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City Garages Proposed Near N Sixth Avenue
A planning memo outlines two municipal garage options on North 6th Avenue and Church Avenue. The larger lot would hold 485 spaces plus peak capacity for 100 more, with 361 spaces at the other site. Estimated costs total about 1.218 million to 1.332 million, with per space costs around 2 dollars and projected first-year gross incomes near 181 thousand dollars, net about 126 thousand. Later-year incomes rise, with Church Avenue project showing 151 thousand gross and 91 thousand net. revenues depend on parking rates from 20 cents to 1 dollar per block. Consultants assume no taxes and 75 percent coverage of debt retirement and costs for marketability.
MENTIONED IN THIS ARTICLE
N. 6Th Ave
Cammel
Church Avenue
Park & Shop
Homer