Third Coast In The News

Kimball no fan of parking proposal Commissioner questions his stance, Editorial, The Grand Rapids Press, Grand Rapids, Michigan, Apr 21, 2007

GRAND RAPIDS -- Selling off two-thirds of the city's downtown parking system would turn it from a money-maker into a money-loser, according City Manager Kurt Kimball.
In a memorandum to city commissioners released Friday, Kimball recommended against entering into negotiations with Third Coast Development Partners, a local group that offered to buy or lease 4,478 of the 7,250 parking spaces the city owns in the downtown area.

"I can find no good reason to begin an arduous and expensive course of action that would lead to the breakup and disposition of an effective enterprise that is a proven economic tool," he said.

Commissioners are scheduled to take up Kimball's recommendation Tuesday.

Kimball said Third Coast probably won't be able to afford to pay what the parking facilities are worth to the city, especially if it keeps its promise to hold down parking rate increases and offer free shuttle services.

Third Coast Principal David Levitt said Kimball's argument is premature and ignores some of the tax benefits the group can reap as a private operator.

"It's not like we haven't done an analysis," he said.

Third Coast has said it could pay between $35 million and $45 million for the four ramps and 10 parking lots it wants to operate.

Second Ward City Commissioner Rick Tormala, the commission's leading champion for the proposal, said he doesn't understand why Kimball doesn't want to explore Third Coast's offer.

"He seems to be fighting this with every fiber of his being. What really puzzles me is what his motivations would be," Tormala said.