Claremont Council OKs Plan to Buy Parking Lot

The City Council, in its capacity as Redevelopment Agency, last week unanimously approved a $360,950 plan to acquire more public parking space by buying a Bank of America parking lot.

It also agreed to fund the construction of 18 more spaces for the bank on the site of its unused drive-through facility.

City code requires the bank, at the corner of Yale Avenue and 4th Street, to have 27 parking spaces. In addition to 25 spaces on-site, the bank owns a 52-space lot across Yale, just north of Walter’s Restaurant. That lot was appraised at $342,000.

Under the plan approved Tuesday, the city will buy the lot across Yale for $342,000 and will pay $10,000 for demolition of the drive-through--no longer permitted by city code--and construction of 18 spaces in its place. The rest of the money will go for legal fees.

The Redevelopment Agency also has agreed to reserve 11 public parking spaces near the bank for the use of its customers and employees.

Economic Development Director Peggy Proestos said the city paid over the appraisal price and granted concessions to the bank because the lot is an “ideal spot” for public parking. It is close to downtown merchants, some of whom do not have enough parking to meet city requirements. Those merchants pay “in lieu” fees, which the city applies toward purchase of parking spaces, she said.