May 19-20, 2005

 

ITEM 127-134-R0505                  Construct New Parking Lot, East Broadway, The University of Montana-Missoula

THAT:                                       Consistent with the provisions of MCA 18-2-102, the Board of Regents of Higher Education authorizes The University of Montana-Missoula to construct a new parking facility on the campus property north of the river on East Broadway. This project, at an estimated cost of $600,000, will be financed $110,000 from Parking account funds and $490,000 in an Intercap Cap loan to be re-paid with the increased parking fees.  The new lot will add approximately 250 new parking spaces to the campus inventory and provide expanded services of the park n ride to the North side of campus.

 

EXPLANATION:                        This request is contingent onthe Board of Regents of Higher Education approval of a fee increase for both the parking and transportation fee submitted at this meeting.  The students through a referendum voted to increase the both fees in support of this project.


ITEM 127-134-R0505 ATTACHMENT:

 

Board of Regents Policy: Physical Plant - Section 1003.7

 

This authority request is for an amount greater than $150,000, which requires the following additional information:

 

(a) Project Description:

The work performed under this authority encompasses the construction of a new parking lot on university property on east Broadway, including paving, curbs, signage, striping, lighting, landscaping, storm drainage systems, access drives, and associated pedestrian sidewalks.

 

(b) Cost Estimate and Funding Sources:

Parking Lot and Bus Shelter Construction                                          $505,000.00

 

Engineering and Project management Fees                                          $70,000.00

 

Contingency                                                                                      $25,000.00

 

PROJECT TOTAL                                                                             $600,000.00

 

This project will be financed with parking system revenues, and an Intercap loan.

 

(c) Programs Served, Enrollment Data, Projected Enrollments:

N/A

 

(d) Space Utilization Data:

The new lot will add approximately 250 new parking spaces to the campus inventory.

 

(e) Projected Use for Available Residual Space:

N/A

 

(f) Projected O&M Costs and Proposed Funding Sources:

O&M costs for all surface parking facilities are fully borne by the Parking Operations Account.  New and replacement surface parking facilities are designed to achieve a 40 year useful life, with proper periodic maintenance, which includes annual re-striping, five-year re-coating, and 20-year re-surfacing (two full cycles).