What's the value of a downtown parking place?
To merchants who depend on customers' ability to park and shop, Center Street parking stalls are priceless.Lisa Witham, co-owner of Los Hermanos restaurant, said last August "every parking space is worth its weight in gold." She made the comment just before 11 stalls in front of Nu Skin International's building were absorbed into the sidewalk to make room for a fountain.
But according to Provo City, the 11 stalls aren't worth near what downtown business owners think.
In fact, Mayor Joe Jenkins has placed a value on the property: Less than $5,000. At most, each of the 11 spaces is vaguely worth $454.54. At least, well, zero divided by 11 is zero. The property is roughly 168 feet long, 33 feet wide.
"I have a hard time believing it's less than $5,000," Councilman Jim Daley said.
Stalls in downtown parking terraces are worth 10 times what stalls are on the street. For instance, the 220 spaces in the $1 million Town Square parking terrace under construction will cost $4,545.45 apiece, or $50,000 for 11, to build.
Jenkins and City Council members agreed on the under-$5,000 appraisal Tuesday night after Councilman Ben Porter wondered if it was legal for Jenkins to sell, lease or rent Nu Skin the property without council consent.
Gary Gregerson, city attorney, and Mike Thornton, City Council attorney, said maybe it was, maybe it wasn't. It all depends on whether the land was worth under $5,000. The law allows the mayor to make transactions of less than $5,000 without council approval.
Besides, Jenkins said, he didn't sell or lease the property to Nu Skin. Provo and Nu Skin signed an encroachment agreement in March. That means the multilevel marketing company can use the space for a fountain and must assume liability for it.
Nevertheless, council members said Jenkins should have brought the agreement to them for ratification.
The council voted to approve the mayor's action and declared the property to be worth less than $5,000.
"I'd hate to see us go back and ask Nu Skin to tear out what's been done," Council Chairman Don Butler said.
At least Nu Skin wouldn't have had to dry up the fountain; it hasn't been built. Nu Skin spokesman Jason Chaffetz said it's at least a year away.
"It really will be a nice fountain," he said.