AGENDA #4a

 

BUDGET WORKING PAPER

 

 

TO:                  W. Calvin Horton, Town Manager

 

FROM:            Mary Lou Kuschatka, Transportation Director

 

SUBJECT:            Evaluation of Changes in Parking Meter Time Limits

 

DATE:            April 25, 2001

 

 

This memo discusses the parking meter time limits for parking meters located on West Rosemary Street and explores the options of increasing the time limit to four hours or all day parking.

 

BACKGROUND

 

During the budget work session of February 23, 2001, the Council asked the staff to look into changes in the parking meter time limits for parking meters on West Rosemary Street from two-hours to four, six or eight hours.  Since the meters appear to be under utilized, the staff was directed to conduct an overall review of the meter utilization in that area and to determine the feasibility of making such a change.

 

DISCUSSION

 

There are 9 parking meters, with a two-hour limit, on West Rosemary Street.  This is the maximum time allowed, in accordance with the Code of Ordinances, for any on-street meter in the Town of Chapel Hill.  The average revenue per month, for the meters on West Rosemary Street, based upon review of the last seven months, is $314.00.  The average number of days per month the meters are enforced is 25 days per month.  Therefore, the average daily revenue per metered parking space on West Rosemary Street is $1.40 per day.

 

If we were to increase the meter time limits, assuming that the rate would remain the same, and the parking spaces were used all day, the maximum revenue possible would be $10.00 per space per day.  The maximum time limit available on the existing mechanical meters on West Rosemary Street is 2 hours.  In order to convert the parking time limit to 4 hour or all day parking, the meters would have to be replaced with electronic meters.  The electronic meters cost $175.00 each for a cost of $1,575.00 to replace the 9 meters on West Rosemary Street.

 

Advantages

 

• Increased parking meter time limits would allow customers additional parking options to accommodate their long term parking needs.  This change would also accommodate employee parking for the adjacent business.
• We believe that that the revenues will increase as increasing the time limits would allow additional long-term parkers to utilize these spaces.

 

Disadvantages

 

• An increase to the meter time limit in the West Rosemary Street area would mean a lower turnover rate, therefore allowing less opportunity for visitors and patrons of the adjacent businesses to utilize the available on-street parking.

 

CONCLUSION

 

The review of the parking meters on West Rosemary Street indicates a fairly low usage of the meters.  I would recommend converting these meters to accommodate 4 hour and all day parking.  I believe that we will increase the revenue for the on-street meters on West Rosemary Street with the addition of the 4 hour or all day option.  We are planning to purchase electronic meters in the near future and could replace the meters on West Rosemary Street at that time.  The conversion of 2 hour parking to 4 hour or all day parking would also require that an ordinance change be brought forward.