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Downtown Enhancements and <br />Parking Modernization Plan <br />August 4, 2015 <br />Page 6 <br />and staff agreed that the recommended rate adjustment will not take place until after the structure <br />upgrades and enhancements have been completed. This is estimated to occur after July 1, 2016. <br />Staff also recommends reducing the expired parking meter citation from $56.00 to $40.00. The <br />reduction in expired meter citation revenue will be partially offset by extending the parking <br />enforcement hours in the Downtown Zone from 8am to 10pm. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 Economic Development, Objective <br />#4 (Continue to pursue objectives that shape downtown Santa Ana into a thriving, culturally diverse, <br />shopping, dining, and entertainment destination.), Strategy #B (Create a comprehensive program to <br />manage parking that includes innovative strategies to provide parking, create revenue and enhance <br />accessibility in the downtown.) <br />FISCAL IMPACT <br />All revenues received will fund the Downtown Enhancements and Parking Modernization Plan. <br />It is estimated that for fiscal year 2015 -16, the proposed parking meter rate increase will generate an <br />additional $822,000 in Parking Enterprise Fund revenue (no. 02710002- 53804). <br />In Fiscal year 2016 -17, the proposed parking structure rate adjustment will generate an additional <br />$547,600 pending the completion of the improvements (no. 02710002 - 53800). <br />In fiscal year 2015 -16, the proposed expired parking meter citation decrease will result in a reduction <br />of $132,857 and will be off -set by $55,357 increase in revenue by extending Downtown zone parking <br />enforcement hours from 8am to 10pm. The net reduction to the Parking Enterprise Fund is estimated <br />at $77,500 (no. 02710002 - 55000). <br />Details on the Downtown Enhancements and Parking Modernization Plan are provided as part of the <br />Parking Pro Forma and Construction Costs Detail Sheet (Exhibit #1). <br />APPROVED AS TO FUNDS AND ACCOUNTS <br />Fr6n sco Guti�e ez <br />Executive Director <br />Finance and Management Services Agency <br />Exhibit: 1. Parking Pro Forma and Construction Costs Details Sheet <br />2. Downtown Santa Ana Parking Facilities Map <br />3. City of Santa Ana Meter District Map <br />4. Ordinance <br />5. Resolution <br />75A -6 <br />