AGENDA #4g

 

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Budget Amendment for Installation of Parking Meters on Cameron Avenue

 

DATE:             November 22, 2004

 

 

The attached budget amendment would provide a budget for installation of additional parking meters on Cameron Avenue.

 

BACKGROUND

 

On November 8, the Council resolved to establish striped bike lanes on Cameron Avenue between Pittsboro Street and Merritt Mill Road.  The Manager was directed to implement changes that would establish 5-foot wide striped bike lanes on both sides, two 12-foot wide travel lanes, and a 10-foot wide metered parking lane on the north side.  Existing on-street parking would be eliminated on the south side.  Fifty meters would be added on the north side. 

 

We would be able to reuse about 20 meter housings and 25 meter mechanisms.  Unfortunately, we cannot reuse the mechanisms from Lot 5, because they do not have a sealed system for collecting revenues; that is, our personnel would have to handle the money in a non-secure environment.  The costs for the new meters total $10,100 including the cost of meter housings ($3,000), mechanisms ($4,400), labor and materials ($2,700).

 

DISCUSSION

 

The attached budget amendment would increase the expenditure budget for on-street parking by $10,100 and would increase parking meter revenues by the same amount.  We anticipate higher revenues from the addition of the meters and will use the collections rate over the next few months to assist in preparing the parking budget for next year.

 

RECOMMENDATION

 

That the Council enact the attached ordinance that would increase both revenues and expenditures by $10,100 in the On-Street Parking Fund.

 

ATTACHMENT

 

1.      Memorandum of November 8, 2004 without attachments (p. 3).

AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2004” (2004-11-22/O-2)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that the Budget Ordinance entitled “An Ordinance Concerning Appropriations and the Raising of Revenue for the Fiscal Year Beginning July 1, 2004” as duly adopted on June 14, 2004 and the same is hereby amended as follows:

 

This the 22nd day of November, 2004.