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_ i _ __ <br /> 10/12/2015 <br /> 6.3.B. - Page 15 <br /> TJKM <br /> Transporta[ion <br /> Consultanu ,... __.... <br /> • <br /> � �u�� ��:,� V���' �� <br /> .� .. <br /> �, o-�� <br /> :�� <br /> �-°�`� ,;:� � <br /> , <br /> � �l �b��i <br /> --� A m <br /> � s � . �,� <br /> � 550 Allerton Street— ' � � � � � *°�m�� �'�'� <br /> �,�� ��, •. f.. <br /> � � . t � � <br /> Approved office i : ����� �`�,.��, 5 <br /> building(In-Lieu Fee � "���� � � f�� j ��� `"� <br /> Payment for 60 spaces) <br /> .v��.; ,,,�""--� <br /> ___..�. , �ra I���"�� <br /> , �� 1, , <br /> � <br /> .�,m. . , __ �..;�, .., . . ,... <br /> 815 Hamilton Avenue-Approved <br /> office& retail development <br /> (In-Lieu Fee Payment for 115 <br /> ' spaces) <br /> � <br /> ' A 2013 report on the Redwood City Parking Program estimated a shortfall of 73 spaces during the <br /> ' weekday peak demand during the current period of construction. However,the predicted weekday <br /> ! midday parking shortage has not materialized and there continues to be an adequate supply of <br /> i weekday parking.Although downtown parking conditions have changed since the study's <br /> � completion, it is appropriate to predict that accepting in-lieu fee payments for the 450 (175 from <br /> • <br /> � `' approved projects+275 of requests)spaces identified above could generate the shortfall identified <br /> ' in the 2013 study if no additional parking spaces are constructed.The current fund balance and <br /> ` other potential revenue sources are short of the actual costs of building new,structured parking <br /> facilities. Revising the "per space"fee and expanding the toolkit to include numerous <br /> transportation and parking related strategies are therefore very critical to maintain a healthy <br /> P ' parking supply/demand balance and to preserve the vibrancy of the downtown Redwood City. <br /> ' Redwood City strives to improve its In-Lieu Parking Fee Program such that it remains an option for <br /> developers and becomes more effective at addressing transportation and parking needs.The City's <br /> Community Development Department staff, Economic Development+ Downtown Subcommittee <br /> and Parking Advisory Committee have discussed this matter and fully support exploring meaningful <br /> ' revisions that will improve the overall effectiveness of the program without diluting its <br /> $ '" attractiveness to the developers.To that end,the City has identified several key issues for further <br /> T� ' analysis and refinement. Each of the following issues captures Redwood City relevant information, <br /> ' experiences of otherjurisdictions with similar dynamics and recommendations. <br /> Redwood City In-Lieu Parking Fee Study Page � 8 <br /> 10 RESO.#15448 <br /> MUFF#703 <br />