PORT ANGELES — City leaders are calling for action on a proposed parking garage touted as a solution to downtown parking woes.
“It’s time to be decisive,” city Economic Development Director Tim Smith told the City Council on Tuesday night during a presentation on the garage.
Smith is recommending the city go ahead with developing a $5.5 million garage on the Tidelands West parcel before securing financing from a private-sector partner, saying the move could successfully leverage funding from a proposed Oak Street hotel and conference center.
A study of the garage’s feasibility conducted by Seattle-based Ravenhurst Development Inc. shows developer Randal Jay Ehm, who is planning to build the hotel and conference center, would need to contribute $1.5 million to the construction of the garage.
Other funding would come from a $9 daily parking rate, a $1.5 million contribution in land sale proceeds and land from the city, and a 20-year, $2.5 million bond, Darrell Vange of Ravenhurst said Tuesday during the presentation.
—————
The rest of the story appears in the Wednesday Peninsula Daily News Clallam County edition. Click on SUBSCRIBE, above, to get the PDN delivered to your home or office.
