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The City will apparently vote on the parking plan this coming Tuesday.
Of the five plans they're considering, apparently only one projects to make a profit so I'm sure that's the one that will be approved.
Option A:
M-T 8am-6pm
Friday-Saturday 8am-9pm
Sundays are free
15 minute free parking.
$0.75 an hour
$5 daily rates for surface, $10 for covered
$35 monthly for surface, $70 for covered
Expected profit of $500K
Option B:
Same as A except one hour of free parking. (Apparently 35% of visitors are parked for less than an hour)
Expected loss of $725K
Option C:
No meters in Old Town.
Other rates match Option B.
Would also include either a rate hike for existing Old Town businesses on their parking agreements or a CID of 1% which would eliminate parking agreements for retail and increase rates for non-retail.
Expected loss of $1.1M
Option D:
Higher rates for garages and surface lots. On street parking wouldn't be metered until 2026.
Delano would be left out until the HUB is completed, then it would be reevaluated.
Option C Old Town included.
No dollar amount projected, but a loss is expected.
Option E:
Continue with the status quo with the parking fund continuing to operate at a loss.
They project they have between $12M and $18M in deferred maintenance due to lack of funding.
Of the five plans they're considering, apparently only one projects to make a profit so I'm sure that's the one that will be approved.
Option A:
M-T 8am-6pm
Friday-Saturday 8am-9pm
Sundays are free
15 minute free parking.
$0.75 an hour
$5 daily rates for surface, $10 for covered
$35 monthly for surface, $70 for covered
Expected profit of $500K
Option B:
Same as A except one hour of free parking. (Apparently 35% of visitors are parked for less than an hour)
Expected loss of $725K
Option C:
No meters in Old Town.
Other rates match Option B.
Would also include either a rate hike for existing Old Town businesses on their parking agreements or a CID of 1% which would eliminate parking agreements for retail and increase rates for non-retail.
Expected loss of $1.1M
Option D:
Higher rates for garages and surface lots. On street parking wouldn't be metered until 2026.
Delano would be left out until the HUB is completed, then it would be reevaluated.
Option C Old Town included.
No dollar amount projected, but a loss is expected.
Option E:
Continue with the status quo with the parking fund continuing to operate at a loss.
They project they have between $12M and $18M in deferred maintenance due to lack of funding.
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