Miami Design District, city unite to support valet services
An agreement between the Miami Parking Authority and Miami Design District Associates LLC will help financially support a valet parking service in the growing neighborhood of luxury shops and establishments just north of I-195.
At its December meeting, the city’s Off-Street Parking Board approved the agreement unanimously.
Money from a special trust fund will fund the Miami Design District Associates (MDDA’s) operation of seven valet parking stations using 29 on-street parking spaces within the Design District.
A background memo from authority CEO Art Noriega says the City of Miami Design District Improvement Committee met Nov. 19 regarding the Miami Parking Authority Valet Parking Services – Funding Agreement between the parking authority and the MDDA.
“The MDDA, through its subsidiaries and affiliates, currently owns properties within the Design District and consequently, has expended a significant amount of funds to provide parking facilities,” the memo says.
The Design District Parking Improvement Trust Fund, which is administered by the parking authority, is intended to facilitate parking within the district. Money from the fund will pay for the valet services.
The deal calls for the fund to pay the parking authority $10 per day to use each of the 29 spaces for five years. During a renewal period of an additional five years, the fund will pay the authority $15 per day for each space.
The new agreement spells out total amounts and when lump sum payments must be made.
For the initial term, from Jan. 1 to Dec. 31, 2023, a lump sum of $529,250 must have been paid by Dec. 31, 2018. For the renewal from Jan. 1, 2024, to Dec. 31, 2028, a $793,875 lump sum must be paid on the first business day of the term.
City code established a parking improvement trust fund for the Coconut Grove Business District and separately for the Design District.
Each trust fund takes in payments from eligible property owners and developers who are granted a waiver for required off-street parking spaces; the fee is in lieu of providing a required space.
The parking authority administers each trust fund, and funds may be withdrawn to facilitate parking within the designated area, including public off-street parking, infrastructure improvements and maintenance, and marketing of the area.
Money from the trust funds may be used to:
■Acquire interest in land and other real property for parking.
■Construct, maintain, operate, lease, manage or provide off-street parking facilities for public use.
■Provide public information to enhance parking including publicity campaigns, graphics and signage, and other informational devices.
■Coordinate plans for parking facility improvements or expansion in conjunction with public transportation plans and operations nearby, particularly joint facilities that might be run in connection with Metrorail and any feeder services.
■Provide accessibility to off-street parking facilities by means such as public shuttle, tram or trolley service or related improvements such as bus shelters and right-of-way modifications.
■Perform related activities like infrastructure improvements in the public right-of-way, contributing to maintenance of the public sidewalks within the business district, and destination marketing.