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TO: Mayor John Laesch
FROM: Brian W. Caputo, Chief Operating Officer
DATE: June 16, 2026
SUBJECT:
A Resolution Authorizing the Execution of an Agreement to Provide Parking for Residents of the Hobbs Building
PURPOSE:
The Administration seeks authority to execute an agreement to provide parking for residents of the Hobbs Building.
BACKGROUND:
The redevelopment agreement (RDA) approved by the City Council on September 24, 2019, and amended on February 23, 2021, through the adoption of Resolution R19-330 and Resolution R21-038 provided for the redevelopment of the Hobbs Building at 2 North River Street. The developer of the project concerned is JH Real Estate Partners, LLC. The RDA calls for the city and the developer to enter into a separate agreement to provide parking for the residents of the Hobbs Building.
DISCUSSION:
There are 31 housing units in the Hobbs Building. The agreement at Attachment A provides for parking for the residents of the building in the Tivoli Parking Deck. The initial price of the resident parking permits will be $40 per month. This is the same price that the city charges for (general) gold downtown overnight parking permits. This resident permit will enable Hobbs Building residents to park overnight in the deck seven days a week. The monthly rate will be subject to change consistent with changes in the rates for other downtown parking permits.
Ultimately, the city will obtain control of the Tivoli Parking Deck after the disposition of the old casino structure is determined. However, PENN Entertainment will likely retain control of the deck until sometime in 2027. Until the city gains control of the Tivoli Parking Deck, the Administration will provide parking spaces in H Lot, located north of the Hobbs Building and west of Middle Avenue. The price of these resident parking permits will be $30 per month. This is the same price that the city charges for (general) silver downtown overnight parking permits. This resid...
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