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11/18/2013 �C.4PCOA <br /> �: <br /> • • • <br /> MP#LU-1.7 PDT-2 Parking Policy/ Pricing <br /> NOx 2.6— 13% of running <br /> SOZ 2.6— 13% of running <br /> ROG 1.6—7.8% oftotal <br /> Discussion: <br /> As discussed in the preferred literature section, monthly parking costs typically range <br /> from $25 to $125. The lower end of the elasticity range provided by VTPI is used here to <br /> be conservative. <br /> Example: <br /> Sample calculations are provided below: <br /> • Low Range % VMT Reduction = $25* 12 / $4000 * 0.4 * 85% = 2.6% <br /> • High Range % VMT Reduction = $125* 12 / $4000 * 0.4 * 85%= 12.8°/a <br /> Preferred Literature: <br /> • -0.4 to -1.0 = elasticity of vehicle ownership with respect to total vehicle costs <br /> The above elasticity comes from a synthesis of literature. As noted in the VTPI report <br /> [1], a 10% increase in total vehicle costs (operating costs, maintenance, fuel, parking, <br /> etc.) reduces vehicle ownership between 4% and 10°/a. The report, estimating $4,000 in <br /> annual costs per vehicle, calculated vehicle ownership reductions from residential <br /> parking pricing. <br /> Vehicle Ownership Reductions from Residential Parking Pricing <br /> Annual (Monthly) Parking Fee -0.4 Elasticity -0.7 Elasticity -1.0 Elasticity <br /> $300 ($25) 4% 6% 8°/a <br /> $600 ($50) 8% 11% 15% <br /> $900 ($75) 11% 17% 23% <br /> $1,200 ($100) 15% 23% 30°/a <br /> $1,500 ($125) 19% 28% 38% <br /> Alternative Literature: <br /> None <br /> Alternative Literature Notes: <br /> None <br /> Other Literature Reviewed: <br /> None <br /> 212 PDT-2 <br /> s RESO.#15305 <br /> MUFF#603 <br />