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6.3.B. - Page 16 <br /> TJKM <br /> Transportation <br /> Consultants - <br /> 0 / J Proposed office <br /> — — I -; -TV� buildingat <br /> California Street <br /> i 1 1 . —< ) (proposed In-Lieu Fee 1 gi E — li Payment for 25 spaces) <br /> (6,2.9) , <br /> ■ i ■ i <br /> [' II I I <br /> - is iri NN :r. <br /> Issues of Interest <br /> 1. Program Applicability <br /> Issue <br /> kriku Redwood City's current in-lieu fee program is applicable to all parcels within the Downtown Parking <br /> Zone. Is there a need or justification to revise the area boundaries? <br /> Analysis <br /> Most cities, comparable to Redwood City, with current in-lieu fee programs have set applicable <br /> area boundaries that cover the core downtown area. While it may be beneficial to the City and <br /> developers if the boundaries are extended beyond the core downtown, or if a second zone just on <br /> the perimeter of the core zone is created, it may also bring unexpected consequences that may <br /> dilute the purpose of the in-lieu fee program. For example, a development in the area immediately <br /> outside the Downtown Parking Zone may provide parking spaces and thereby lessen impacts of the <br /> parking demands within the core. <br /> Recommendation <br /> In absence of a need to expand the area eligible for in-lieu fee payments, no change to the current <br /> IT practice is recommended. <br /> 2. In-Lieu Fee per Parking Space <br /> Issue <br /> Redwood City's current In-Lieu Fee of$10,000 per space does not reflect the true cost of providing <br /> a new parking space. What is an appropriate fee? <br /> p" Analysis <br /> While there may be far more parking structures than other publicly accessed facilities such as parks, <br /> libraries and schools,the true cost of building a parking structure is not easy to identify. Vastly <br /> different land values, site-specific challenges, design characteristics, associated development type <br /> and local regulations all factor into the cost, and often play a key role in the decision to build a <br /> parking structure or pay an in-lieu fee. A developer is mostly concerned about the total cost of <br /> siAi building the required parking supply and lost developable area taken away by parking.The city <br /> planners and the community are rightfully concerned about the societal cost of adding a parking <br /> structure into the neighborhood and accepting the obvious negatives in terms of increased traffic, <br /> Redwood City In-Lieu Parking Fee Study Page 19 <br />