HomeMy WebLinkAboutPresentation - Item 19Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 1
Work Study Session
Parking Enterprise Fund
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 2
Objectives
1.Review revenue &expenditures
2.Seek Council direction to balance fund
3.Streamline hours of operation for meters
4.Direction for parking rates
5.Direction free parking options
6.Discuss meter ordinance updates
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 3
Current Operating Budget
CATEGORY REVENUE EXPENDITURES
Parking Meters $1,777,720 $1,531,120
Parking Structures $1,398,580 $2,108,040
Downtown Enhancements*$-$1,098,420
Sub-Totals $3,176,300 $4,737,580
Net $ -1,561,280
*Downtown Enhancements include: Clean and Safe Program ($700k),
Holiday Decorations in Downtown ($60k), Utilities, Repairs, Personnel
costs ($300k)
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 4
Deficit Factors
•Current deficit ~$1,561,280 due to:
•FREE parking at structures since 2021
o Free 7am-5pm Monday-Friday
o First 2-hours free every evening and weekends
•COVID-19 pandemic measures
•OCTA Streetcar Construction
•Major equipment repairs & infrastructure
repairs (Elevators, Entrance/Exit equipment, etc)
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 5
Meter Rates Study
$0.00
$1.25
$1.50 $1.50
$2.00 $2.00 $2.00 $2.00 $2.00
$3.00
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 6
Parking Structure Rate Study
City Structures in Downtown offers:
low or free parking inside structures
Low monthly rates
2019 was last rate increase to $1.50
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 7
Recommendation
Structures
continued
•$85 ($50 now)
unreserved space
•$95 ($60 now)
reserved space
•$120 overnight
Note: Based on Market Rate
Study by ABM
Structures
•$3.00 per hour
–($1.50 now)
•Free 1st
Saturday Artwalk
•Free 1st hour
daily
Meters
•$2.00 per hour
–Across all
meters*
•8am-10pm
•Any changes
require update to
ordinance
*Includes Willard and Midtown Districts (722 meters out of 1,262 total)
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 8
Budget Option 1
RATE INCREASE FOR STRUCTURES AND
SOME FREE PARKING (1st Saturday and 1st hr Free)
Category Revenue Expenses
Parking Meters ($2 per hour)$
1,777,720
$ 1,531,120
Parking Structures ($3 per hour)$
5,910,138
$ 2,108,040
Downtown Enhancements*$ -$ 1,098,420
Total $
7,687,858
$ 4,737,580
Net $ 2,950,278
*Downtown Enhancements include: Clean and Safe Program ($700k),
Holiday Decorations in Downtown ($60k), Utilities, Repairs, Personnel
costs ($300k)
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 9
Budget Option 2
$4 RATES IN STRUCTURES
(NOTHING FREE & Comparable to County)
Category Revenue Expenses
Parking Meters ($2 per hour)$
1,777,720
$ 1,531,120
Parking Structures ($4 per hour)$
7,969,469
$ 2,108,040
Downtown Enhancement $
-
$ 1,098,420
Total $ 9,747,189 $ 4,737,580
Net $ 5,009,609
*Downtown Enhancements include: Clean and Safe Program ($700k),
Holiday Decorations in Downtown ($60k), Utilities, Repairs, Personnel
costs ($300k)
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 10
Options for Increase in Fund Revenue
•Operational Costs
–Landscape & hardscape beautification
–Modernization of Equipment
•Service Enhancements within Downtown
–Lighting repairs/improvements to augment safety
–Signage improvements
–Facility improvements (dog trash containers/posts)
•Maintenance Projects within Downtown
–Parking structure repairs
–ADA improvements & Elevator replacement
Work Study Session: Parking Enterprise Fund 27
Community Development Agency
February 18, 2025
Slide 11
Thank you