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HomeMy WebLinkAboutAgenda Bill 01.A-PCDC-Attch2 01/27/2003Attachment 2 Keller Street Garage Parking Fee Deport �1 S �i y � a w a i t O. ��®� ENGINEERS ®® PLANNERS �ME-R Affy ECUN0MIST • Wilbur Smith Associates 1145 Market Street Tenth Floor San Francisco, CA 94 - 1545 (415) 436 -9030 (415) 436 fax www.wilbursmith.com December 11, 2002 Mr. Paul Marangella Director of Economic Development and Redevelopment City of Petaluma 27 Howard Street Petaluma, California 94952 Dear Mr. Marangella: h . q , .y our find r egardin g ., of f rep summarizes a facility utilizat> on. and of hill revenue enerationt lour Smith Assn ate (WSA) .garage in terms .,. Y p, g )was retained by • the City of Petaluma to conduct atdeta led survey of- public parking in he greater downtown area A'key element o garage. the ar p g . w g ent of he downtown core area which includes :the Keller Street ara e. In addition to arkmutili survey WSA developed a number of "pay to park" fee surve .: alternatives for the garage. Implementation of`pay parking at the garage is considered as a means of financing facility improvements and to -cover the costs of enhanced security and annual maintenance. " The initial parking surveys conducted over -a three day period (December 2001) focused on existing utilization of he city's public on- street and off - street parking supply. Utilization as used here refers to parking accumulation, average turnover and average duration. The percent of the downtown parking supply occupied at any given hour and location over the three day period was also determined as part of this effort. SUMMARY OF PARKING SURVEY FINDINGS The com pl ete -findin e downtown parking surveys are described and documented in the Petaluma Parking Surve pr pared ahe city by WSA, .July 22 2002. The description and parking utilization characteristics of the: Keller Street garage described here are from the July 2002 report Tl e Core Downtown parking survey was conducted over a three day period in December 2001. Survey days included Thursday through Saturday (December 13 -15, 200.1). The surveys were -conducted during the pre Christmas holiday period intentionally, in order to record parking utilization during a peak period of demand. • Albany NY, Anaheim CA, Atlanta -GA, Baltimore MD, Bangkok Thailand, Burlington VT, Charleston SC, Charleston WV, Chicago IL, Cincinnati OH, Cleveland OH Columbia SC; Columbus OH, Dallas TX, Dubai UAE, Falls Church VA, Greenville SC, Hong Kong, Houston TX, Iselin NJ; Kansas City MO, Knoxville TN, Lansing MI, Lexington KY, London UK, Milwaukee WI, Mumbai India, Myrtle Beach SC, New Haven CT, Orlando FL,.Philadelphia PA, Pittsburgh PA, Portland ME Poughkeepsie NY, Raleigh NC, Richmond VA, Salt Lake City UT, San Francisco CA, Tallahassee FL, Tampa FL, Tempe AZ, Trenton NJ, Washington DC Employee- Owned;Company PETALUMA KELLER STREET cARACF .:Keller Street Garage, Description The Keller Street garage is located at the corner of Keller Street and Western Avenue in the immediate vicinity of the core downtown blocks that have the highest, concentration of commercial /retail land uses. The structure,is accessible from Keller Street only, andprovides 316 public, free parking_ spaces on three levels. There are -an additional 20 permit parking spaces located oil the ,ground level for a total of 336 parking spaces. The official stall count is 335' spaces; however the WSA inventory identified- an additional unmarked space on the second level utilized :for parking by compact: vehicles. Table, 1, shows the current garage parking, stall inventory by level and designation. 4V Keller Street'GarageUtilization Table 2 shows peak hour parking occupancy for the Keller _Street garage. 'Peak, hour parking demand was found to oc, auound °1 O0 ?M for all spaces .,(off-street and on- street); in the downtown.commercial core area dun ig survey days. The occupancy rates shown are r resenf'ativ"' f ak`h 1 4 �t�g . .g g p Y eP- e o e o f ay P much as, 20 ercent an avera a month ara e eak..hour and daily utilization would be expected 'to be 'as conditions Dunn p ° dower, t The ,average parking utilization estimate is based on previous WSA studies 11 land observed arends in a number of Bay Area,coinmercial districts. `r u Table 2 Peak Hour Keller Street Cara a Parkin ;O¢cu ancy Keller Street TlhurWa Frida 'Saturda tf; Garage y 1 Vehicles Percent Vehicles P erc6nt Vehicles Percent. AP" x ryr-3.06 91 326 97/o 286 85 %o Note: 6i- Hour : -1- :fn.' ,7 77 Core D,owntown'Com_mercial /.Retail Parking Utilization Daily parking' accumulation =for the Keller Street garage area is shown in Table 3. A focused analysis of the downtown core parking area shows that the blocks with the highest concentration of commercial /retail land uses are located between Washington Street and Western Avenue north to south Page 2 of'8 WIL'BUR SMITH ASSOCIATES` - Table.]. Summa. , o Keller Street Gafg$e S .aces Type of Space Street Level nd Level Roof Total 2' -Hour Time Limit 80 0 0 80 4 -Hour Time Limit 0 55 0 55 8 -Hour Time Limit 0 58 _ T'19 177 Permit 20 0 0 20 Handicapped. (Blue) 4 0 0 4 Totals 104 1`13 Source WS'A �invantnn, - 'rl.nw,,;ho �nnr 119 336 4V Keller Street'GarageUtilization Table 2 shows peak hour parking occupancy for the Keller _Street garage. 'Peak, hour parking demand was found to oc, auound °1 O0 ?M for all spaces .,(off-street and on- street); in the downtown.commercial core area dun ig survey days. The occupancy rates shown are r resenf'ativ"' f ak`h 1 4 �t�g . .g g p Y eP- e o e o f ay P much as, 20 ercent an avera a month ara e eak..hour and daily utilization would be expected 'to be 'as conditions Dunn p ° dower, t The ,average parking utilization estimate is based on previous WSA studies 11 land observed arends in a number of Bay Area,coinmercial districts. `r u Table 2 Peak Hour Keller Street Cara a Parkin ;O¢cu ancy Keller Street TlhurWa Frida 'Saturda tf; Garage y 1 Vehicles Percent Vehicles P erc6nt Vehicles Percent. AP" x ryr-3.06 91 326 97/o 286 85 %o Note: 6i- Hour : -1- :fn.' ,7 77 Core D,owntown'Com_mercial /.Retail Parking Utilization Daily parking' accumulation =for the Keller Street garage area is shown in Table 3. A focused analysis of the downtown core parking area shows that the blocks with the highest concentration of commercial /retail land uses are located between Washington Street and Western Avenue north to south Page 2 of'8 WIL'BUR SMITH ASSOCIATES` - _ PETALUMA KELLER STREET GARAGE and Water Street to Keller Street (east to west). This core sub -area is identified as.Zone A in the WSA July 22, 2002 report. The four'block Zone A area includes 204 on- street spaces (primarily 2 -hour limit) and 3.54 off= street'spaces (336 spaces in the Keller Street garage and I& spaces in the surface lot located between North Petaluma Boulevard and Water Street) for a total of 558 spaces. Over the three day survey period on- street parking in Zone A was found to meet or exceed the 90% "practical capacity" threshold -a total' of 20 hours out of the 36 hour survey period (56% of the time). Practical capacity is a term used to a parking supply which is at or near saturation. While the peak hour for overall occupancy remains 1:00 p.m. for all three survey days, the on- street peak parking period in this area extends from about 10:00 a.m. to at least &:00 p.m. with peak hour occupancy occurring at 4:00 p.m. and 7:00 p.m. on Thursday, .noon and 4:00 p.m. on Friday and 2:00 p.m. on Saturday. Peak season demand accounts to some extent for the near saturation conditions for on- street parking between noon and 4:00 PM. However, a license plate survey of the core area public parking supply and other downtown parking zones 'indicated the use of the two hour parking supply for some long term employee parking. In addition, on all three survey days between the evening hours of 6:00 p.m. and 8 :00 p.m. core on- street parking is near or above the "practical capacity" threshold (90% full) while the off- street supply (primarily the.Keller Street garage') is lightly utilized (under 30 %). Reasons for this imbalance =may have to do with convenience and the availability of on- street spaces to nearby primary commercial.destinations, - however it may also indicate perceived safety and security issues related to use of the garage- dunngyevenmg hours n . c , _ 3.77790 Page 3 of 8 WILBUR SMITH.ASSOCIATES x Table 3 NO W ..:. r Downtown Core, -ommercial/RetailArea Public Parking Accumulation Time 'Thursday Friday Saturda Off- All On- Off All On- Off- All Street,.", Stfeet S aces Street Street Spaces Street Street Spaces 8:00 AM " 26 %6 ' 16% 20 % . 27 % 17% 20% 23% 16% 18 9:00 48 %. :i '..38% 41 % 54% 40% 45 6.1% 24% 37% 10:00 V/o ', ' 49% 58 % 82 6 /o 61% 69% 88% 44% 60% 11:00 86% 69% 75% 85 % 77% 80 % 90% 75% 81% Noon 900/, 81% 84 94% 95% 94% 93% 85% 88.% 0, S 2"r 00 ° 87;/0 ° 8&% 84 % 86% 98% 82% 88% 3:00 92% ' 70 % ° 78 % 92% 73% 80% 97% 74% 82% 4.,00 93% _ ,; ;67% 76% 94% 66% 76% 95% 65% 76% F92% 62 %' 73% 84% 52% 64% 86% 45% 60% 6:00 85 9 16 ,...,. 4'1 %" ,.,.5:7% 86% 33% 52% 91% 34% 55% 7:00 PM 93 %�` `•' ,30 ''53% 90% 23% 48% 93% 23% 48% Note. g accumulati duringAhe'peak holiday season. Average daily accumulation estimated at 15 to 20 p ercent s than day conditions., - Shaded area represents overall peak hour conditions. Source: WSA Zone A;Surve s - ..December 2001. 3.77790 Page 3 of 8 WILBUR SMITH.ASSOCIATES PETALUMA KELLFR ST.RFFT GARArF Utilization of Two -hour Public Parking Spaces Generally, . parking turn-over and duration data .indicate a efficient use of the; on- street, short-term parking supply. Iri -other words,, the number of vehicles found to exceed the two -hour limit was "low. Detailed parking turn= over.and duration findings are documented in the July 22, 2002 report. However, data base was made in order to identi � o twntown core area, a search of the survey license plate because of the near saturation conditions in fy p _ ntial use of short-term downtown parking spaces. by employees.. The data base was queried to identify license.plates recorded using two -hour ;parking spaces multiple times during a day, within a specific area and within the overall dowrrtown.core area. This analysis differs from establishing parking duration which is the average length of time that a given space is used by,a single vehicle the case of multiple uses a license plate could be recorded in the on- street parking area near the garage for just under two hours, recorded again for just under two hours in an adjacentzone and,.tecorded two more times in another downtown zone ; at two different short-term spaces: This type of "jump parking" is . characteristic of employee use of the on- street; short-term parking supply. The practice of dump parking by employees within an area of constrained supply can have negative economic impacts' on local business operations. 'The detailed ;findings of the. license plate survey are documented in the July 22, 2002 report.. The analysis of the license plate survey, indicates that the, two-hour downtown arkin su f is bein used D urin g p g pR Y g Zones A, B and C t 405 vehicles were ident f hg ed u sn two our w e e k day s, aces o or the overall downtown` area Y p Y ( ) g p three or more hours;. These . vehicles accounted for about 1900 hours of parked`time (39 percent) of the. average; dailyweekday total of 4;900, hours parked time for the two -hour space supply. 14 The license late .'survey found that an average of 225 vehicles use the downtown, two-hour limit .parking supply •for a minimum of four hours during weekdays. These vehicles account "for almost 1 '365 parked hours, or 28, percent of the total weekday hours parked in ;.the two 1?p y. . hour su 1 The - cor.e commerciaUretail area (Zone A) shows the highest number of "jump: parking" incidents (9.1 vehicles) of four plus hours ;during -a weekday: These vehicles account for approximately 25 .percent of''the, total daily weekday °hoursparked 'in the :on- street two h.OW, spaces in the four :block area around e: the ara g g Vehicles parking for three or'more 'hours in the area, of the Keller. Street garage account for 35 percent of the daily total hours parked in the Zone A, 2 -hour on- street 'supply.' Impact-cif Emplo. ee On S Employee treet :Park'ng . The extended use of the downtown core 2 -hour commercial arkin su . b. local employees, ._ p P g: I?p'l Y f Y ees, and P Y others is evident in the results of the license late survey. While `not illegal, extended use ( "jump. parking") of the 2 -hour supply works counter to the intended purpose- of short= term,.commercial oriented I?mP parking. In terms of potential lost revenues (sales ;and;.taxes) the effect is more ,pronoun existing; short ced when the -term parking supply is , constrained (90 percenti or more :of capacity) .as it is in the Iran• . r :cL ✓� p p g utiation estimated 75 g ns with peak parking. employee: p g woul utilization at sea son, 'holid he impact of em o d likel �:be Mess in economic Y terms, However, the use of the .public short-term parking supply by employees ,and others' should be discouraged under all conditions in order to promote current and. future commercial growth. 377790 Page 4 of 8 WILBUR SMITH'ASSOCIATES PETALUMA KELLER STREET GARAGE The City must be able to exercise flexibility in the management of public parking facilities. Demand for ,0 short-term public parking is sensitive to both general economic trends and local land use decisions. . New construction, extensive public works projects or the expansion' of existing commercial uses are among some of the activities that can result in the displacement of existing public parking. An effective approach to keeping employees from using short-term, on- street parking,supply would include increased employees. i o Use of the Keller Street garage for local employee lth�kable, ,off - street parking options for parking needs is under consideration by the city. A description of basic operating costs and parking fee alternatives for employee parking in the garage is provided in the remainder of this letter report. PARKING RATE ALTERNATIVES WSA assessed a number of fee p arking revenue alternatives for the Keller Street garage. The purpose in considering a pay to park program for the structure is twofold. Revenue generated by the garage would be used to provide for on =site security patrols and to fund annual maintenance costs. In addition, the mid and roof levels of the garage (232 spaces total) would be leased to business owners, employees and others on a monthly basis in order to free up on- street, short term parking to visitors and business patrons. The ground level would continue to provide short term parking (104 spaces) in the area at an hourly fee. This plan would result in an increase at the garage of'the short-term supply from 80 spaces to 104 spaces. . are p e, �inein r tiated with the awarding of 11 a bid to make ;improvements. The planned A ctions to' improve the structure and address security concerns shave been lm armed im rovements includ r features: Measures lanned,`to cover window ,o enin s in order :to kee hghting and access control P p g d 1 p FY 2 -birds . from roosting. In ty p g g .is funded for 0.02 -03. - addition to physical improvement a. securi atrol of the ara e �' Annual Operating 1 Costs /Fee. Rate Alternatives •° � ��4 �r�r ' VA. , The city has estimated annual •garage security and maintenance costs as..shown: Annual. Expenditure. Estimate:r " ,. Security: $169,000 Facility Maintenance: $ 50,000 Equipment Maintenance: 15,000 Total Expenditures $234 Based on the * parking survey and`the proposed parking strategy, several alternative fee structures were considered, all emphasizing monthly permit parking on the top two floors of the structure and hourly pay parking on the ground floor. }Y . Table 4 shows three fee rate alternatives. Alternative A and Alternative C would be expected to generate sufficient revenue to recover annual expenditures. Alternative B would require a subsidy in • order to meet annual costs. 377790 Page 5 of 8 WILBUR SMITH ASSOCIATES' PETALUMA KELLER STREET GARAGE Garage Revenue Estimates Table 5• shows estimates of annual revenues associated with each of the three fee structure alternatives. Estirziating g a rking garage revenof free parkin s in the mane are numbe o f affected by a ariables, v chief anion them is the: availab g y _ the garage and the overall state.of the local econom A conservative approach was taken- to the 'development of revenues for the Keller Street garage, particularly in terms of the street level short term supply. Background tables related to revenue estimates areprovided in. an Appendix to this letterreport. " zc `Y Table 4 summory Keller`Street: Gard e Fee -Rate Alternatives Fee Structure Street. Level. 2 "d Level Roof Alternat ve.A $1.00/hour $40 /month $1.,00/hour Alternative B $1,00 /first 2 hours +.50/hour thereafter $40 /month $30 /month Alternative C Q'n.. i. 1XIL -A 1`AIAn $1.00/hour $30 /month $20 /month . Garage Revenue Estimates Table 5• shows estimates of annual revenues associated with each of the three fee structure alternatives. Estirziating g a rking garage revenof free parkin s in the mane are numbe o f affected by a ariables, v chief anion them is the: availab g y _ the garage and the overall state.of the local econom A conservative approach was taken- to the 'development of revenues for the Keller Street garage, particularly in terms of the street level short term supply. Background tables related to revenue estimates areprovided in. an Appendix to this letterreport. " zc `Y x'evenues'`based on' 1,04 ground level spaces q t revenues :base&on 12'hour day annual weekday = 250 .days - annual sweekend = :1001 days d'aily•hours parked. adjusted down.25% to account for use of peak season data. an average duration rate :of 2.5 hours per vehicle is assumedlfor Alternative 'B Revenue' estimates for the 2 nd and roof levels ,are based on,a'lease rate of 7S percent, This represents a total,of 1`75 spaces leased per�month. The 75 percent lease rate was identified, by city staff as reasonable ,and was used , on that, basis. Table A -3 1n the Appendix to this letter report provides revenue estimates for;the 2nd and roof °levels under several levels of percent leased. The ground level revenue estimates were developed based on findings from,. the parking surveys of the garage and overall'represent a conservative approach. Table A -2 in the Appendix shows` a peak seasonal weekday and weekend parking accumulation of the short term garage spaces. This accumulation pattern was used to model the daily estimated total hours parked on the street level. The number of daily hours • r" c • 377790 Page 6 of 8 WILBUR SMITH ASSOCIATES Table 5 S'ummary�o - Keller;Street Gara e'Annual.Revenue,Estimates Fee Stru'dure Alternative A Alternative =B Alternative C Street Level $187000. $411-000 $187,000 2" 'Level $41,000 $41,000 $30,000, Roof $32,000 $32,000 $21 Total $260,060 $184;000 $238;000 x'evenues'`based on' 1,04 ground level spaces q t revenues :base&on 12'hour day annual weekday = 250 .days - annual sweekend = :1001 days d'aily•hours parked. adjusted down.25% to account for use of peak season data. an average duration rate :of 2.5 hours per vehicle is assumedlfor Alternative 'B Revenue' estimates for the 2 nd and roof levels ,are based on,a'lease rate of 7S percent, This represents a total,of 1`75 spaces leased per�month. The 75 percent lease rate was identified, by city staff as reasonable ,and was used , on that, basis. Table A -3 1n the Appendix to this letter report provides revenue estimates for;the 2nd and roof °levels under several levels of percent leased. The ground level revenue estimates were developed based on findings from,. the parking surveys of the garage and overall'represent a conservative approach. Table A -2 in the Appendix shows` a peak seasonal weekday and weekend parking accumulation of the short term garage spaces. This accumulation pattern was used to model the daily estimated total hours parked on the street level. The number of daily hours • r" c • 377790 Page 6 of 8 WILBUR SMITH ASSOCIATES PETALUMA KELLER STREET GARAGE s a for both weekdays tr wee-tsl a ccount for seasonal activity. Daily .total parking hours were reduced by 25 p ercent y and weekends to reflect: an estimate of average season daily use. The estimates of revenue for all three garage levels are based on 12 hour days. This approach is conservative in light of the cit 's proposed plan too operate the garage on Monday throw Thursday and Sunda Y p p p p g g Y � Y Y from 5:00 AM. to 11:00 PM (18 hours /day) and Friday and Saturday 5:00 AM to 1:00 AM. (20 hours /day). Parking Fee Strategies: Table 6 shows that fee options A or C would provide sufficient revenue to fund garage operations based on City estimates of annual recurring costs. These costs were estimated at $234,000 per year for security and maintenance. Bot fi options are predicated on the basis of a 75 percent monthly lease rate and that the demand for ground level short-term parking continues at existing average daily levels. Table Keller Street Gara a Cost Recovery Alter..natives. Annual Operating Costs Alternative A Alternative B Alternative C Security $169,000 $1.69,000 $169,000 Facility Maintenance $50,000 $50,000 $50,000 Equipment Maintenance $45 $15,000 $15;000 Total Expenditures $234,000 $234,000 $234,000 Annual Revenue Estimate, $260 $184,000 $238,000 Net Surplus - (Deficit) $26000 ($50 $4,000 'Source: WSA 10/02 4, . Conclusions The downtown area provides an ,overall: adequate parking supply under average daily conditions an a near, or at cap acct „Burin eak,,seasonal demand '� Y g p d December holiday and some summer weekends An rw z: �i ( Y c i ) adequate parking supply is a general term in that there are specific, locations where on- street, public x ` Y �`. parkin demand is higher than the surrounding areas. Kentuck Street between Washington Street and = f Western A "venue is an area of high demand (85 percent during,.peak periods.) during average season conditions. Water Street,is another' area where parking demand (85 -90 percent during peak periods) is strong throughout the year: Key-to 'mana "n the existing parking supply would be the Poll r qr � g gp g pP Y owing steps: }y r Within the t:R �� r`° that there are between 25 to 15.0 v weekday license plate surveys mdicates. �� ',V 4 Increased enforcement core downtown area. The w �; . eludes which daily exceed .the 2 =hour time restriction on short- term spaces. It is noted that some of these vehicles do receive citations and that others fall outside the past 6:00 PM limit. On Saturdays the incidents of 2-houri violations are approximately 15 percent higher than weekdays. 377790 Page 7 of :8 W/LBUR SMITH ASSOC/AM* PETALUMA KELLER STRFFT GARAC)F • Reducing employee use of downtown core, 2 -hour on street parking, supply. The license plate survey ndicates that a roximatel 28' percent 1 365 hours of all weekda hours parked in the y pP ' y p � (, ) y' p downtown core 2-hour parking supply are attributable to vehicles parking for four or more hours during the weekday. Providing long -term, off - street parking for local. employees in the Keller Street Garage would address the problem of "jump parking" in the downtown area. The garage currently provides long -term (4 -hour and 8'- hour) spates on -the: second and third.levels. In addition, there are 20 permit Tong-.term spaces on the second level wich are lea' sed'to users -on,a monthly basis. During average season weekdays the garage operates at around,60 to 65 percent occupancy; which means that there is typically 1001o vacant spaces available. The Keller Street Garage is located within a 1'0- minute max imm u walking distance of most locations in the greater downtown core area (Zone A and B), These zones represent the bulk of "jump parking activity'in the- downtown area. Planned'improvements to the..Keller. Street Garage including security ° measures and general refurbishing will make this facility more attractive to local employees as a viable long -term parking option. y Please contact us with an questions �of c omments regarding this letter report. Sincerely, WILBUIt SMITH ASSOCIATES Ronaldl A. C.P. Principal Transportation Planner RJF /sph. 377790 Attachment A: • F_j 377790 Page S of 8 r� iA wtiY Ft Appendix Revenue,Estunatf WILBUR SMITH A 4Sn(' /A-rFc • k4l '61 • 0 TABLE A -1 Keller Street Garage Fee Rate Alternatives Level Spaces Ground 104 Mid 113 Roof 119 Total 336 Y �.r Y� A F, Alternative,A $1 /per hour $40 per month $30 per month $1 /first 2 hours Alternative B .50 /per hour $40 per month $30 per month thereafter Alternative C $1 /per hour $30 per month $20 per month WSA -10/02 !� � I "say' W- A , 70•. J R1'f�Pikh}n.. F 5 � .i NT Y �.r Y� A F, rt S4i y . Y "'r4 1 .1 — TABLE A -2 Revenue Estimates - GroundLevel Spaces - grountl level 104 '•1 - Dailyhoursofparking 1,246 8' 9 10 11 .poop _1. 0 41, 0.30 2 3 4. 5 6' T Weekday percent houdy occupar 0 16' 0 38 0 49 0 69�rr 0 81 6.90 r 0.85 0 70 0 67 0.62 . number o/ parked vehG iY d 17 40 _ 51 72gq r 94. 88 - 73 70 64 43 t, 31 total hours parked""'��,' 1726 - ' _�� _ �) p pn 'k a >J M. adjusted hours arked' *� � -, 8 { �' - w s F i daily t annual.(250)g'p }��'� �. Cu ule A - ` $544 $136 1 �' -` rr r - .ti y, Rate Schedule B +"' • $363 -, $90 7 40} c ' .,� " ' $tee , 1 ' q r4 ' Rate Sched Weekend time r ^h 3r:�� �,' 10 - 11 .- noo percent hou n 1 2 a 3 y 4 5 6 7 dy occupar ` 0 18. - L.a� , 24r. � 044. 0 75 0.85 0.85 0 -82 0.74 '`' 0.65 0.45 0.34 0:23 number of parked Jehir_ 17 `�^ _-' 25 -r , e ` 46 78 88 88 85 77 68 47 35' 24 total. hours parked '678 - adjusted hours parked 509 i Y daily annual (100) • 'Rate Schedule A $509 $50.856' Rate Schedule B $203 $20,342 Total Annual Revenues Rate Schedule A $166;966 Rate Schedule B $111,082 Notes: revenues based on 104 ground level, spaces only revenues based on 12 hour day annual'. weekday =250 days annualweekend 100 daily hours parkedad)usted down 25% to account for use of peak season data. an average duration . rate of 2.5 hours per vehicle is assumed for Schedule B. • TABLE A 3 Revenue Estimates = Mid -Level Total Spaces 11;3, Percent Leased 4 t Percent Leased 25% 50% 75% 1.00 %° 25 °l° 50% 75% 1.00% OOKmonthly fate; Monthly Revenue Annual Revenue Alternative A $13,560 $27,120 . $40,680 $54,240 $40 x $1 130 $2;260 $3,390 $4,520 Alternative B= 40, - $1 1301 ,- $13,560 $27 $40,680 $54,240 $ $2,260 $3 $4 x Alternative C _` $30 x;$848 $1,695 $2;543 $3;390 V. = $ 10;1 70 $20,340 $30,510 $40;680 Revenue Estimates Roof Level r i lip _ -- Total Spaces 11 "g Alternative A Alternative B Alternative C monthly rate $30 $30 $20 Percent Leased 25% 50% 75 %° 1.00 Monthly Revenue $893 $1,785 $2;678 $3,570 $893 $1 $2 $3,570 $595 $1 -,190 $1,785 $2,380 Percent Leased 25% 50% .75% 1.00% Annual Revenue $10,710 $21,420 $32,130 $42,840 $10,710 $21,420 $32,130 $42,840 $7,140 $14,280 $21,420 $28,560