Fiscal Note
This Resolution would amend the 2008 Parking Utility adopted capital budget to provide an additional $60,000 for the purchase of multi-space meters, in addition to the $100,000 that is currently included in the budget (Project No. 7, "Parking Revenue Equipment," Account No. 810421). The Resolution will also amend the Parking Utility CIP to included funding of $640,000 in 2009 and $200,000 in 2010 for the purchase of multi-space meters. All funding for the projects will be supported with Parking Utility revenues; no city tax dollars would be used to purchase these meters.
Title
Amending the Parking Utility’s 2008 Capital Budget in order to purchase additional multi-space meters and approving the Parking Utility’s issuance of a Request-for-Proposal for multi-space parking meters.
Body
WHEREAS, the Parking Utility's meter stock is old and in need of replacement. The average parking meter is approximately 10 years old;
WHEREAS, considering the current and future parking rates, it is impractical to only allow customers to pay parking meters with coins. Often times, parking customers are willing to pay for metered parking but they simply have an inadequate amount of change on hand. If parking customers have the opportunity to pay for parking using a different method other than coins, perhaps the number of citations would decrease and customer satisfaction would increase;
WHEREAS, there is a relatively new meter technology that allows customers to pay by credit/debit/smart cards and have other customer friendly features such as prepaid time at the beginning of the day;
WHEREAS, the new meters, which accept credit/debit/smart cards, are generally, more expensive to purchase, operate and maintain than traditional parking meters. It is estimated that the rates charged by the new meters would have to be $.20 per hour higher than the older meters in order to offset the higher estimated costs;
WHEREAS, the Transit and Parking Commission has alre...
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