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��• 3,� Many cities, such as San Francisco, Berkeley, Boston, West Hollywood, and Aspen have installed pay-by-space meters and have had success with them. Sta€f feels that they are ideal for the core area, identified in Fi�re g. In addition to the curb parking in the Downtown core, staff also recommends that all parking lots not affected by the Parking Facilities Agreement between the City and the On Broadway developer be equipped with these meters (Main Street Lot, Library Lot, City Hall Lot, City Hall Lot B, Winslow Lot, and Perry Street Lot). This equals approximately 60 meters, with a purchase and installation cost of between $150,000 and $250,000, depending on which models are used. Municipal Code Section 20.116 states "The City Manager is hereby directed to provide for the purchase, acquiring, installation, operation, maintenance, supervision, regulation, and use of the parking meters provided for in this Division and to maintain the meters in good workable condition." Recommendation #4: Create a Parking Benefit District Currently, all pazking meter and permit revenue is deposited into the Parking Fund. These monies may be used only for expenses related directly to the maintenance and operation of the Downtown parking system. Currently, the fund nearly breaks even. However, once parking charges are collected into the evenings and on the weekends and once market prices are charged, some excess revenue will be generated. The opening of the cinema and imposition of the new parking management system discussed in this paper represent a major shift in the Downtown parking paradigm. This makes it difficult to know exactly what parking revenues will be once the cinema opens up and once the new prices are implemented, it is possible to make good estimates. Assuming moderate increases in parking use and the initial price scheme laid out in Recommendation #l, anywhere from $1.4 million to $1.8 million dollars (net) should be generated. The low figure assumes that the number of cars parking in Downtown DOES NOT INCREASE with the opening of the cinema and drastic increases in expenses. This is unlikely. The high figure is based on moderate increases in parkers and operating expenses. In an attempt to be as conservative as possible, staff developed a "doomsday" scenario in which all parking was only $0.25 per hour, occupancy rates fell below current levels, and parking use was so low on evenings and Sundays that charging wasn't justified during those periods. This scenario resulted in an annual balance of $160,000 after expenses. Staff recommends that after all of the City's parking costs are paid, surplus revenue from the previous fiscal year could be used for improvements to the Downtown. Only the azea with parking meters should receive the improvements, and the use of these funds should be at the discretion of the City Council, under the advisement of a Parking Fund Advisory Committee (PFAC) made of up Downtown merchants. This committee should have five members, appointed by the City Council for two year terms. The PFAC should meet at least quarterly to make spending recommendations to the Council. The boundaries of the area to receive benefits from meters should match the boundaries of the metered area in Figure 1. pa�e 30