Common use of Shared Parking Clause in Contracts

Shared Parking. Developer shall make 200 parking spaces available for public use during the hours of 7:00 p.m. through midnight Monday through Friday and 7:00 a.m. to midnight on Saturday and Sunday. Developer shall continue to make such parking spaces available to the public unless Developer reasonably determines that the operation of such public parking service is not economically feasible, which economic feasibility shall be subject to the reasonable review and approval of the Planning Director. In addition, within one year after the final certificate of occupancy for the Project is issued (and thereafter on each anniversary date of such survey), Developer shall conduct a parking survey to determine the actual parking demand for the parking garage in the Project during the hours of 7:00 a.m. to 7:00 p.m. Monday through Friday. If the survey indicates that parking spaces in the Project can be made available for public use during the period between 7:00 a.m. through 7:00 p.m. Monday through Friday without interfering with the rights of tenants in the Project, then Developer shall use its commercially reasonable efforts to make such excess parking spaces available for public use during these hours. The use of the shared parking spaces shall be subject to the reasonable rules and regulations established by Developer, subject to approval by the City which approval shall not be unreasonably withheld.

Shared Parking. Developer shall make 200 parking spaces available for public use during the hours of 7:00 p.m. through midnight Monday through Friday and 7:00 a.m. to midnight on Saturday and Sunday. Developer shall continue to make such parking spaces available to the public unless Developer reasonably determines that the operation of such public parking service is not economically feasible, which economic feasibility shall be subject to the reasonable review and approval of the Planning Director. In addition, within one year after the final certificate of occupancy for the Project is issued (and thereafter on each anniversary date of such survey), Developer shall conduct a parking survey to determine the actual parking demand for the parking garage in the Project during the hours of 7:00 a.m. to through 7:00 p.m. Monday through Friday. If the survey indicates that parking spaces in the Project can be made available for public use during the period between the hours of 7:00 a.m. through 7:00 p.m. Monday through Friday without interfering with the rights of tenants in the Project, then Developer shall use its commercially reasonable efforts to make such excess parking spaces available for public use during these hours. The use of the shared parking spaces shall be subject to the reasonable rules and regulations established by Developer, subject to approval by the City which approval shall not be unreasonably withheld.