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i � � 10/12/2015 6.3.B. - Page 19 TJKM ' Transportacion Consu�tanu ( _ . __��_._______ _.._ � ! Table 5—Alternate Strategies and Range of Costs ' # Strategy Cost Total Cost Over Comment 10 years Restriping parking spaces for 1 Restriping parking $2,000-$2,500 $2,000-$2,500 narrower,compact or angled spaces perspace perspacea parking � 2 Valet parking $300 per space $36,000 per Allows higher utilization of existing per month spaceb parking supply ' 3 Shared/leased parking $Z00 per space $24,000 per For parking spaces during peak per month space demand periods. Shuttle service Assumes shuttle operations from 4 to/from transit $90 per hour $37,500 per 6:30-9:30am and 4:00-7:OOpm, stations per shuttle space` and reduced parking demand by 75 spaces. 5 Bike lanes and lockers $200,OOOd $8.000 per Assumes reduction in parking space demand by 25 spaces Transportation Annual budget of$250,000 6 Management $250,000 per n/a includes staffing, marketing, , Association year outreach/educational efforts,etc. ' $75 per $g 000 per Each employee receiving subsidy 7 Transit pass subsidy employee per reduces parking demand by one month space space Car-sharing reduces auto 8 Car-sharing n/ae n/ae ownership and thereby parking demand ' Notes:a:restriping is not necessary within 10 years. b:excluding any inflation/CPI adjustment for valet services � c:two shuttles running 6 hours a day,5 days a week,52 weeks a year d:five miles of new Class II bike lanes and 50 new lockers at key facilities e:car-share providers and users pay for all expenses Recommendation Based on the true cost of providing a new parking space in a well-designed parking structure, � average costs of recently built parking garages in urban areas of the San Francisco Bay Area Region • � ' and current in-lieu fees collected by other comparable cities, it is recommended that: ' a) The City of Redwood City revise the In-lieu Parking Fee to$25,000 per space. b) The City consider options for automatic annual adjustments on a specific date (e.g. every year on July 1)that are tied to an index(such as construction cost index)that reflects the ' increased cost of building a new parking space.Alternatively,the City could decide a fixed � ' percent increase every year(e.g. 2 or 3 percentj.This will eliminate any staff time needed to establish a percent increase tied to an index on an annual basis. ! 3. Payment Options = Issue Should the City offer more than one payment option? $� Analvsis Per currently adopted policies, upon approval by the Zoning Administrator, a developer pays the full amount in one payment, either prior to the issuance of a building permit or within 45 days of a Redwood City/n-Lieu Parking Fee Study Page � 12 14 RESO.#15448 MUFF#703