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RFP Smart Meters <br />March 18, 2014 <br />Page 2 <br />When paired with ground sensors, which detect the absence and presence of a vehicle, Smart <br />Meters can be reset when a vehicle leaves the space. The data management system can easily <br />generate reports on each individual pole showing parking revenue peak times and form of <br />payment. Alerts are able to be sent by text or email on the status of meters and sensors <br />including battery status, full coin box and any fault such as coin or credit card jam. In addition, <br />rate changes and hourly settings can be made by remote location, to improve parking meter <br />program efficiency. The meters can be retrofitted into existing meter poles by replacing the meter <br />mechanism and top cover of the meter only. This provides an economical method of upgrading <br />without completely changing the existing meter infrastructure. <br />Based on the trial period analysis, the expense associated with the purchase of 500 meters and <br />500 sensors is estimated at $400,000. Funds to purchase the smart meters will be borrowed <br />from the General Fund and through increased parking revenues of 20% to 40 %, the City <br />anticipates recovering the initial investment within 18 months. Should the actual results be <br />consistent with the trial, approximately $20,000 of additional income will be generated each <br />month from these smart meters. Revenue may vary depending upon placement of the smart <br />meters and vehicle parking at these locations. <br />As part of the Request for Proposals process, staff will review, rate and rank the submissions and <br />a formal recommendation will be submitted to the City Council for consideration. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Scott Kutner <br />District Manager <br />Community Development Agency <br />SK/TE /kg <br />Exhibit: 1. Request for Proposals <br />19D-2 <br />