There’s a proposal going before Rochester City Council to authorize the sale of the underground garage at the former Midtown Plaza site.
Mayor Lovely Warren has sent legislation to City Council looking to sell the parking garage and an adjacent surface parcel of land for just over $5 million.
The proposal calls for the garage to be sold to an entity formed by Buckingham Properties, Morgan Properties and Pike Development.
Warren notes that a year ago, engineers estimated that the cost for operating, maintaining and repairing the garage over the next 15 years will be more than $10 million.
The deal calls for the developers to assume the obligation to repair and maintain the garage.
Warren says that by acquiring the garage and the surface parcel, it would allow the developers to use parking spaces to recruit tenants to fill out their buildings in the immediate area and encourage additional development in that part of the city.
The proposed legislation goes to City Council on November 15th
