Reasons For Parking Modernization
Why Is The Administration Proposing This Partnership?
This is an Economic Development Plan.
- Restructuring our management of parking allows dollars to come to the City's general fund in an upfront payment.
- This can be leveraged to create jobs and business growth now to provide ongoing tax revenue for the next 30 years.
Parking is a key resource to support:
- Economic and business growth and retention
- Special events and tourism
- Residential vibrancy
Parking availability and convenience is a core City function.
Parking System operation is not a core City function.
- Little incentive for public sector to fund ongoing technology and innovation
- City can't match timeliness and efficiency of implementing technological advances
Goals Of Parking Modernization
- Increase Value of Parking System
- Improve Financial Flexibility of Parking Revenue
- Partner with World Class Operator
- Choose Partners with Technical Expertise
- Maintain Competitive Parking Rates
- Enhance Customer Service, Safety, and Security
- Ensure Construction of the Sycamore Garage
- Retain Public Oversight
- Support Business Growth
- Increase efficiency & innovation to ACCELERATE GROWTH