05/15/2001 RA RPT 06 - Laserfiche WebLink

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CITY OF RIVERSIDE REDEVELOPMENT AGENCY MEMORANDUM Honorable Mayor & Agency Members Date: May ]5, 2001 Item No.: 6 Subject: Request to Amend Downtown Parking Rate and Hour Schedule for Downtown Parking Facilities Background At their meeting on April 12, 2001, the Downtown Parking Committee (DPC) considered staff's request to establish four-hour metered parking in Lot 19, which is located behind the District Attomey's office off Market Street. Lot 19 currently offers two-hour metered parking and reserved parking spaces. Current Issue Agency staff proposes to amend the Downtown Parking Rate and Hour Schedule ("Schedule") for Agency- administered downtown parking facilities. The Schedule is subject to change from time to time in order to address parking issues as they arise. The current request is to create long-term parking in Lot 19 by increasing the amount of time allowed to park. Staff suggests that a sixty-day trial period be granted in order to monitor the use of Lot 19. Ampco System Parking will promote long-term parking during the trial period. If an increase in the occupancy rate is noted, Lot 19 would remain a four-hour parking lot. If not, then Lot 19 would revert to two- hours. Analysis A survey conducted by Ampco System Parking reflected the average occupancy rate and revenue received to be nominal within the last three months. The location of Lot 19 may be a contributing factor for being underutilized. The creation of long-term parking was suggested by our parking patrons doing business within the Justice Center area. Consequently, the time zones should be changed to four-hours in order to create long-term parking, as well as enhance revenue in Lot 19. Fiscal Impact The Agency may see an increase in revenue for visitor parking in Lot 19 by increasing the amount of time allowed to park. The increased revenues will be monitored during the trial period. Alternatives The Redevelopment Agency may choose not to approve the proposed change to Lot 19, which would defer the creation of long-term parking within the Justice Center area. Committee Action This matter is scheduled to be reviewed by the Finance Committee at its meeting of May 14,2001. Any comments or changes will be orally presented at the Agency meeting of May 15,2001. Recommendation That the Redevelopment Agency adopt the artached resolution revising the Downtown Parking Rate and Hour Schedule for the specified downtown parking facility as outlined in the report.