HomeMy WebLinkAboutPresentation - Item 16Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 1
Parking Enterprise Fund
Budget Review
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 2
Overview
1.Willard Neighborhood
2.Meter Information
3.Meter Hours &Ordinance
4.Current Budget
5.Budget Suggestions
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 3
Willard Neighborhood
Meters ensure parking for residents is not used
exclusively by those going to OC Court or to avoid the
five (5)private pay lots in Willard.
Single Family residents in Willard with permits are
exempt from meters
Recommend removing meters north of 10th Street.
Ordinance change requires update to SAMC Section
36-398
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 4
Meter Information
Meter Peak Times:
•Weekdays 11am-1pm
•Weekends 5pm-7pm
Coin Payments
•10 blocks use coins at 51%-89%rate
•Rise in Credit Card and App payments
Pay stations
•~$8,700 per unit &installation
•Daily servicing required of pay stations
•Monthly service charges
•Staff required for coin collection
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 5
High Coin Use Area (Meters)
Blocks/Areas Percentage of
Coin usage
100 E. 3rd 52%
100 E. 4th 57%
400 E. 4th 52%
100 W. 4th 59%
200 W. 5th 89%
600 N. Bush 56%
100 N. Spurgeon 77%
500 N. Spurgeon 58%
500 N. Sycamore 51%
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 6
Meter Hours & Ordinance
Hours of Operation
•8am-10pm -Everyday
Options
•8am-8pm Everyday (Recommendation)
•8am-6pm Everyday
Meter Ordinance Updates
•Hours of operation &rates
•Additional meter areas (other parking lots)
•Update meter reservation fees and meter special
events reservations
•1st reading &2nd reading
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 7
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+)
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 8
Budget Year 1
METERS $2.50 & STRUCTURES $2.00
NOTHING FREE
Category Revenue Expenses
Parking Meters ($2.50 per hour) $ 1,879,119 $ 1,531,120
Parking Structures ($2 per hour)$ 5,063,081 $ 2,108,040
Downtown Enhancement $ -$ 1,098,420
Total $ 6,942,200 $ 4,737,580
Net $ 2,204,620
Meters and Structures will increase by $0.50 per year until maximum of $3.00
(structure) and $3.50 (meters) is reached. City Manager will then have
authority to modify rates as needed.
Parking Enterprise Fund 27
Item #16
Community Development Agency
March 18, 2025
Slide 9
Thank you