Stories indexed with the term ‘management incentive’

The Ann Arbor Downtown Development Authority’s public parking system contractor has again this year been awarded the full $50,000 amount of a discretionary management incentive. The vote came at the DDA board’s March 5, 2014 meeting.

Republic Parking’s contract with the Ann Arbor DDA covers just actual costs, but also includes a $200,000 annual management fee. Of the $200,000 management fee, $50,000 is awarded to Republic on a discretionary basis. [.pdf of DDA staff memo on Republic Parking management incentive]

It was last year, at the board’s March 6, 2013 meeting, when the DDA board decided for the first time in five years to award the full $50,000 of the incentive. The year before, at its Feb. 1, 2012 meeting, the board determined … [Full Story]

The Ann Arbor Downtown Development Authority’s public parking system contractor has this year been awarded the full $50,000 amount of a discretionary management incentive. Republic Parking’s contract with the Ann Arbor DDA covers just actual costs, but also includes a $200,000 management fee. Of the $200,000 management fee, $50,000 is awarded to Republic on a discretionary basis. The vote came at the board’s March 6, 2013 meeting.

For the first time in the last five years, the DDA board decided to award the full $50,000 of the incentive. Last year, at its Feb. 1, 2012 meeting, the board determined to award $45,000 of the discretionary amount. That matched the same figure awarded in 2011, 2010 and 2009.

The direct costs for … [Full Story]

At its March 2, 2011 meeting, the Ann Arbor Downtown Development Authority approved payment of $45,000 as a discretionary component of a management incentive for Republic Parking. While the city of Ann Arbor contracts with the DDA to manage the public parking system, the DDA in turn contracts with Republic to handle day-to-day operations. The DDA’s contract with Republic covers Republic’s expenses – roughly $5.8 million annually – plus pays Republic a “management incentive” of up to $200,000 per year. Of that amount, $150,000 is paid in monthly installments as a part of the contract, with the remaining $50,000 left to the discretion of the DDA board.

In making a recommendation to pay Republic $45,000 out of the maximum $50,000, a memo from DDA deputy director Joe Morehouse points to: (1) parking customer survey results that show 6-7% responses in the lower two scale points on a 5-point scale, and over 55% in the top two scale points; (2) an operating surplus that exceeded budget by $243,438; (3) independent facility cleanliness audit ratings of 93.7% – a slight increase over last year’s average of 93.4%; and (4) a dead ticket average of 1.61%, which is within the target of 1.75%, but more than last year’s 0.65%.

Mayor John Hieftje cast a vote of dissent on the approval of the incentive, as he has in previous years, but offered no comment at the board table on the issue.

This brief was filed from the DDA boardroom located 150 S. Fifth Avenue, Suite 301. A more detailed report will follow. [Full Story]