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Table of Contents <br />1.0 Study Background & Purpose.................................................................................................................1 <br />1.1 Stakeholder Outreach.........................................................................................................................1 <br />1.2 Existing Conditions.............................................................................................................................. <br />2 <br />1.3 Demand Analysis.................................................................................................................................5 <br />2.0 Downtown Parking Management Plan...................................................................................................7 <br />2.1 Program Goals and Guiding Principles................................................................................................7 <br />2.2 Program Challenges............................................................................................................................9 <br />2.3 Recommendations............................................................................................................................10 <br />A. Adopt Goals and Guiding Principles................................................................................................10 <br />B. Refine Organizational Structure......................................................................................................10 <br />C. Simplify Parking Time Stays............................................................................................................11 <br />D. Update Rate Policy and Pricing.......................................................................................................14 <br />E. Residential Permit Parking..............................................................................................................19 <br />F. Employee Parking Solutions............................................................................................................22 <br />G. Identify and Communicate the Parking System............................................................................. <br />23 <br />H. Integrate Parking Technology.........................................................................................................23 <br />I. Manage Parking Fund to Solvency...................................................................................................25 <br />J. Encourage Transportation Demand Management <br />(TDM)...............................................................26 <br />2.4 Parking Strategy Matrix....................................................................................................................29 <br />3.0 Parking Management Plan Costs and Revenues...................................................................................30 <br />3.1 Introduction......................................................................................................................................30 <br />3.2 Program Costs...................................................................................................................................30 <br />Smart Meters versus Multi -space Meters..........................................................................................30 <br />Off -Street Lots with Multi -space Meters............................................................................................31 <br />CityLabor Costs................................................................................................................................... <br />31 <br />Third -Party Parking Manager..............................................................................................................31 <br />3.3 Program Revenues............................................................................................................................31 <br />MeterRates & Price Escalation...........................................................................................................31 <br />Mobile Payments versus Credit Card Payments.................................................................................31 <br />EmployeePermits...............................................................................................................................32 <br />Residential Preferred Parking Permits................................................................................................32 <br />CitationRevenue.................................................................................................................................32 <br />3.4 10 -Year Proforma Model..................................................................................................................33 <br />