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West Palm Beach CRA approves extension for downtown parking agreement, raises annual payment to $360,000
Summary
The West Palm Beach Community Redevelopment Agency unanimously approved Resolution 25-50 to extend a development agreement with Colonnade Clematis LLC securing 200 public parking spaces at 101 North Clematis Street, increasing the annual TIF payment to $360,000 and requiring an annual report for reimbursement.
The West Palm Beach Community Redevelopment Agency on Dec. 8 unanimously approved Resolution 25-50, extending the development agreement with Colonnade Clematis LLC to preserve 200 public parking spaces at the 101 North Clematis Street garage and raising the annual payment to $360,000.
Brad Nella, the CRA’s real estate manager, presented the amendment’s terms and said the change is intended to maintain core public parking that supports Clematis Street, Waterfront Park, the GreenMarket and downtown businesses and events. "We propose an annual payment increase to $360,000," Nella said, describing CPI‑based adjustments for future renewal terms and a five‑year renewal period. The amendment allows a CRA exercise of the first five‑year renewal and a second renewal option exercisable later with mutual agreement, staff said.
Jessica Keller, parking and mobility administrator, summarized an analysis of January–April parking data comparing the adjacent Banyan Garage and the Clematis garage. Keller said peak‑day demand could not reliably be absorbed by the neighboring garage and recommended the CRA extend the agreement. "Our analysis showed that on the busiest days of those months, we would not be able to absorb the additional capacity in the adjacent garage," Keller said, and recommended extending the agreement with the developer.
Staff added that the $360,000 payment is a TIF payment tied to reimbursement and that Colony Clematis LLC must provide an annual report documenting parking ticket counts as part of the reimbursement request. Jade Green, CRA deputy director, confirmed both parties must agree to any renewals. Commissioners clarified the mechanics of renewal options and the report requirement before voting.
Commissioner Fox moved to approve Resolution 25‑50; the motion was seconded and carried unanimously. The measure preserves continued public access to 200 parking spaces intended to support downtown commerce and events.
The CRA did not set an immediate date for exercising future renewal options; staff said the city and the developer will negotiate timing and CPI adjustments at the contractually specified points.
