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Parking Rates

Parking Rates. December 8, 2008. System Spaces – FY2000. 8,297 Total Spaces. Surface Lot (39%) 3,208. Garage (49%) 4,106. On-Street (12%) 983. System Spaces – FY2008. 7,789 Total Spaces. Surface Lot (2%) 127. On-Street (13%) 1,031. Garage (85%) 6,631. System Spaces.

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Parking Rates

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  1. Parking Rates December 8, 2008

  2. System Spaces – FY2000 8,297 Total Spaces Surface Lot (39%) 3,208 Garage (49%) 4,106 On-Street (12%) 983

  3. System Spaces – FY2008 7,789 Total Spaces Surface Lot (2%) 127 On-Street (13%) 1,031 Garage (85%) 6,631

  4. System Spaces

  5. 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

  6. 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.

  7. Parking Revenue Impacts • 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.

  8. 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.

  9. 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

  10. Parking Enterprise Solutions • Two Options: • Adjust Rates • Discontinue operating as an enterprise and make parking a function of the General Fund

  11. 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

  12. 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

  13. 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

  14. 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

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