Planning Commission Agenda and Packet 2009 11 12

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Existing parking capacity is significantly below pro- jected demand based on downtown development potential. Projected parking demand was based upon downtown build -out scenarios (see appendix D). These build -out and parking scenarios were evalu- ated by the Steering Committee. Even in the lowest intensity build -out scenario, and with a conserva- tive parking -to- building ratio, the existing parking supply could be exceeded in the short term. A key issue therefore is where and how to provide addi- tional parking to meet future demand and how to balance development. In providing additional park- ing, a distinction must be made between customer parking versus employee parking It has been a long- standing City policy to provide parking for down- town customers but not employees. The fundamental issues are that, as currently zoned, parking demand will well exceed the City's ability to fund additional parking spaces, and that provid- ing all the necessary parking spaces generated by current zoning would destroy the character of down- town. The City has, to date, provided 510 public spaces downtown in either public parking lots or on- street parking spaces. It is unusual for a city with a small downtown such as Louisville's to be providing so many parking spaces. The City alone cannot afford to provide the number of parking spaces required as the density of downtown development increases. Parking Proposals In general, a 700 --foot walking distance is considered reasonable for pedestrians in a downtown commer- cial area the size of Louisville. The parking lot at Spruce and Front Streets is centrally located, allow- ing for easy walking access to nearly all of down- town. Parking lots at Spruce and Front Streets, and a future acquisition of property elsewhere within the core area, should be focused for retail- oriented park- ing catering to shoppers and customers. Employee parking could be located along the eastern side of Front Street and along the railroad tracks as there is presently low intensity development in these areas. Employees should primarily utilize these remote parking lots. Key lots for employee parking could be developed to the east of Front and Elm Streets and potentially on the eastern side of the railroad tracks off Pine Street. The choice of remote parking lot locations may also relate to the results of a traffic study for the area. Private funding mechanisms would be required to develop employee- oriented parking facilities in these proposed areas. The existing municipal lot at the northwest corner of Spruce and Front Streets could be a suitable loca- tion for structured parking. Presently, sixty -six pub- lic spaces are provided in this lot. Using a different parking configuration then the existing surface lot, space yield for a structure at Spruce and Front Streets would be approximately 160 for two levels, 240 for three levels and 320 for four levels. Structured parking, while an option that provides the availability of centralized parking, is only one option of several which require full evaluation, The acceptable option will be the one that best responds to the parking demand based upon the targeted de- velopment density for downtown. Adequate land supply and cost of such options are critical to their evaluation.