% 2,560.00 5,440.00
Security 325,725.00 40% 60% 130,290.00 195,435.00
Landscaping & Tree Trimmimg 6,600.00 50% 50% 3,300.00 3,300.00
Irrigation/Sprinklers 2,400.00 50% 50% 1,200.00 1,200.00
Elevator Maintenance 75,000.00 32% 68% 24,000.00 51,000.00
Fire Safety Equipment 1,000.00 10% 90% 100.00 900.00
Trash & Waste Removal 5,000.00 32% 68% 1,600.00 3,400.00
Fire Alarm 8 Sprinklers 9,300.00 10% 90% 930.00 8,370.00
Garage Keepers Insurance 5,000.00 0% 100% - 5,000.00
Liability Insurance (NOTE) 50,000.00 2% 98% 1,000.00 49,000.00
Casualty Insurance (NOTE) 250,000.00 0% 100% - 250,000.00
Loss of Rent (NOTE) 16,000.00 0% 100% - 16,000.00
Painting 4,800.00 10% 90% 480.00 4,320.00
On-Site Property Mgr Salary Reimb 49,992.00 50% 50% 24,996.00 24,996.00
OnSite Property Mgr Office 1,800.00 100% 0% 1,800.00 -
Marketing 1,875.00 0% 100% - 1,875.00
$ 1,436,992.00 $ 314,328.16 $ 1,122,663.84 $ 550,105.28 $ 572,558.56
CMB 49% BDG 51
o
v
ma'c ~ ~
3 n
~'?~x
N N fG fD
~
p
~m
~ ~
a
d ~.
m~3 B.
~o m cv v
~'c Wv°,
N N N
fN fA fA
N N
~ N _
W CT O
CVT O CWT O CST
~ W ~
N
~ O -
vi En v~E» rn
V ~ W ~ N
O ~ T W
o cn cT ~ o
~ ~
W D
V t
0 D W
v O C
EA 69 fA 69 fA
f0
<O f0 A A
A W V -+
T N UWI ~~
CT CT O CT ~
CD W CT CD
N A N V W
A
0
n
m
0
~c
m
Z
m
y
~~
~d
d!
V
W
N
O f~0
~ CT
0
f'1
m
v
m
m
Z
C
m
0
O
0
m
7
m
~q
N
D
o~
pl
x
v
O
z
m
0
ro
d
W =
W W
~ i
A n
i
~
~
yo
lnfn
Ca CAD
0
o ~
m
x3n~
m o c k
N 4i t0 ~
~
O
~
~ -i .Zl
~ c
~~pO
~ m my
N m ~? y' ~
~ .
~i
E
s~ En D to en t» EA
< _
N U tO UCD
~ W A W W A
~ U N
N
N
d O
OD ~ D
O
U O
U ~
W C
O A
v
W
~
rn v+ m En sA bn vi t>s
N O W W W
~
D
O A A - A
<
t
t0 V a N N CT
J W
O
U
0
00D ,
p
W N A O 0
T O~
0
C
w ~~ z ~ ~ .
v~~w Z
- ~ ~ ~~~~
_
_ (~~
W
W W O
O U A ~j O W
A
A ~ A ~ A O CUT OOA
~
~~
U v
~ N W ~ i
~
O n
fA fA H/ t/! b'f EA EA EA
O W W W W O
O U
A
A
A A
O A A O CUTOOA
~ N W ~ ~ ~
~
V
i
v
O ~
fA !A fA G9 d! fA EA EA EA
O W U
O
W
O U A C
+.1
W
V W
~ V pNp UUOD V
A A A O CT OOA
N
N W
~
W
T W~ T
V Q
~YN GA GF! 69 fA l!i
O W W W O
O U A W
V V
v
A W
~ A A OD
O UWU
UIOOA
U
N W
~
~
W W A
N -I~
O
f v C
t0
EA b9 fA f/~ d! EA EA 69 b9
O
~ W W W WO
O U
A
p
,
,
p
A pp
,
,
OA A O DUiOO
A
T
~ (
(nn
W
V
D
T N W i
v O
T
~ ~~ ~ ~~~~
W W W W O
O U
A O
a
A OA A O CUTiOOA
~ ~ ~ ~ ~
W ~
W N W .
N.
4i EA EA GA EA G9 EA
W W W W O
O U A O
N W N N N N
U
N
A ~ A A O ppp
p
,UUiOOA
U V W W~
i
O N W T 1
O v ~
EA 69 fA dq fA EA EA EA
W ~ W a7 cO T 0 W
O U A O W W W W O
A
A p
O A A O tUTOOA
~ N W U ~ ~ W ~
i
O v -
O O W W W W
U A O
V W V N N
V
U
N
A ~ A A D
O
O 0 p
ppp
C
T 0
U O O A
N W ~ V ~T~ C
1
O v
EA 69 FA Vi EA Efl
W ~ W U f O C 7 0 W
O U A O W W W W O
A ~ A A O CUTOOA ~
N W ~ ~ N W ~ ~ ~
A [n '1
~ ~• C
0
~ <
A
;~-'C
b
7
I
I~ I~
O
b
K
O
A
1
~ v
= m
.D Z
~ m
m y
m
~
a~
c
~~
< ~ ~~
~~
~~ 9 ~1
O ~_
~ ~D
n o Z
m ~~
v ~ ~
~ ~ O
m
~ ~
vi vi vi C m
w ~ m
w ~ x m
O O ~ 7
rnc~ N
rnrn Dm
Fy ~ O
~_
O
W W
W
o~
rn ~
I""'''
W
N
(b
v
I
~~
7
lA
W
O
V T
O
W
W
O
~~
EA
W
O
~b
W
O
T 0)
lA
U
W
O
T
7
v t_
V IC
°' -
GA
W
O ,_
~ C
IW~
N ~(
N =
A W
O_ 1
A C'1