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When the fee was $10,000 /space in years past all potential development projects were <br />killed downtown. <br />If the Parking Fee -in -Lieu is raised too high, it might be more cost effective to scrape an <br />adjacent building and build a parking lot. The bank was identified as an example of this. <br />The $3,600 currently charged for downtown parking is probably low but maybe it is a <br />good subsidy to offer to downtown businesses. $6,000 per space may be a more <br />acceptable fee. <br />A recommendation was made to set a date in the future (maybe 3 years) when the fee <br />might increase, but now is not the time to do it. <br />The parking space cost estimates gathered by staff are too high. <br />Offering a half price fee -in -lieu for remodels may be good for the character of downtown, <br />but logically it doesn't make any sense in terms of getting the parking requirements <br />correct. <br />