Business Retention and Development Committee Agenda and Packet 2016 09 06

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Business Retention & Development Committee Meeting Minutes August 1, 2016 Page 3 of 6 David Sinkey said there is a lack of clarity from the City. Does not have confidence politically that going vertical development will be supported. Lack of use -by -right makes it difficult to invest. Mike Kranzdorf asked why there is no municipal bond or parking tax as a funding option? DeJong agreed that should be on the list. Wendell Pickett said this is a great problem to have. It is a problem if the City takes the attitude of a bank — you should not expect money back on parking. Asking private sector to pick up Operations & Maintenance (O&M) costs creates an additional tax. City must be willing to commit land and fee waivers and pay a portion of O&M. If you start today you are 4 — 5 years from having parking structure. Paid parking should be system wide. Need to think outside the downtown area box. Have downtown employees park elsewhere? Council member Dennis Maloney reiterates that if the City had the money the City would invest it. Another study would provide the same conclusion. If new public/private partnership were presented, Council would consider it. City Manager Malcolm Fleming said what we are looking for is what is the real cost to build, what is the real cost to maintain, what does a system wide paid parking cost and entail? That is where we need to start. Wendell Pickett said there are a lot of operators that do that and could come up with a proposal. Will they respond to an RFP or will they expect to be paid? It cost money to develop plans. Need to make a policy decision. There are operators who will front the money. Need commitment from City to solve problem. David Sinkey said political insecurity is because Louisville is unsure if it wants to grow. Wendell Pickett said the City needs to take the lead on it. Want to make parking more available? Use paid parking. Commissioner Menaker replied absolutely not. That pushes parking into neighborhoods. Pickett said to make neighborhood parking off limits. Discussion continued of paid parking and the use of for-profit operators. Scott Martin said paid parking does not necessarily need an operator. On street parking can pay for a structure. Commissioner Justen Staufer said we need parking restrictions on side street parking. Parking structure will be used by people if there are restrictions on side street parking. Blue Parrot parking is very convenient. City Council will have a lot of objections to paid parking but putting it on the private sector relieves pressure on Council. Biggest fear is that with Superior Town Center going in, they will draw business away because Superior Town Center has convenient parking.