July 10-11, 2003
ITEM 120-1012-R0703 Proposal to Lease a Small Portion of Property at the Dornblaser Field Location to the Missoula-Ravalli County Transportation Authority; The University of Montana-Missoula
THAT: The Board of Regents of the Montana University System authorizes The University of Montana to lease a portion of property to the Missoula-Ravalli County Transportation Authority for the purpose of constructing a building to house several vanpool vehicles and to house a Mountain Line bus transfer station.
EXPLANATION: In the 2002 Campus Master Plan for The University of Montana-Missoula, future parking development locations were approved for South Campus. The approved areas are currently under consideration for development as a multi-modal parking area and bus transit service center. The partnership for development will be between the Missoula-Ravalli County Transportation Management Association (MR TMA) and The University of Montana.
Funding for this project will be a Federal Transit Authority (FTA) grant in the amount of $450,000. Once the office complex/transit center and van storage facility are covered, the remaining funds will be used towards construction costs for building two new parking lots. This will help provide an additional 265 parking spaces. That amount is projected to be $140,000.00. In a recent appraisal provided by Kraig P. Kosena, of Kembel, Kosena & Company, Inc. the land value for the building sites is in the range of $6.50 a sq ft X 10,000 sq ft = $65,000--current market value. When you consider the remaining grant amount of $140,000.00 for parking lot development, the lease period and the value of the University land at $65,000, the cost benefit analysis reflects a plus for the University.
In exchange for the lease, the University will benefit in the following manner:
1. An additional 265 new parking spaces will be created at this location. As a multi-modal project, the parking will be available for commuters, sporting events and special event requests.
2. Public restrooms will be provided, along with an indoor transit service waiting room. Currently there are no public restroom services at this location.
3. Since there is no area lighting in this location, it will improve safety and security for the students and commuters by providing lighted and safe landscaping.
4. By having the building occupied, we gain additional daytime security for the area. In addition, the MR TMA staff will be able to assist those who want to participate in the vanpool programs. Currently, about fifty percent of the area vanpoolers are members of the campus community.
5. With the addition of the South Transit Center, headway delays, the time required to wait for the next bus, will be less than 15 minutes. This will be a marked improvement of service for students living in family housing, students attending classes at the two Missoula College of Technology campuses and students who use the Park-Ride shuttle bus program.
ATTACHMENT: Real Property Lease for the site of Missoula-Ravalli County Transportation Management Association vehicle storage and South Side Transportation Demand Management (TDM) Facilities.