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Consider Authorizing the Town Manager to Proceed with Financial Planning for West End Parking Deck and Call a Public Hearing on February 12, 2020 Related to the Parking Payment-in-Lieu Program.
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Staff:
Department:
Dwight Bassett, Economic Development Officer
Manager's Office
Judy Johnson, Interim Director
Planning
Meg McGurk, Community Safety Planner
Police
Overview: In response to Council's interest in supporting parking for an economically vibrant downtown, staff completed an engineering study of a potential West End Parking Deck and is exploring a Parking Payment-in-Lieu program. In February, Council asked staff to move forward on several goals including engineering for the West End Parking Deck. The Council Committee on Economic Sustainability received an update on engineering for the West End Parking Deck in September and forwarded it to this Council meeting.
Staff is also working on a Strategic Plan for Parking with goals toward fiscal management and parking sustainability.
Recommendation(s):
That the Council adopt the resolutions authorizing the Town Manager to proceed with financial planning for a West End Parking Deck and call a Public Hearing for work associated with the Parking Payment-in-Lieu program.
Decision Points:
* Authorize the Parking Deck as a part of the FY2021 Budget consideration and consider financial tools to support the debt.
* Explore tools for the Parking enterprise fund to support the debt for the West End Parking Deck. Specifically consider the Parking Payment in-Lieu (PPIL) program as way to manage land use, tax base growth and financial support for our parking fund with the following Parking.
Key Issues:
* Add economic vitality downtown through better management and growth of parking resources.
* Encourage future developments to better utilize land through use of a Parking Payment-in- Lieu program and encouraging stronger tax base growth in new development.
Fiscal Impact/Resources: Parking Deck cost approximate...
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