City Council Agenda and Packet 2019 01 22

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SUBJECT: DOWNTOWN PARKING STRUCTURE DISCUSSION DATE: JANUARY 22, 2019 PAGE 2 OF 8 • Parking demand varies by time of day with greatest shortages occurring during the afternoon and evening. Evening demand outstrips supply by a range of 130 — 325 spaces. • Should additional development be built within the existing downtown square footage cap of 475,000 sf, an additional 160-400 spaces are needed to accommodate half of a development's parking requirement (the other half would be provided within the development). • If downtown activity increases during the day, additional parking shortages will occur and further impact the Old Town neighborhood. Downtown Parking Improvement Fee The City instituted a Downtown Parking Improvement Fee (sometimes called the "Parking fee in -lieu") by Ordinance #1341 in 2000 to allow developers of property in Downtown Louisville to satisfy their off-street parking requirements by paying the fee instead of providing parking spaces directly as part of the development. Revenue from the Parking Improvement Fee is used by the City to defray the cost of providing additional public parking to serve Downtown Louisville. Ordinance #1341 outlined several reasons for instituting the fee including; • In situations where development in Downtown Louisville does not provide its own off-street parking, the parking improvement fee will provide resources necessary to offset the impact to the City of that development upon existing on- and off- street public parking which serves Downtown Louisville • The fee will be used to defray the cost of providing additional public parking which will serve Downtown Louisville and which is made necessary by new development within Downtown Louisville, and for the other parking -related purposes • The fee is reasonably designed to defray in part the overall costs of the facilities for which the fee is imposed, and that the fee reasonably relates to the needs created or contributed to by new development within Downtown Louisville • The fee established herein is dedicated to the purpose of defraying in part the costs of public parking and parking -related facilities to serve Downtown Louisville, and not for general City purposes The initial Parking Improvement Fee in 2000 was $10,000 per space. Council reduced that amount to $3,600 per space in 2002 through #Ordinance 1376. Ordinance #1594 in 2011 allowed Council to adjust the Parking Improvement Fee by resolution. The Fee was revisited in 2017 and updated to a graduated scale fee by year as follows: Year 2017 2018 2019 2020 Annually Fee Amount $13,388 $15,759 $18,261 $20,898 3.0% increase 41