1 FIRST AMENDMENT TO
PARKING MANAGEMENT SERVICES AGREEMENT
PARKING CONCEPTS, INC. (RFP No. 2083)
THIS FIRST AMENDMENT TO P ARKING MANAGEMENT SERVICES
AGREEMENT (“First Amendment”) is made and entered int o this __________ day of ____________________, 2024, by and between the CITY OF RIVERSIDE, a California charter city and municipal cor poration (“City”), and PARKING CONCEPTS, INC. , a California corporation (“Contractor”), with respect to the following:
RECITALS
WHEREAS, the City and Con tractor entered int o that certain P arking Management Services Agreement dated December 14, 2021 (“Agreement”); and
WHEREAS, the City and Contractor wish to allow for C ontractor’s additional use of an available portion of the building located at 3780 Market Street, Riverside, California for office space; and
WHEREAS, Contractor provide s Parking M anagement Services in accordance with Parking Rate and Hour Schedule Resolution attached to RFP No. 20 83 as Exhibit “F.” The Parking Rate and Hour Schedule Resolution is subject to amendment by City Council . City and Contractor agree that Contractor will continue to provide Parking Ma nagement Services consistent with the City Council Parking Rate and Hour Schedule Resolution No. 23978, as may be amended from time to time; and
WHEREAS, changes to p arking programs, rates, and hours of operation over the last three years lead to increased expenses to the City; and
WHEREAS, the Agreement is set to expire on December 30, 2024; and
WHEREAS, the City is satisfied with the Contractor’s performance; and
WHEREAS, the City and Consultant have agreed to extend the term of the Agreement by two (2) additional years through December 31, 20 26, with additional compensati on in t he amount not to exceed Seven Million E ight Hundred Forty -Seven Thousand One Hundred Fifty Two Dollars ($7,847,152.00), for the extended term of the Agreement.
NOW, THEREFORE, incorporating the recitals set out above, the parties hereto mutually agree to the following amendment to the Agreement.
2 1. Section 2, Term, is hereby amended in its entirety to read:
“2. Term. This Agreement shall be in effect for a term of five (5) years beginning January 1, 2022, through December 31, 2026, unless otherwise ter minated pursuant to the provisions herein.”
2. Section 3, Compensation/Payment, is hereby amend ed to increase the compensation in the amount of Seven Million E ight Hundred Forty-Seven Thousand One Hundred Fifty Two Dollars ($7,847,152.00), for the extended term of the Agreement.
3. Section 4.7 of Exhibit “A,” Office Space, is hereby amended to include the following:
“Contractor will also have the use of a portion of the building located at 3780 Market Street, Riverside , California, consisting of approxima tely 2,325 s quare feet as office space. Such use is terminable concurrent with th is Parking Management Services Agreement.”
4. Exhibit “B,” Compensation, is hereby revised and replaced in its entirety with Exhibit “B-1,” attached hereto and incorporated herein by this reference.
5. All other terms and conditions of the Agreement bet ween the par ties, which are not inconsistent with the terms of this First Amendment, shall remain in full force and effect as if fully set forth herein.
[SIGNATURES ON FOLLOWING PAGE.]