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CC - CONSENT ITEM: Approval of an Amendment to the Existing Parking License Agreement with Century Wilshire Inc, which Owns and Operates The Culver Hotel to Extend the Agreement Term by 14 Months.
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Meeting Date: September 29, 2025
Contact Person/Dept: Elaine Warner/Economic Development Director
Phone Number: (310) 253-5777
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (09/24/2025)
Department Approval: Jesse Mays, Assistant City Manager (09/12/2025)
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RECOMMENDATION
Staff recommends the City Council approve an amendment to the existing parking license agreement with Century Wilshire, Inc. which owns and operates The Culver Hotel (The Hotel) to extend the agreement term by 14 months.
BACKGROUND
On January 15, 2011, an Owner Participation Agreement (OPA) was executed between the former Culver City Redevelopment Agency (CCRA) and Century Wilshire, Inc (The Hotel) which includes a Parking License Agreement (Parking Agreement) that provides the Hotel with employee, valet and guest self-parking in the City's downtown parking structures and lots. The OPA required a $2.1 million capital investment in the property which was completed in 2017. The agreement had an initial term of five years, with two five-year extensions ending on January 15, 2026.
In December 2020, the Hotel requested assistance in lowering parking costs by pausing the parking license fees/obligations as well as requesting an extension on the term of agreement for the duration of time the hotel was closed and unable to provide service due to the Covid-19 pandemic.
In August 2025, the City engaged Walker Parking Consultants to perform a parking rate study for the Downtown Parking Structures and meters to ensure competitive alignment with industry practices. The Downtown Parking Structu...
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