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NORTH CAROLINA

EXECUTIVE SUMMARY

Meeting Date: 9/14/2009
AGENDA #7a

Title of Agenda Item: Follow-up on Parking Study Recommendations

Background: The attached memo is a follow-up to the Parking Study recommendations made by the Parking Committee appointed by the Board of the Downtown Partnership including:

Additional information on alternative or unified pay systems
Analysis of the impact of ceasing operations at various lots after 6:00 pm
Analysis of the impact of increasing parking meter rates from $1.00 to $1.25 per hour

Fiscal Note:
  • The cost of adopting alternative payment systems varies by system and the extent to which they are to be used.  Generally credit card capable parking meters and multi-space payment units have a high implementation cost but a relatively low pay-back period. Pay by phone options have lower cost, but the payback is based on the number of cuustomers who opt to use the service.
  • The estimated costs of ceasing operations at parking lost after 7:00 pm would be as follows
    • Lot 2 - Estimated annual revenue loss $163,200
    • Lot 3 & 5 - Estimated annual revenue loss $48,360
  • Raising parking meter rates fom $1.00 to $1.25 would result in an estimated $65,000 increase in revenue.

Recommendations: That the Council consider the following actions: Authorize the Town Manager to solicit proposals for a pay by phone and on street pay-station solution.


ATTACHMENTS:
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Staff Memorandum