Get Down Memphis

Pre-Proposal Conference - Questions Answered

Q. Is there a plan to increase day and transient rates?

A. Yes. While we are sensitive to the users’ needs and what is acceptable in our market, we are interested in determining if there are ways to increase the profitability of the garages and this might be an option. Please provide suggestions on parking rates; however, DMA reserves the right to approve or decline any significant changes.

 

Q. Will some of the garages listed on the RFP be removed or replaced?

A. Yes. Currently, Riverside Garage is slated to be changed in conjunction with the development of the Brooks Museum. We estimate that any changes will not occur until at least a year from the contract start date.

 

Q. Regarding Riverfront Garage, should applicants propose changes?

A. Only if the changes are short-term and low-cost and will improve user-experience or profitability.

 

Q. Are the financials for each garage available for review?

A.See linked document - Garage Financials 2019

 

Q. Is there any expectation that the operator would invest capital?

A. Historically, the DMC has created an agreement with each garage detailing what is expected from both parties. Typically, capital improvements have been taken care of by the DMC. {Insert sample/draft agreement}

 

Q. Considering there may be some investment, would the DMC/DMA consider extending the contract term beyond 24-months?

A. Yes. Our hope is to find operators who will continue to innovate and improve the user experience during the initial 24-month term, and who will become long-term partners. 

 

Q. What is the overall plan for Downtown parking?

A. See the Parking Study Plan here.
The findings direct us to 1. Use available parking first, 2. Encourage alternate mobility options - mass transit, ride-sharing, etc., 3. Add new parking sparingly and strategically, where it will unlock more development or serve multiple community needs. 


Q. Does the DMA own the two T2 Luke II Digital Machines currently installed at the Riverfront Garage?
A. Yes, the DMA owns the two machines at this location.

Q. Can the DMA provide parking rates for all facilities covered in this solicitation (hourly, monthly reserved, monthly unreserved, etc.)
A. Currently, all rates are Memphis market rates, including special event rates.

 

Q. Can the DMA provide details of validation agreements currently in effect at the various facilities?
A. All agreements are no more than month-to-month. All can be adjusted as part of new management.

Q. Will the DMA please confirm whether there are specific forms to complete as part of the Contractor’s response to show DBE participation?
A. There are no specific forms that need to be completed.

Q. Can the DMC please clarify if the required surety bond of $150k covers the entire portfolio of garages? 
A. We will accept one surety bond of $150,000 for entire portfolio or combination of garages proposed.  The bonding company needs to be licensed in State of TN and listed on the Federal Register.

Q. In lieu of a surety bond, would a letter of credit be acceptable? 
A. We prefer a surety bond.

Q. Can the DMA please clarify if the DMA will pay the $1,000 deductible per claim for Garage Keeper’s Liability Insurance? 
A. DMA will pay the deductible out of net revenues from operations.