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Downtown Parking Strategy and Implementation Plan—Public Comments ATTACHMENT 3 Pleasanton Planning Commission Re Downtown Parking Strategy March 8, 2017 Page 3 space would be$31,256. If the 211 net new parking spaces were sold at the current • parking in lieu parking fee of$19,117 per space,then$4,033,687 is generated, dropping the net construction cost from$6,594,980 to$2,561,293—to$12,139 per net new parking space. Of course there would be a land cost, but this is financially feasible even with land cost, perhaps 2%of the cost of the new Civic Center being proposed. More importantly, 211 in lieu parking spaces would support 300 sq.ft. of building space each, representing a potential for 63,300 sq.ft. of fully parked new building space—a boatload of new vitality for downtown. Context with Other Plans The Parking Strategy,the Civic Center Plan,and the Downtown Specific Plan all need to work together. The critical parking strategy,which needs to inform the Downtown Specific Plan,would be for the City to commit to provide a substantial increase in public parking spaces at locations within 2 blocks of most of downtown Pleasanton. • Recommendation • I ask that you approve the Staff Recommendation and improve it with the addition of a new#1 Strategy as follows: 1. The City of Pleasanton commits to provide a substantial increase in public parking spaces within two blocks of most of Downtown Pleasanton. 'ncerely, � ( ] �� Peter MacDonald Enclosures: Report of the PDA Parking Committee Chart of Downtown Sales Tax Receipts(e.g. measure of vitality) Cc: Gerry Beaudin • Shweta Bonn Laura Olson Scott Raty Vera Revelli Judy Wheeler Provided to Planning Commission for March 8,2017 Meeting and City Council for April 18,2017 Meeting