PowerPoint Presentation

Services Agreement for Parking Management
June 24, 2025
Presented by: Levi Gibson, Director, Budget and Finance

Agenda
2
• Background
• RFP Process
• Proposal
– Key Features
– Financial Benefits
– Other Benefits

City Investments in Parking
3
Location
# of spaces
Approximate 
Initial Cost
Approximate
Annual Cost
Annual Revenue
Bank of America Garage
568
$17.3 million
$175,000
$0
Westgate Lots
1,809
$5.0 million
$0
Renaissance Garage
900
$16.4 million
$202,615
Yellow Lot (PN)
2,710
$11.5 million
$0
Black Lot (PS) inc. Ped Underpass
4,011
$27.2 million
$210,000
$0
Youth Sports Fields
1,500
$6.6 million
$180,000
$0
•
Investments in parking fuel economic development
•
City receives direct sales tax on parking revenues
•
City receives indirect sales tax on activities in the surrounding businesses

Background
4
•
Purchased in 2015 as part of a parking settlement 
agreement
•
Finished construction 2018
•
Includes $3.5 pedestrian passageway under 
Cardinals Way
•
Added waterline for $1 million
•
Total cost $27.2 million
•
No economic development activity yet
•
To date no parking revenue generated

Objective
5
• Find the best parking management partner
– Demand for parking expected to increase with 
opening of VAI and Mattel Adventure Park
– Important to find a balance between the benefits to 
the city and the Westgate Entertainment District
– Understanding of demand fluctuations based on 
events
– Ability to parking settlement agreement

Request for Proposal Process
6
• RFP issued February 19, 2025
– Received four responses
– Evaluated by 3-member panel of city staff
– Notice of Intent to Award issued April 15, 2025
– No protests

Request for Proposal Process
7
• Criteria
– Experience and key management team members (40%)
– Understanding of the project (40%)
• Integrate into the success of the Westgate Entertainment District
• Work with key stakeholders
• Align proposal with the interests of the City
– Revenue sharing or management fees (20%)
• Panel recommends VAI Resorts, LLC as the most 
responsible and responsive proposal

Key Features of Agreement
8
• Experienced personnel
– VAI 
• Ben Yoo, VP of Hotel Operations
– Winstar World Casino, Thackerville, OK
– Wynn & Encore, Las Vegas, NV
– Polo Towers, Las Vegas, NV
– Partnership with Parking Management Company
• Bradley Lombardo, VP of Operations
– Over 10 years of experience
• Jeremy Larson, Regional Director of Operations
– Over 16 years of experience
• Bernardo Pereira, Area Manager 
– Over 9 years of experience

Key Features of Agreement
9
• Strong approach
– Synergy between security for parking lot and resort
– Dynamic staffing model based on knowledge of events
– High quality attendee experience
• Starts February 1, 2026
– Twenty-five-year (25) term
– Two 10-year options to renew at city’s discretion
– Total as many as 45 years
• City has the right to terminate or renegotiate
– 24-month notice

Key Features of Agreement
10
• Subject to Parking Settlement Agreement
– Will not manage or collect revenue on NFL event days
– Will not manage or collect revenue on Mega Event days
• Defined as over 40,000 in attendance
– Responsible for removing illegally parked cars at their cost
– Responsible for Operations and Maintenance
• Asphalt maintenance and striping
• Trash removal and sweeping
• Utilities and lighting
• Landscaping
• Graffiti removal
• Maintain two (2) retention basins

Key Terms of the Agreement
11
• Guaranteed fixed monthly fee starting at $500,000 per 
year
• Escalates by CPI or 3%, whichever is lower
– $562,764 in year 5
– $652,387 in year 10
– $1,016,397 in year 25
– Cumulative value of $18,229,632 over the 25 years

Key Terms of the Agreement
12
• Guaranteed fee
– Not dependent on the number of cars parked
– Not dependent on the # of NFL event days excluded
– Not dependent on the # of Mega Event days excluded
• Simplified reporting
– Responsible for reporting 2.9% sales tax

25-Year Financial Benefits
13
*Assumes taxable parking revenue of $1,000,000 per year
Description
Amount
Revenue
$18,229,632
Estimated Operations and Maintenance Savings
$4,406,520
Estimated Sales Tax Revenue*
$725,000
Grand Total
$23,361,152

Other Benefits
14
• VAI assumes the demand risk
– Autonomous vehicles
– Ride sharing
• VAI assumes supply risk
– Competitive parking market
• Westgate
• Stadium lots
• Other nearby parking
• VAI assumes inflation risk
– Cost of maintenance, utilities, etc.

Summary
15
• Glendale has a history of supporting economic development
• Generates direct and indirect revenue from this investment
• Agreement with VAI Resorts, LLC
– On the agenda for the voting meeting tonight
– Staff recommends award of RFP 25-46 to VAI Resorts, LLC

Questions?
16