Revitalization Commission Agenda and Packet 2017 12 11

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REQUEST FOR PROPOSALS FOR Downtown Louisville Parking Analysis and Strategy Section 1: Purpose, Background, Timeline, and Budget PURPOSE Downtown Louisville has experienced significant economic growth in recent years. Retail activity has increased, building vacancy is very low, and property owners are considering redevelopments to satisfy market demand and business growth. Downtown property owners and businesses perceive the current supply of on -street and off-street parking as inadequate to facilitate the economic activity level in the downtown area and allow for additional growth by way of properties redeveloping. Downtown Louisville is surrounded by residential neighborhoods. Parking on residential streets is the `release valve' for the lack of downtown parking for customers, visitors, and employees. Residents have expressed concerns for the over -utilization of parking on the residential streets. The LRC is interested in engaging the services of a Consultant to: 1. Evaluate the condition and usage of current public parking assets in downtown Louisville. Identify needed improvements and priority for such improvements. 2. Determine the needed amount of public parking to achieve an efficient parking system for current and full buildout of the downtown area, address Old Town Residents parking concerns, and facilitate the future RTD train station. 3. Develop a strategy to achieve an efficient downtown parking system that addresses the current needs and at full buildout of downtown. The strategy should include supply and demand side solutions to address parking needs. Such solutions may include construction, operation and maintenance of a parking structure, so that costs to operate are borne by users of the parking system and have minimal impact upon existing City of Louisville revenues 4. Estimate revenues and costs to implement various parking solutions and identify implementation of various revenue sources including; parking revenue, Tax Increment Financing (TIF), Special District revenue, City financing, public-private partnerships, etc. 5. Develop a special event parking strategy to best address neighborhood concerns during high attendance events. BACKGROUND City of Louisville, Colorado, incorporated in 1882, lies in Boulder County roughly six miles east of the City of Boulder and 25 miles northwest of Denver. Its early development was built upon the coal mining and agricultural uses of the time. Louisville has grown to approximately 20,000 residents and has a diversified economy specializing in the advanced manufacturing, bioscience, health and wellness, outdoor recreation, aerospace, and technology industries. 2