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6.3.B. - Page 19 <br /> TJKM <br /> Transportation <br /> Consultants <br /> Table 5—Alternate Strategies and Range of Costs <br /> # Strategy Cost Total Cost Over Comment <br /> 10 years <br /> Restriping parking $2,000-$2 500 $2,000-$2,500 Restriping parking spaces for <br /> 1 narrower,compact or angled <br /> spaces per space per spacea <br /> parking <br /> 2 Valet parking $300 per space $36,000 per Allows higher utilization of existing <br /> per month spaceb parking supply <br /> 3 Shared/leased parking $200 per space $24,000 per For parking spaces during peak <br /> per month space demand periods. <br /> Shuttle service Assumes shuttle operations from <br /> 4 to/from transit $90 per hour $37,500 per 6:30-9:30am and 4:00-7:OOpm, <br /> stations per shuttle space` and reduced parking demand by <br /> 75 spaces. <br /> 5 Bike lanes and lockers $200,OOOd $8,000 per Assumes reduction in parking <br /> space demand by 25 spaces <br /> Transportation Annual budget of$250,000 <br /> 6 Management $250,000 per n/a includes staffing, marketing, <br /> Association year outreach/educational efforts,etc. <br /> $75 per $g 000 per Each employee receiving subsidy <br /> 7 Transit pass subsidy employee per <br /> space reduces parking demand by one <br /> month space <br /> Car-sharing reduces auto <br /> 8 Car-sharing n/ae n/ae ownership and thereby parking <br /> demand <br /> Notes:a:restriping is not necessary within 10 years. <br /> b:excluding any inflation/CPI adjustment for valet services <br /> c:two shuttles running 6 hours a day,5 days a week,52 weeks a year <br /> d:five miles of new Class II bike lanes and 50 new lockers at key facilities <br /> e:car-share providers and users pay for all expenses <br /> Recommendation <br /> Based on the true cost of providing a new parking space in a well-designed parking structure, <br /> average costs of recently built parking garages in urban areas of the San Francisco Bay Area Region <br /> and current in-lieu fees collected by other comparable cities, it is recommended that: <br /> a) The City of Redwood City revise the In-lieu Parking Fee to $25,000 per space. <br /> b) The City consider options for automatic annual adjustments on a specific date (e.g. every <br /> year on July 1)that are tied to an index (such as construction cost index)that reflects the <br /> increased cost of building a new parking space.Alternatively,the City could decide a fixed <br /> percent increase every year(e.g. 2 or 3 percent).This will eliminate any staff time needed <br /> to establish a percent increase tied to an index on an annual basis. <br /> 3. Payment Options <br /> Issue <br /> Should the City offer more than one payment option? <br /> Analysis <br /> Per currently adopted policies, upon approval by the Zoning Administrator, a developer pays the <br /> full amount in one payment, either prior to the issuance of a building permit or within 45 days of a <br /> Redwood City In-Lieu Parking Fee Study Page 112 <br />