Requesting approval of a transfer of $30,020 from the Parking Department Parking Meter Receipts Account to the Capital-Building Lease Account for rental of parking spaces per the lease agreement between the Trustees of Tufts College and the City of Somerville.

To the Honorable City Council: The Mayor respectfully requests that this Council approve the transfer of $30,020 from the Parking Department, Parking Meter Receipts Account (Org 1070-Acct. 43710) to the Capital-Building Lease Account for the purpose of funding the rental of up to 79 parking spaces at the Tufts Administration Building on Holland Street per the negotiated lease agreement between the Trustees of Tufts College and the City of Somerville. The Agreement stipulates a Parking Rate of $38.00 per month for each space for a total of $3,002.00 per month. The appropriation is for the period September 1, 2023 to June 30, 2024. Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter. Respectfully Submitted, Katjana Ballantyne, Mayor