Capital Cost
Overview
Project Description
Lot redesign, paving, infrastructure and landscaping of the Darling Lot. As there is an interest in covered parking, the project could potentially include a lot carport to provide some covered parking. The project would also include resurfacing of Petoskey Street between Michigan and East Mitchell Streets.
Project Justification
This is one of the City's oldest parking lots and improvements have been delayed for many years due to discussion of a parking structure. The asphalt is in very poor condition, with indentations where vehicle tires rest. However, the costs and issues associated with a stand alone or mixed use parking structure on this lot make it unlikely to be constructed. Improvement of the lot, with potentially the addition of some carport-covered spaces, may be a more actionable project. In order to not completely drain the Parking Fund Fund Balance, the funding of this project may require bonding.
Spend
| Expenditures | 2029 | Total | ||
|---|---|---|---|---|
| Project Cost | 1,700,000 | 1,700,000 | ||
| Total | 1,700,000 | 1,700,000 | 
| Funding Sources | 2029 | Total | ||
|---|---|---|---|---|
| Parking | 1,500,000 | 1,500,000 | ||
| Streets | 200,000 | 200,000 | ||
| Total | 1,700,000 | 1,700,000 | 
