City, Parking Authority Set Amended Cooperation Agreement

$1,761,000 annually, payable in monthly installments

OTHER

Initial term of three (3) years from Effective Date, with automatic three-year renewals unless either party gives 90 days’ notice before a renewal date

Initial three-year term from the Effective Date with automatic three-year renewals unless either party provides written notice of intent to terminate at least 90 days before a renewal date. Subsequent annual payment amounts must be negotiated at least 90 days before future term renewals, or the $1,761,000 Payment Obligation continues. Agreement term runs concurrently with the Parking Facilities Agreement and may be terminated pursuant to provisions therein.

AgendaPacket