Parking Rates

December 8, 2008

System Spaces – FY2000

On-Street (12%)983

Garage (49%)4,106

Surface Lot (39%)3,208

8,297 Total Spaces

System Spaces – FY2008

On-Street (13%)1,031

Garage (85%)6,631

Surface Lot (2%)127

7,789 Total Spaces

System Spaces

2008 2000 Change

Garage6,631

4,106 2,525

On-Street

1,031 983 48

Surface Lots 127 3,208 (3,081)

Total 7,789 8,297 (508)

Rate History

• Initial rates were set in 1982

• A 1989 Parking Rate Study found rates and fines were inadequate

• A three step rate increase program was approved in November 1989. The first step was implemented in 1990, but the 2nd and 3rd steps were not been initiated

• Small increases and reductions for monthly parking rates were made in 1997 and 2001, however metered and hourly rates have not been adjusted since 1990

Parking Revenue Impacts

FAMU Law School

The loss of parking lots 12 & 12A in October 2003 resulted in a loss of 308 parking spaces.

Interstate 4 / FDOT Transit Funding Agreement

From 2006 through late 2008, revenue from parking lots 9 & 10 (under I-4) was substantially reduced due to overhead construction.

Upon completion of construction in late 2008, parking revenue from these lots will be permanently transferred from the parking fund.

Old Lynx Station Central Station / Fire Station 1

The loss of parking lot 4 in early 2008 resulted in a loss of 70 metered parking spaces.

Market Garage / 55 West Development

The 380 space Market Garage was lost in 2005 to permit construction of 55 West Church Street. Recovery of the spaces is not expected until late 2008 / early 2009.

Parking Revenue Impacts

Parking Revenue Impacts

Loss of Municipal Lot #2

Construction of Dynatech project in January 2006 permanently closed 172 spaces

On-Street Meters

Of the 150 metered spaces removed from system due to construction, only 100 have recently been replaced, resulting in a continued loss to the revenue stream.

Parking Enterprise Problem

Rates have not been adjusted as the costs to operate the system have increased

Rate structure has not changed to reflect the change in mix of parking inventory

Projected loss for fiscal year 2008 is $4 million

Parking Enterprise Solutions

Two Options:

1. Adjust Rates

2. Discontinue operating as an enterprise and make parking a function of the General Fund

Process

After the 2006 City Council presentation, Finance staff, in conjunction with Parking staff, conducted a comprehensive review of the parking fund as well as parking rates in Orlando, Florida, and across the country

A similar study was conducted by a consultant (Walter P. Moore) which validated many of the findings of the staff study

Staff Recommendation Adjust City rates to the bottom of the Orlando market

Meter rates from $.75 to $1.00

Garage hourly rates from $1 to $2

Evening garage flat rate from $4 to $6

New late evening rate (after 10pm) of $10

Event rate from $5 to $10

Monthly rates increase $15 to $40 depending on location

Reduced Parking Cost Options Rates at the Church Street Garage will be reduced to $1 hour and $6 for

evenings / nights

First 30 minutes $1 at City garages

Garage patrons arriving before 7am will pay $8

Discount validation program

“Reduced Parking Nights” for $5 (Sundays, Mondays, Tuesdays)

Student rates in Washington and Jefferson Street Garages

Service employee rates in Washington and Jefferson Street Garages

Other Important Considerations

Improvements to the system to make parking easier to use, more efficient, and more convenient

Payment options other than cash

City will be able to keep up maintenance of our facilities

Safety enhancements