Planning Commission Agenda and Packet 2009 11 12

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level or waiting until things improve before increasing it. A complete summary of the meeting notes is included as Attachment 3. Staff's initial recommendation was to increase the Fee -in -Lieu to $15,000 /space (cost of surface parking space) for new construction and $7,500 /space for renovations of existing buildings. The intent of this recommendation was to set the fee -in -lieu equal to the cost of building a surface parking lot space and to provide a discounted fee for renovations of existing buildings. Staff requests that the planning commissioners discuss potential changes to the fee -in -lieu. Staff has outlined three potential options to help facilitate the discussion. Option 1 Take no action. The fee -in -lieu of parking will remain at $3,600 /space. Option 2 Set a date in the future when the fee -in -lieu will increase to a set level. Option 3 Increase the fee -in -lieu of parking to $15,000 /space (cost of surface parking space) for new construction and $7,500 /space for renovations of existing buildings. POLICY RECOMMENDATION #4 Adopt existing MUDDSG standards to allow parking credits and reductions for the following. a. Credit for on- street parking adjacent to the development b. Reductions for shared parking c. The use of remote parking Rationale The parking study revealed that there is an excess amount of parking in the downtown area. These policy amendments are intended to more efficiently use parking resources. The LMC currently requires that all of the required parking for a development be provided on site and off of the street. The proposed changes would enable new development to use the on street parking spaces that already exist downtown to meet a portion of their parking requirement. Shared parking agreements would allow, for example, the parking required for a bar (nighttime use) to be shared with the parking for a bank (daytime use). Remote parking agreements would enable a centralized parking structure that accommodates the needs of many different downtown businesses in the future. As proposed, buildings could utilize remote parking garages up to a quarter mile away. Suggested Amendment to LMC Text to be Added Sec. 17.20.025. Parking standards designated for Downtown Louisville. I. Credits and Reductions. 1. Credit for On- Street Parking. On- street parking spaces abutting the property line(s) of a primary nonresidential building may be credited toward meeting the minimum required off street parking spaces. On- street parking spaces abutting the property line(s) of a primary residential building 6