AgdaPkt 2016-05-09 Interview, Closed and Joint SA PFA

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6.3.C. - Page 2 ANALYSIS When the agreement was initially executed in 2003, it made approximately 797 parking spaces available to the City to operate on weekends beginning every Friday at 4:00 p.m. and ending each Monday at 2:00 a.m. Additionally, the County made the parking spaces available an additional 50 weeknights per year from 6:30 p.m. to 2:00 a.m. of the following day. The City and County then updated the agreement in 2007 expanding the City hours of operation increasing City hours of operation to every weeknight instead of just 50 weeknights under the terms of the original agreement. The County's parking structure and lot helps City meet the needs of residents, workers, and visitors to the downtown area by making use of the County's existing public infrastructure. ALTERNATIVES The Council could elect to not approve the amendment to the Agreement, which will significantly reduce the City's stock of nighttime and weekend parking spaces in the downtown area by removing 797 parking spaces from the City's parking supply. Alternatively, the City could consider constructing a parking structure which is currently estimated to cost in excess of $25,000 per space, which would cost in total at least $19,925,000 to replace all 797 parking spaces. FISCAL IMPACT The total cost of the recommended 15 year agreement with the County amounts to $1,297,500. This amount is favorable in comparison to the approximate $19,925,000 it would cost at a minimum to build a similar amount of parking spaces. However, it is important to note that the latter could be available to the public at all times, while this agreement only allows for weeknight and weekend parking. For the first year of the agreement, the initial $86,500 cost of the fee could be funded by the Parking District Fund. In subsequent years, funding the use of the parking structure and parking lot may require contributions from both the Parking District Fund and the General Fund. The General Fund contribution would depend on the amount of revenue brought in to the Parking District Fund and the Parking District Fund's existing operating and capital expenditure commitments. ENVIRONMENTAL REVIEW Approving by motion the agreement and appropriating funds to pay the fee for the public use of the County of San Mateo's parking garage and parking lot is not a "project" subject to the California Environmental Quality Act because the motion does not involve commitment to any specific project which may result in a potentially significant physical impact on the environment (California Code of Regulations Title 14, Chapter 3, Section 15378(b)(4)).