City Council Minutes 2014 05 06 - Laserfiche WebLink

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City Council Meeting Minutes May 6, 2014 Page 12 of 27 2014 DOWNTOWN PARKING STUDY UPDATE No. 3 Mayor Muckle requested a staff presentation. Planning and Building Safety Director Russ presented an update on the status of the 2014 Parking and Pedestrian Action Plan. He outlined the following items, which would be presented: 1. Draft project goals 2. Review 2014 Project Findings & Conclusions 3. Action Plan Modification /Confirmation 4. Immediate Actions 5. Next Steps. Defining Downtown /Old Town Values: The values of Downtown and Old Town are very much aligned as follows: Downtown People / Quality of Life / Small Town Walkability Land Use Mix / Vibrancy Places to Eat / Restaurants Architectural / Historic Character Old Town Architectural / Historic Character People /Quality of Life /Small Town Walkability Safe Proximity to Downtown Preliminary Draft Goal Statement: "Develop an economically sustainable parking plan for Downtown Louisville that balances the parking requirements of a character rich and vibrant business district while enhancing the livability of the adjacent neighborhoods." 2014 Analysis and Conclusions: Contexts: Low Vacancies & High Performing Properties; Increasing Special Event Requests and Numerous Impacts on the Neighborhoods. Overall Summary of Conclusions and Findings: 1. The Old Town neighborhood has approximately 300 fewer parking spaces than should have under applicable standards; 2. Downtown has appropriate parking capacity for current levels of daytime activities; 3. 130 to 325 parking places needed for evening activity in Downtown; 4. 300 to 400 public spaces needed to accommodate allowed future developments; 5. A parking management plan needed for large special events; 6. Changes to the downtown parking ratios may be needed to accommodate future development in Downtown; 7. Increase in the City's payment in lieu fee option are necessary to reflect the true cost of parking Downtown (10K to $15k from $3.6k);