ACTION REQUESTED:
Title
Communication from the City Manager and Public Works Director with a Request to APPROVE a RESOLUTION to Raise PARKING RATES at CITY-OWNED FACILITIES.
Body
BACKGROUND: On October 18, 2022, the City Manager presented to Council a balanced 2023 Revised Budget. Starting January 1, 2023, staff is recommending a parking rate increase. There are several factors that have contributed to the recommendation of this increase, including an increase in costs of maintaining the deck and other operational costs (i.e. increase in electrical costs, 10% wage increase in minimum wage, which affects the Heartland parking, who manages the deck).
The recommended fee increases are as follows compared to the last increase in 2020:
Current
Proposed
$ Increase
% Increase
Special Event
$5
$10
$5
100%
All day
$6
$10
$4
66.6%
Hourly
$2
$2
$0
0%
7 day
$85
$90
$5
5.9%
5 day
$80
$85
$5
6.3%
Riverfront Lots
$65
$70
$5
7.6%
Riverfront Employees
$22
$27
$5
22.7%
I-74 Lots
$42
$47
$5
11.9%
Staff can use the additional funds to pay for the maintenance of the decks and lots. We currently have been budgeting $150,000 in expenses every other year for capital repairs, which has not been enough to keep up with the deterioration of the decks. In 2024, Staff will be replacing the parking controls for the three parking decks for the one-way/two-way conversion projection for estimated cost of $500,000.
FINANCIAL IMPACT: The changes to the parking fees would provide approximately $120,000 additionally each year to offset increasing costs to maintain the parking lots and decks.
NEIGHBORHOOD CONCERNS: None expressed.
IMPACT IF APPROVED: Parking rates will be increased accordingly and revenue estimated at $120,000.00 would be included in the budget.
IMPACT IF DENIED: Parking rates would remain the same and the City will continue to look for ways to fund the ongoing maintenance of the decks and parking lots.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
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