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Resolution of the Mayor and Council of the Municipality of Princeton Authorizing Execution of the First Amendment to the Dinky Train Station Parking Lot License Agreement with the Trustees of Princeton University
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WHEREAS, Princeton entered into a license agreement with the Trustees of Princeton University ("University") dated December 9, 2013 in order to authorize the installation of multi-space parking pay stations for parking within the Dinky Train Station Parking Lot and for certain parking spaces on Alexander Road and University Place ("License Agreement"); and
WHEREAS, following a two-year test period for the multi-space parking pay station system, by resolution adopted on July 25, 2016, Princeton accepted title to the multi-space parking system and the License Agreement between the parties for the said multi-space parking system was extended until January 31, 2026; and
WHEREAS, the University maintains the 103 spaces that are the subject of the License Agreement and the surrounding property, Princeton is responsible for the annual operating expense for the multi-space parking management system and Princeton collects and keeps all monies from meters at the 103 spaces; and
WHEREAS, the parties agree that the License Agreement is mutually beneficial to the parties and is in the public interest, and therefore, wish to extend the License Agreement for a term of five years, and terminating on January 31, 2031.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of Princeton as follows:
1. Princeton agrees that the December 9, 2013 Dinky Station Parking Lot License Agreement between Princeton and the University, as extended by resolution adopted on July 25, 2016, shall be extended to January 31, 2031.
2. The Mayor and Clerk are hereby authorized and directed to execute the First Amendment to the Dinky Station Parking Lot License Agreement with the University. A copy of the License Agreement and First Amendment shall be on file in the O...
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