City Committee Approves $2.34 Million Contract for Management of Plaza Las Fuentes Valet Parking Services

The Municipal Services Committee on Tuesday approved a $2.34 million contract with Pasadena-based Parking Concepts Inc. for the management and operation of the Plaza Las Fuentes valet parking services for the Westin Hotel.

Vice-Mayor Andy Wilson and councilmembers Tyron Hampton and Felicia Williams voted to approve the contract. Councilmember Jessica Rivas was absent.\

The Plaza Las Fuentes parking garage was previously managed by Downtown Properties. In order to save costs, the city took over the management of the garage starting February 1 as part of a new city-wide parking operator contract.

Westin Hotel initially expressed interest in providing the service but eventually declined the city’s final offer to operate the valet service under a licensing agreement.

According to the report provided by the Department of Transportation, a total of four firms including Everpark Inc., LAZ Parking, and Prime Valet submitted proposals for the valet parking services.

Among the bidders, Parking Concepts Inc. was chosen as the firm’s proposal was rated the highest based on its Experience and Cash Management, Reporting and Audit Program.

The contract with Parking Concepts Inc. will cover three years until 2025. The contract provides an option of two additional one-year terms at the discretion of the City Manager based upon the performance and availability of funds.

According to the Department of Transportation’s report, the Plaza Las Fuentes Valet location is seen to generate approximately $1 million in annual revenues.

The new contract is expected to begin on April 1.