City to Gain Parking Revenues
Public Works & Urban Development Director Jennifer Wenson Maier explained that 110 East Fifth Street LLC needed room for 45 employees of an unnamed state agency that will be occupying the building at that location. The building is among a number acquired by Paramount Property Management under various subsidiary names.
Wenson Maier said the permit arrangement is for two years and the income will pay for resurfacing and re-striping of the municipal lot. There is currently only one permit holder, a resident who lives nearby. The lot has about 70 parking stalls, with about eight parking meters and the rest for permit use only.
The lot adjacent to the building at 110 East Fifth Street is much smaller and is in disrepair.
At $25 per month for 45 parking slots, the city should receive $13,500 annually, up from $300 for the lone permit holder.
The last major permit-holder was the Division of Youth & Family Services, which was formerly located in the building at 700 Park Avenue. The agency had to relocate due to conditions at the building, which has since changed hands.
Under the new proposal, employees of the unspecified new agency will have to walk two blocks north to the building at 110 East Fifth Street.