AgdaPkt 2006-02-27 - Laserfiche WebLink

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SA Page 4 underground parking, the city recently paid about $30,000 per space for the public parking located under the Retail/Cinema project. 2. Facilitating New Development Downtown. In the early years it may be important to establish an in-lieu fee that is below the full per space cost of a parking structure in order to encourage and facilitate new development in Downtown, especially on our numerous small lots. Although a large scale development may be able to fit its required parking on-site, development on smaller sites may not. As a policy choice, the staff is recommending setting the initial in-lieu fee at only $10,000 in order to encourage new development, especially on smaller sites. Although this is below the estimated cost of providing new spaces in a parking structure, staff believes that this is a reasonable approach for the first few years of the new program. Staff will be implementing a program of acquiring new low cost parking places through more efficient configuration of on-street spaces and by seeking agreements with the owners of existing private parking facilities for public use of those facilities during night and weekend peak parking periods. Thus, the city council has several policy choices in setting the amount of the in-lieu parking fee: 1. Full Cost Recovery Now. Approximately $20,000 to 30,000/space 2. Balanced Approach. $10,0001 space 3. Very Low Fee to Encourage Development. $1,OOO/space City staff (and the Planning Commission and the Parking Advisory Committee) recommend the Balanced Approach of $10,000 as the initial amount of the in-lieu fee. Staff will report annually on its progress in acquiring the new low cost spaces referred to above and will make a recommendation, when needed, for adjustments in the amount of the in-lieu fee in order to maintain the financial stability of the program. The actual fee, however, is not included in the ordinance language currently before the Council. The fee amount will be set by a resolution which will be brought before the Council at a later date (probably April 3rd) in order to ensure that the effective date of this ordinance (which creates the program) and the implementation of the resolution (which sets the fee) coincide as closely as possible. Technical Report An extensive technical report is included in the agenda packet in order to explain the new parking requirements and the in-lieu program in greater detail. About the Format of the Ordinance Section 30.1 is unchanged. Section 30.2 represents the new Downtown parking requirements and Section 30.3 represents the proposed new In-Lieu Parking Fee program. The content of Section 30.4 now includes the current city-wide parking requirements, which have been given a new section number to accommodate the proposed changes and which have been retitled to apply them to all areas except Downtown. 2006 STAFF REPORTS< AGREEMENTS_02-2006_Downtown Parking Requirements Update 4 ._.... _..... --"---._~_...'...... '-"'~"".'."_.- ~...- . ' ..~-,. ._..-