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Parking Enterprise Fund Updates for Meters and Structures <br />March 18, 2025 <br />Page 2 <br />certain meter district areas, options to reduce operational costs, and grace period <br />options to be presented at the March 18, 2025 Council meeting. <br />The recommended actions reflect input received and budgetary needs, with flexibility to <br />incorporate additional Council considerations. <br />Establishing parking rates for City -owned structures at $2.00 per hour, with annual <br />increases of $0.50 per hour until a maximum rate of $3.00, would support operational <br />costs and necessary repairs for equipment. A resolution to formalize the structure <br />parking rates will be presented at a future Council meeting. <br />Adjusting parking meter rates to $2.50 per hour, with increases of $0.50 per hour until a <br />maximum rate of $3.50, removing meters in the Willard neighborhood, and transitioning <br />to contactless payment options —such as mobile apps and pay stations —will enhance <br />operational efficiency, reduce costs, and strengthen the Parking Enterprise Fund. To <br />support these improvements, an updated ordinance addressing meter operations, rates, <br />and the removal of meters in the Willard neighborhood will be presented at a future <br />Council meeting. It is anticipated that the estimated revenue for the first year increases <br />is $1.5 million. <br />Council Requested Information <br />1. Peak time usage at structures and meters: <br />a. Weekdays from 11 am-1 pm <br />b. Weekends from 5pm-7pm <br />2. Meter district areas with higher levels of coin payments: <br />a. Approximately 10 blocks have a higher percentage of coin payments between <br />51 %-89% compared to other areas that rely more on credit card payments or <br />mobile app payments <br />Blocks/Areas <br />Percentage of Coin usage <br />100 E. 3rd <br />52% <br />100 E. 4th <br />57% <br />400 E. 4th <br />52% <br />100 W. 4th <br />59% <br />200 W. 5th <br />89% <br />600 N. Bush <br />56% <br />100 N. Spurgeon <br />77% <br />500 N. Spurgeon <br />58% <br />500 N. Sycamore <br />51 % <br />3. Peak -season variable rates for structures and meters: <br />Staff reviewed potential options for peak -season variable rates and, if desired, could <br />propose the following: <br />