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1. Parking garage. The grandiose public parking garage, often dreamed about for the Bank of America site or elsewhere downtown is too big, too expensive, and too slow to crank up in the time frame needed. A parking garage could be pursued and helpful in the longer run. 2. Vest pocket parking lots. The City could with relative speed provide vest pocket public parking lots. There are numerous underutilized properties downtown. Many of these underutilized properties are close to Main Street where additional parking is most needed. The Long property on St. Mary's Street recently sold. There are residential properties in the immediate vicinity of the Pastime Plaza. The Downtown Specific Plan shows a 42 space parking lot immediately behind Main Street, on Spring Street at the former Valley Humane Society property. That property lingered long on the market and sold in 2012 for$800,000. At $17,728 per in lieu space, in lieu parking fees from 42 spaces could pay $744,576 (over 90%) of that land cost. The City must be poised to respond opportunistically when openings to purchase land for parking arise. 3. Proactive pursuit of shared parking arrangements (parking assessment districts). The PDA has worked with owners on several downtown blocks trying to get shared parking arrangements under terms specified in the Downtown Specific Plan and parking ordinance. The terms involve the contributing property owners getting the right to build 500 sq. ft. of additional space per parking space in the shared parking lot (rather than the standard 300 sq. ft.) One problem is getting the unanimous or near unanimous property owner support needed to make these arrangements work. But, another factor is that the terms of trade had not been viewed as quite favorable enough, especially for those property owners who do not need more building space now. Active effort by the City, with some subsidy, may be required for this approach to work. 5