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i _ I 10/12/2015 6.3.B. - Page 16 TJKM ! Transportacion j Consuftants • � ,��:� Proposed office ��;ta � r��, building at 30 � ��'� "� �� California Street } � �� . � � �� (proposed In-Lieu Fee i -4--- F �� A � � Payment for 25 spaces) ., _.. , .�_ µ � � � � .., i __�_�_ . � , .� �;;...__�-^, � � �--�--� --$—• ' , I� _ ;= �"'�''� ..�.;� � . � . � . ' Ty _,. �.��l ��, .� ___.__w. � p � � � j Issues oflnterest '; 1. Program Applicability 'f Issue ; Redwood City's current in-lieu fee program is applicable to all parcels within the Downtown Parking Zone. Is there a need orjustification to revise the area boundaries? ' Analvsis ; Most cities, comparable to Redwood City,with current in-lieu fee programs have set applicable ' area boundaries that cover the core downtown area.While it may be beneficial to the City and developers if the boundaries are extended beyond the core downtown,or if a second zone just on �, ': the perimeter of the core zone is created, it may also bring unexpected consequences that may dilute the purpose of the in-lieu fee program. For example,a development in the area immediately outside the Downtown Parking Zone may provide parking spaces and thereby lessen impacts of the ' parking demands within the core. Recommendation �� In absence of a need to expand the area eligible for in-lieu fee payments, no change to the current ]�•�[ ', practice is recommended. V ' 2. In-Lieu Fee per Parking Space ' Issue € Redwood City's current In-Lieu Fee of$10,000 per space does not reflect the true cost of providing a new parking space. What is an appropriate fee? PAnalvsis ' While there may be far more parking structures than other publicly accessed facilities such as parks, i libraries and schools,the true cost of building a parking structure is not easy to identify.Vastly different land values, site-specific challenges, design characteristics, associated development type '' and local regulations all factor into the cost, and often play a key role in the decision to build a � '; parking structure or pay an in-lieu fee. A developer is mostly concerned about the total cost of � ! building the required parking supply and lost developable area taken away by parking.The city planners and the community are rightfully concerned about the societal cost of adding a parking structure into the neighborhood and accepting the obvious negatives in terms of increased traffic, Redwood City In-Lieu Parking Fee Study Page � 9 11 RESO.#15448 MUFF#703