Brent Cagle

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2,705 appearances 14 recordings 3 series first heard Sep 2023 last heard 28 May

Brent Cagle’s voice in public audio — every appearance, attributed to the second.

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Charlotte City Council · City Council Business Meeting on 2026-01-12 5:00 PM - Jan 12, 2026 · 12 Jan 2026 meeting

But we do have a requirement to seek market value in our leases and that's true for all of our leases.

For transit parking, so CATS does own several parking garages and there are park and rides or they're utilized for employees.

But in a park and ride for a transit facility, we do not charge for parking.

However, this is not designated as a park and ride facility.

This is a lease for private parking.

So we establish the market value to lease the entire property.

We do not establish market value or market rate for parking fees.

That is not the business we're in.

So we have established the market value or the market rate, the fair market value for rent of this property.

We then conducted an invitation to bid and the highest proposer

because it's an ITB, an invitation to bid.

You select the highest to get you to the market rate, and that's what we did.

But we don't determine what the market rate for parking in the uptown market is for renting or taking a parking spot on a per spot basis.

Again, on this property for private parking, we look at the fair market value, the highest and best value for that lease of the entire property.

We also, the value of this lease, I believe it's somewhere in the $500,000 per year, goes back into supporting the transit system to provide affordable transit for the community.

And so these dollars come back to CATS and then get reinvested in the system.

Generally speaking, this lot, it's basically at the corner of Graham and Trade, is where this lot is.

This lot will ultimately be developed as part of the Gateway Station property.

But at this point, until we have a clearer picture of that, this lot has been used for private parking.

It was preferred parking before we made the recommendation for pivot.

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