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Louisville <br />COLORADO • S1NC N - <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM II <br />SUBJECT: <br />DISCUSSION — SETTING A NEW AMOUNT FOR THE PARKING <br />IMPROVEMENT FEE FOR DOWNTOWN LOUISVILLE <br />DATE: MAY 9, 2017 <br />FROM: AARON DEJONG, ECONOMIC DEVELOPMENT <br />ROB ZUCCARO, PLANNING DEPARTMENT <br />SUMMARY: <br />As part of Council's 2017 Workplan, Council asked staff to analyze options for the <br />Parking Improvement Fee amount and recommend modifications. <br />Options available to Council range from (1) charging the full average cost of <br />constructing and maintaining a parking space, which staff calculate to currently be about <br />$21,900, to (2) discounting the full average cost by an amount intended to reflect there <br />are community benefits associated with a consolidated public parking system, and to <br />provide an incentive for property owners to participate in such a system, to (3) <br />eliminating parking requirements entirely and letting the market and individual property <br />owners determine for themselves how much parking they need to serve the occupants <br />of their developments. <br />Based on review of the local costs to construct, operate and maintain a surface parking <br />space (including land, construction and maintenance costs), and on the community <br />benefits of having a Parking Improvement Fee available, which could justify a reduction <br />in the fee from the full average cost of a parking space, staff recommends the Parking <br />Improvement Fee be increased according to the following table: <br />Year <br />2017 <br />2018 <br />2019 <br />Annually <br />BACKGROUND: <br />Parking Improvement Fee <br />$13,000 <br />$14,000 <br />$15,000 <br />Previous year amount x Denver All Item CPI <br />(CPI increase from 2018 to 2019) <br />History of the Fee <br />The Downtown Parking Improvement Fee (sometimes called the "Parking fee in -lieu") <br />was established by Ordinance 1341 in 2000 to allow developers of property in <br />Downtown Louisville to satisfy their off-street parking requirements by paying the fee <br />instead of providing parking spaces directly as part of the development. Applications to <br />use this approach must be approved by City Council. Revenue from the Parking <br />Improvement Fee is used by the City to defray the cost of providing additional public <br />parking to serve Downtown Louisville. <br />COUNCIL COMMUNICATION <br />