[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6214568,"mediaKeyId","3666472-b027aa3361f895efd42e8fa4f03e23c9","parentId",3666472,"title","Missoula Parking Commission adopts FY 2026 budget; approves $3.49M CIP for Bank Street repair","audioSeconds",2301,"startMs",1397000,"endMs",3698000,"viewUrl","/Search/View?dp=1&key=3666472-b027aa3361f895efd42e8fa4f03e23c9&start=1397&end=3698","thumbnailUrl","https://assets.pipeline.soar.com/3666472-b027aa3361f895efd42e8fa4f03e23c9/thumbnail_1397000.jpg","articleUrl","/articles/6214568/Missoula/Missoula-County/Montana/Missoula-Parking-Commission-adopts-FY-2026-budget-approves-349M-CIP-for-Bank-Street-repair","mediaUrl","https://secure.pipeline.soar.com/6214568-e7a5e18cd1adc7f74849a1c784347190/orig.mp4?Expires=1771189141&Signature=Bo8WMJROCaW2O-nvycygyV8LTENxRjMGpCIzIQx7ldxl7Cw2Wx-8iGWXmK1JwyEGlSdWAHWqYBsDsOu5J3-7IeWxTCT20f51RBEfwNB7KHaTtd6OOyNim~GZ40iaNgqujdsyCZgqGghP~SP0aMKamvpDE7~Ti6xseL4b1O2x59-utbG6-pv8Ejf2oPh8~WYuWHbNZw~4DCtdAq70L7B-PLPF~NnChpYE0gzCbAgTSCHnvmmenx7CRXVonQpN-7e~jAwmTBxeHamj9MXZ70bAbcky41hceYqOYXTeftoFnbAbQzJeaIBNVdD3ULLCaHXAAOzlWSIhQosr~OboUzEjPw__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Missoula, MT","date","2025-06-05T00:47:32Z","article","The Missoula Parking Commission adopted its fiscal year 2026 budget, approved capital requests including a $3,490,000 updated CIP for Bank Street garage repairs, and authorized moving forward with next steps to finalize financing.

Jody, the commission director, presented the proposed FY 2026 budget and CIP requests. The commission approved the budget by voice vote (three members present), with no public comments recorded on the motion.

Steve, a financial advisor with MCAT, summarized financing scenarios for the project and recommended pursuing a 20-year \"wrap\" structure with a private bank solicitation. Steve said the 20-year wrap \"provides good flexibility. It keeps costs down overall,\" while balancing repayment flexibility and near-term coverage requirements tied to existing parking revenue bonds. He explained that a 15-year term would lower total interest costs but reduce revenue flexibility in the near term, and that smaller financings in the $4 million range point toward a bank sale (private placement) for flexibility and prepayment options.

The budget presentation included updated revenue and expense projections. Jody noted that city council approved fine increases that will go into effect Jan. 1, 2026; staff left parking-ticket revenue conservative because of uncertainty in how increased fines will affect citation volume. The budget lists projected revenues of $3,225,600 and shows an estimated debt-coverage metric above bond requirements under several scenarios.

Key budget details and capital requests approved or advanced:

- Bank Street garage repair: updated CIP request of $3,490,000 based on Jackson Construction estimates for repair rather than full replacement.
- Fixed license-plate-recognition (LPR) system for garages: $123,004.55 (CIP request) to replace gates and enable different permit-sale approaches.
- New operating requests: full-time conversion for an administrative specialist ($24,007.55), additional LPR units for scooters (~$125,000), and a maintenance trailer (total new operating requests ~$161,605).
- Personnel expenses projected at $1,117,316, reflecting an assumed 3% COLA for nonunion employees and an estimated 4% for union positions pending collective-bargaining outcomes.
- Current commission reserve fund: $966,000; staff estimated that approximately $285,060 of cash-on-hand would cover certain one-time items (fixed LPR and new requests), leaving a comfortable projected ending cash balance for FY 2026.

Jody discussed pedestrian-safety mitigations for a gateless fixed-LPR garage entry (rumble strips, speed humps, and signage) and said an RFP could include options for recommended traffic-calming features. Steve outlined next steps for financing: finalize project costs in early July, then issue a term sheet and solicit bank proposals to structure a flexible 20-year wrap loan.

The commission approved the FY 2026 budget as presented; staff will return on July 8 with updated financing details and a recommended term sheet.","mediaType","Video","parentTitle","Missoula Parking Commission June 3 2025","oneSentenceSummary","The commission adopted the fiscal year 2026 budget, approved capital requests including a $3.49 million Bank Street garage repair CIP, and heard financing guidance recommending a 20-year wrap bank structure.","taxTitle","Missoula, Missoula County, Montana","taxId",4050,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6214573,"Missoula Parking Commission approves $2.25 million GMP amendment for Bank Street garage repairs",2762,156000,2918000,"/Search/View?dp=1&key=3666472-b027aa3361f895efd42e8fa4f03e23c9&start=156&end=2918","https://assets.pipeline.soar.com/3666472-b027aa3361f895efd42e8fa4f03e23c9/thumbnail_156000.jpg","/articles/6214573/Missoula/Missoula-County/Montana/Missoula-Parking-Commission-approves-225-million-GMP-amendment-for-Bank-Street-garage-repairs","https://secure.pipeline.soar.com/6214573-c944d03b69fc644b4c972ae940d9da17/orig.mp4?Expires=1771189141&Signature=Zb8ZHXBx6gMhxC-x35PYNni06TTdFtTqV1eoFf1jzUgn8XmZpPwYUPjq43S8Kf9vO82ag4b6AhPcym0e5suSpvYuwMPn-5OP5FAJeoNZSXz~wf63xnG8bv33WZEOZjNe3sZk4Ze0YUy86BELXjWJHDfCiCMxo4awvkpGNNIWq3hLBU1E4U2-WmwgceHgUdx18CQzYILiTgeUTnRirL26ztD2JpY43B~lLAHWiO3MpaxKSmS-AN~--f9CG9mfYBw5evpfFKIbi76ur632uxOA0aDkIxfFiQ7oEtv7T-Qq45LVYNJI4Wus9mz4nBYxS59zH7ew3mJNIAqq8rZ8ZBwk0A__&Key-Pair-Id=KUT5TJCACFTXG","The Missoula Parking Commission on a recorded vote approved a guaranteed maximum price (GMP) amendment for bid package 1 of the Bank Street garage repair project, authorizing the director to sign the amendment and allowing contractor mobilization to begin immediately.

The vote approved a GMP amendment in the amount of $2,254,318.62 for bid package 1 with Jackson Construction. The amendment covers site general conditions, demolition and concrete repair scopes, self-performed work by Jackson, structural steel erection for the canopy and vehicle entrance barricade, and a contingency allowance for shear-tab (\"tea biscuit\") repairs. The commission recorded aye votes and the motion passed; the director was authorized to sign the amendment.

The amendment is the first of multiple bid packages intended to accelerate weather-sensitive work, particularly the traffic-bearing membrane on the upper deck. Tyler, a Jackson Construction representative, said the split into two bid packages \"buys us about a month on schedule\" by allowing the team to start time-sensitive repairs sooner. The construction schedule presented targets approximately seven months of work, with substantial completion in early December and final completion the following week.

A single allowance in the GMP covers additional shear-tab repairs on precast double-Ts. The budgeted count is 306 locations; Jackson estimated a $425 credit per location if fewer are required, and the allowance covers the possibility that additional repairs will be needed after in-place inspection. Tyler explained, \"we only know the final count once we get out there and actually do it,\" and described the allowance as a practical means to avoid an expensive, full exploratory jacking operation before work starts.

Jackson plans to self-perform most work in package 103A, including demolition, forming, placing concrete, reinforcing, and jacking and bearing-pad replacement; the firm expects to use unit-rate subcontractors for smaller tasks such as saw cutting and planter removal. Construction critical items—bearing pads and jacking equipment—were ordered to arrive the week after the meeting, and Jackson indicated it expects to issue subcontracts and give notices to proceed within days.

Commission discussion noted budget movement from earlier estimates: original pre-value-engineering estimates totaled roughly $3.9 million for related work; after value engineering that target was trimmed to approximately $3.4 million across both packages. This first GMP arrived slightly under the bid-package target but, when the allowance is fully included, shows a modest overage; staff said unspent contingency would return to the owner. The commission also discussed site management and public-safety concerns: one commissioner emphasized the importance of \"public safety, cleanliness of the site, [and] organization of the site\" as conditions of contractor performance.

Next steps: Jackson will mobilize and begin the work described in the GMP package, staff will report updated counts and allowance projections at the July 8 meeting, and the director was authorized to sign the amendment so work can proceed.

","The commission approved a guaranteed maximum price (GMP) amendment with Jackson Construction for bid package 1 of the Bank Street garage repair project, authorizing immediate mobilization and setting next reporting steps for July.","actionData","errors"]

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Missoula Parking Commission adopts FY 2026 budget; approves $3.49M CIP for Bank Street repair

Missoula Parking Commission approves $2.25 million GMP amendment for Bank Street garage repairs