SR 05:222 - Laserfiche WebLink

Regarding the area of land needed for each parking space, there are no "rules of thumb", and the resultant number of parking spaces which can be provided for a given amount of raw land depends on the configuration of the site, the amount of compact and handicap parking spaces provided, and the amount of landscaping provided. These factors influence the "efficiency" of a particular parking lot. Construction and design costs, while somewhat more predictable, are still related to the efficiency of a particular parking lot, as well as the uncertainties of the bidding process. Land costs can be more easily estimated based on appraisals, although these, too, can vary. Certainly, all of these costs vary over time, so the parking in-lieu fee determined would be for the short-term and would be re-calculated annually. The PDA Parking Committee and staff have each independently developed a proposed in-lieu fee amount in order to help ensure that the fee is fair and realistic. Using somewhat different methods, shown below, the calculated fee amount was similar, and each propose that the current in-lieu fee for a surface parking space in the Downtown should be $14,000. COMPARISON OF CITY VS. PDA METHODOLOGY Area of Parking Space 325 sq. ft./space 420 sq. ft./space Improvement Cost $2,650/space $3,825/space Land Cost $35/sq.ft. $35/sq.ft. Public Parking Reduction (.75/$4,634) Total Est. Cost/Parking Space$14,025 $13,901 As can be seen from the above table, both computations involve the same land cost, but City staff's estimate includes a smaller land area per parking space and lower construction cost than the PDA's. As explained above, there is a great deal of variability for these costs, and staff assumed an efficient parking lot design, which resulted in lower construction costs and parking lot area needed for each parking space. The PDA's assumptions, while higher for those components, includes a 75% discount for public parking. The PDA's position is that a public parking space supports more than 300 sq. ft. of building space, the City's standard parking requirement. The PDA asserts that a public parking space can support at least 400 sq. ft. of building space due to better sharing of peaks, higher turnover, and overflow availability compared to a parking space located in a privately-owned lot. Staffnotes that the 1 space/400 sq. ft. parking ratio is the same as the parking ordinance requires for joint use parking and is less than the 1 space/500 sq. ft. parking ratio allowed for public parking lots created through parking assessment district. Thus, in reaching similar proposed in-lieu fee amounts, staff used a methodology which "discounted" the improvement costs and the area required for each parking space, whereas the PDA's formula considered the utility ora public parking space versus a private parking space and included a discount based on that approach. Staff believes that both methods were intended to reach the same goal: to create a fee which would defray most, if not all, of the cost of SR:05:222 3