City Center President Mark Baker has explained once again that his figures were revised from the earlier survey and that they showed the parking project to be absolutely financially viable.
took a snapshot of parking in Saratoga Springs during two weeks in May from 8 a.m. to 4 p.m., Baker
March 15 city council presentation, Saratoga Springs City Center
Authority Parking Structure Project, Baker
parking revenue analysis on 2012 figures.
The authority looked at the numbers day by day, month by month, event by event, Baker
The original revenue estimates from the Carl Walker firm were presented as $436,283 in year one, with a debt service of $566,452.
adjusted those numbers to reflect impacts such as summer traffic: rising revenue to $569,700 and reducing the debt service to $356,636.
The citys room occupancy tax, half of which goes to operate the City Center and half to a capital reserve, will be used to have the parking project break even, he said.
also noted that convention attendees would readily pay for good parking.
said citizens could safely trust the lending institutions that would support the parking structure.
Financial people dont lend money to projects that dont make sound fiscal sense, he
added that the City Center
and the city of Saratoga Springs are in partnership.
The city has oversight over the center.
This project wont impact property tax assessment, he
It isnt an albatross that will be problematic down the road, any more than any other public building.
emphasized that the City Center
Authority was committed to what it thinks is the right solution and the right location, but is open to other uses in the parking structures agora at ground level.
I feel the challenge in the community is that people are seeking the perfect solution, he
But there isnt one.
What the City Center
has developed is the best solution for the present and on into the future.
As for collaborating with the two developers who responded to the citys request for proposals for the High Rock parcel, Baker
said the two teams did not address the City Centers parking and connector needs.
No parking analyses or traffic studies had been done, and even the constructability of their projects was in question.
pointed out that the city councils technical review committee could recommend neither design.
The City Centers project, on the other hand, has gone through all the land-use boards and gotten approval after approval, he
The parking structure has merit and should be completed.
We want to be complementary and respectful to our neighbors.
didnt interpret anyone asking hard and insightful questions as not supporting the City Center
considered the city councils charge to be asking hard and insightful questions before making decisions.
Im hoping to have five unanimous votes on the parking structures lease next week, he
Some residents will find no satisfactory answers, he
But the City Center
Authority and these citizens would still share a community.
Its still my job to welcome people to the city, Baker