75A - PH - DT PARKING PLAN - Laserfiche WebLink

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Downtown Enhancements and Parking Modernization Plan August 4, 2015 Page 3 Operating Revenues and Expenses FY 2012 -2013 to FY 2013 -2014 The City's parking operating revenues and expenses highlight a downward trend of capital reserves caused by rising maintenance cost and no adjustments in parking rates. The steady increase in expenses highlights the need to revise the parking rate model. The current revenue model is not sustainable and will not allow the City to perform many of the needed modernization and deferred maintenance projects. To date, the Parking Enterprise Fund has utilized Capital Reserves to cover the costs associated with the current level of parking operations. Parking Facilities and Meter Rates Survey A rate survey was conducted for both off - street and on- street parking rates within Downtown Santa Ana. The following table highlights the findings: n rt REVENUES C Parking Structures $1,550,961 $1,422,317 Parking Meters $1,029,372 $1,018,387 Parking Citations $ 497,519 $ 505,096 Subtotal $3,077,852 $2345,800 $20.00 $106.00 City of Santa Ana EXPENSES $7.00 $40.00 Parking Structures $1,250,716 $1,322,113 Parking Meters $ 863,520 $ 939,111 Subtotal $2,114,236 $2,261,224 Capital Reserves MUM 104,576 The steady increase in expenses highlights the need to revise the parking rate model. The current revenue model is not sustainable and will not allow the City to perform many of the needed modernization and deferred maintenance projects. To date, the Parking Enterprise Fund has utilized Capital Reserves to cover the costs associated with the current level of parking operations. Parking Facilities and Meter Rates Survey A rate survey was conducted for both off - street and on- street parking rates within Downtown Santa Ana. The following table highlights the findings: With hourly rates of $1.00 per hour, $7.00 daily maximum and $40.00 per month, the City of Santa Ana parking structure rates are by far the lowest of all off - street parking facilities. Based on a survey of other cities that offer on- street metered parking, we found the following: 75A -3 n rt C Market Average $1.98 $13.56 $60.00 Market Low $1.00 $7.00 $40.00 Market High $4.00 $20.00 $106.00 City of Santa Ana $1.00 $7.00 $40.00 With hourly rates of $1.00 per hour, $7.00 daily maximum and $40.00 per month, the City of Santa Ana parking structure rates are by far the lowest of all off - street parking facilities. Based on a survey of other cities that offer on- street metered parking, we found the following: 75A -3