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congestion. That brings increased vitality - customers, residents, sales, employees, <br /> suppliers, and the critical mass that makes a downtown vital. <br /> Public parking is the boring but necessary infrastructure for a successful downtown. <br /> Some City capital improvement funding (i.e. subsidy) to improve public parking lots <br /> would be a good investment in vitalizing the downtown core. Consider the property tax <br /> impact: In the Spring Street example, the 12,600 additional sq. ft. of building space, at <br /> $300 per sq. ft. for construction (or upon first sale) would add $3,780,000 to the City's <br /> assessed value. There would also be increases in sales tax revenue. <br /> Conclusion <br /> The City needs to proactively create public parking spaces now as parking saturation is <br /> being reached. There are cost effective solutions available which could increase public <br /> parking at locations where parking is needed now. <br /> For submittal to Downtown Vitality Committee, March 25, 2015 <br /> PDA Parking Committee: <br /> Peter MacDonald —primary author <br /> Judy Wheeler <br /> Vera Revelli, Chair <br /> Attachment: <br /> Hexagon Parking Survey Results for Downtown Pleasanton, September 23, 2013 <br /> References: <br /> (1) Karlin-Resnick, Joshua, and Rachel Weinberger. Parking in Mixed-Use Districts: <br /> Oversupplied No Matter How You Slice the Pie. Transportation Research Record, <br /> August 1, 2014. <br /> (2) Millard-Ball, Adam, Rachel Weinberger, and Robert Hampshire. Is the curb 80% <br /> full or 20% empty: Assessing the impacts of San Francisco's parking pricing <br /> experiment? Transportation Research Pate A: Policy and Practice, No. 63, 2014, pp. <br /> 76-92. <br /> 7 <br />