Planning Commission Agenda and Packet 2009 11 12

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All Residential Uses [Note 1]: 1- bedroom unit Minimum: 1 space per unit Maximum: 1.25 spaces per unit 2- bedroom unit Minimum: 2 spaces per unit 3 -or- more bedroom unit Minimum: 2.0 spaces per unit Additional guest parking [Note 2] 1 space per 8 dwelling units in addition to the minimum offstreet parking spaces. Notes to Table 1: 1. Off street parking spaces located in an enclosed parking garage, including those in an accessory residential garage shall not be counted toward the maximum amount of spaces permitted. 2. On- street parking spaces abutting the property line(s) of the primary building housing the use may be counted toward the required number of residential guest parking spaces. POLICY RECOMMENDATION #3 Issue The LMC allows for the payment of a fee -in -lieu of the provision of off street parking spaces in Downtown Louisville. With approval of City Council, this payment can be made by a property developer instead of providing the parking spaces required by the code. Presently, the parking fee -in -lieu is $3,600 per parking space. The idea of a parking "Fee -in- Lieu" is that the City will collect the money, place it in a downtown parking fund, and build the parking spaces that the development required at a later date. The current fee of $3,600 will not cover the cost of building a parking space in Downtown Louisville. Staff collected parking space estimates that indicated the cost of constructing a parking space, including the cost of acquiring land, ranges between $15,000 for a surface space, to $30,000 for an underground structured parking space. This presents a potential problem for the future parking supply of downtown as the City will not have adequate funds to build the parking that the payment in lieu was provided for. Over the past year, staff has facilitated numerous discussions of the fee -in -lieu issue. The BRaD committee supported increasing the fee -in -lieu to more accurately reflect the actual cost of constructing parking spaces. The committee also proposed offering a tiered fee system where remodels of existing structures would pay a lower fee -in -lieu than completely new redevelopment. In a meeting on October 14, 2009, a group of Downtown business owners and property owners strongly objected to raising the fee -in -lieu at this time. The group asserted that increasing the fee would prohibit redevelopment from occurring downtown. The group also stated having a fee that is below the actual cost of providing parking is a good subsidy for the downtown area. Given the current economic climate, the group suggested leaving the fee at its current 5