The City of Butler will once again consider a proposal to sell the Tier Parking Garage.
An item on the City Council meeting agenda for Thursday night is a motion for approval of an updated term sheet from Transportation Services Consultants for the sale of the Tier Garage as well as “a management interest in City’s other Assigned Parking Assets.”
Earlier this month, Council rejected a previous term sheet version that included two parking lots beside the City Building with a total offering price of $3.75 million.
This new term sheet motion has a price offer of $3.5 million and does not include those other two outdoor lots. The revised offer will also decrease the projected fine amount for parking violations from $30 to $15 with a $2 increase per year until it reaches $20. The current fine for a meter violation is $10.
According to Mayor Ben Smith, the new proposal addresses the main concerns raised by the three council members who voted to oppose the previous plan.
“After it was voted down last time, I kind of expected them to walk away. But, they came back and in my opinion they addressed all the issues that anybody had, and kind of sweetened the pot frankly” Smith said. “Even though I was okay with the things people had objections to, they weren’t my favorite things. So to basically remove those from the equation makes it even better.”
The “management interest” in other parking assets refers to the installation of payment kiosks in place of current coin meters and a contract with the city to monitor and maintain the equipment.
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