Common use of Shared Parking Clause in Contracts

Shared Parking. In furtherance of the XXXX’x shared parking policies and consistent with providing sufficient on-site parking for the Project’s users (whether with or without implementation of stacked parking) , Developer may make any unused on-site parking available for monthly lease at market rates to third parties in the surrounding area in need of parking, including area residents, businesses, and employees, (“Shared Parking”) if (i) Developer obtains a written report by a traffic and parking engineering firm that demonstrates that the proposed additional parking spaces to be leased to third parties are not needed to meet the Project’s peak parking demand, (ii) Developer submits such report to the City for review and approval, and

Shared Parking. In furtherance of the XXXX’x XXXX‟s shared parking policies and consistent with providing sufficient on-site parking for the Project’s Project‟s users (whether with or without implementation of stacked parking) , Developer may make any unused on-site parking available for monthly lease at market rates to third parties in the surrounding area in need of parking, including area residents, businesses, and employees, (“Shared Parking”) if (i) Developer obtains a written report by a traffic and parking engineering firm that demonstrates that the proposed additional parking spaces to be leased to third parties are not needed to meet the Project’s Project‟s peak parking demand, (ii) Developer submits such report to the City for review and approval, and