Md. Code Regs. 11.07.09.06

Current through Register Vol. 51, No. 26, December 27, 2024

Section 11.07.09.06 - Proposal Requirements

A. The Authority shall accept unsolicited vehicle parking facility project proposals from government agencies, counties, municipalities, nonprofit organizations, and private entities that demonstrate the feasibility and demand for the facilities within priority funding areas.

B. Proposals to the Authority for vehicle parking facility projects shall include the following information:

(1) A conceptual overview of the proposed vehicle parking facility project that details the need for the project and compliance with local and State land use, Smart Growth, and transportation planning objectives;

(2) An independent feasibility report that includes an analysis of market demand, operational and maintenance costs, and revenue estimates;

(3) An engineering analysis of the project, including architecture and design proposal, and construction costs and time frame;

(4) A financing plan that illustrates all sources of funding, including:

(a) The extent of financial participation by the proposer and other entities as applicable;

(b) The extent of the Authority's ownership interest in the vehicle parking facility;

(c) Compensation for Authority administrative overhead costs; and

(d) A revenue structure that supports all operating and maintenance costs and debt service;

(5) Minority Business Enterprise participation plans, as applicable;

(6) A description of the operation, maintenance, enforcement, and security of the vehicle parking facility, provisions for project management during construction of the vehicle parking facility, provisions for audit of the vehicle parking facility revenues, and a plan for regular and ongoing reporting to the Authority on the vehicle parking facility project status;

(7) A proposed schedule for financing and construction of the vehicle parking facility; and

(8) Any other additional information, drawings, plans, reports, or estimates that the Authority requires.

Md. Code Regs. 11.07.09.06