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cost per space of approximately $28,000 (excluding design/engineering fees and other soft costs, such as permitting costs). Table 1 below identifies the cost for each of the parking garage site locations. Table 1: Parking Structure Estimated Cost Estimated Average Cost Average Cost Land Per Parking Per Net New Acquisition Cost' Space' Parking Space' Cost Range Workbench $1,080,000 to True Value Site $3,800,000 $29,000 $74,000 $1,800,000 Bank of $3,300,000 to $27,000 to $34,000 to $720,000 to America Site $10,400,000 $29,000 $41,000 $2,520,000 Inklings Coffee $1,680,000 to $5,500,000 $29,000 $49,000 and Tea Site $2,800,000 City Owned Peters Avenue $4,900,000 $28,000 $52,000 NA Lot 1 These costs do not include land acquisition, design services, or permitting costs. The Peters Avenue lot is already owned by the City. Additional information regarding existing spaces, potential number of garage spaces, and estimated land acquisition costs has been added to the Parking Garage Construction Cost Summary in the draft Parking Plan (the land acquisition cost is included in Table 1; these costs are in addition to the estimated cost, and are not incorporated into the average cost per parking space, and average cost per net new parking space). Also, costs for the Bank of America site have been amended based on a change in the number of anticipated parking spaces that could be developed within a parking structure at that location. Modifications to Strategies and Additional Information. Strategy 1.2.12 (Streetscape Improvements) has been modified to specify that pedestrian network improvements should be incorporated in all new parking areas. The strategy related to a residential permit parking program was deleted as this program is already available in the Downtown. Text has been added in the Introduction to acknowledge the difficulty visitors have finding parking and distinguishing between private and public parking lots. Information has been added regarding the "Master Plan for the Downtown Parks and Trail System", adopted in March 2002. Some text related to the rationale for charging for Downtown parking has been removed, although Strategy 1.3.2 (Parking Pricing) is included as an option that could be considered in the future to more effectively manage parking supply. Additional information regarding the cost of developing parking in the Transportation Corridor has been added to Table 6. Policy Conflicts with Parking Management Strategies. Additional information has been provided in Chapter 4, Parking Management Strategies, to explain why charging for parking can free up curb side spaces for those who will pay for a parking spot closer to their destination. The wording in Table 7: Potential Parking Management Conflicts to Resolve, regarding the conflict with the Downtown Specific Plan policy prohibiting parking charges, has been changed to say this policy could be "modified" rather than "eliminated." Page 4 of 7