Title
A Resolution Authorizing Free On-Street Metered Parking on Saturday, November 29; Saturday, December 6; Saturday, December 13; and Saturday, December 20, 2014
Body
From:
Greg Warnke, Parking Administrator, Parking System
Summary:
For the past several years, City Council has approved several days of free on-street metered parking during the holiday shopping season to help bolster sales. Again this year, the Downtown Partnership (see attached letter), the Old Colorado City Security & Maintenance District, and the Old Colorado City Merchants Association have requested that City Council grant these days of free on-street metered parking. As with last year, the days requested are the four Saturdays in November/December prior to Christmas Day. This request is for on-street parking only and does not apply to private or City-owned off-street garages or lots. All other regulations would also remain in force including the meter time limits, loading zones, meter hoods, etc. Parking Enforcement would cite parkers violating overtime or other restrictions.
Previous Council Action:
City Council has approved this request each year beginning in 2003 through last year, 2013.
Background:
In December 2002, the Denver Post published an article reporting Mayor Wellington Webb had authorized free on-street parking December 23-25, 2002. This action was in response to a decline in retail sales in downtown and LoDo. His intention was to attract more shoppers to these areas thus bolstering sales tax revenues.
A local retailer presented this article to the Downtown Partnership Board and asked for support in requesting the same offer be made in the Colorado Springs area during that upcoming holiday shopping season. The Downtown Partnership unanimously agreed and presented this request to the Parking System for consideration.
Since the initial request, the Downtown Partnership and Old Colorado City Security & Maintenance District have made annual requests to continue this offering by the City Parking System.
Financial Implications:
To offer free on-street parking for four days could cost the Parking System up to $27,200 in uncollected revenue. This figure is based on average daily revenue collected during June 2013.
However, if this program is successful and retail/restaurant sales improve, the City would realize an increase in sales tax revenue offsetting a portion of this amount.
Board/Commission Recommendation:
The Downtown Partnership Board, the Old Colorado City Security & Maintenance District, and the Old Colorado City Merchants Association all support this action.
Stakeholder Process:
N/A
Alternatives:
The Parking System could charge the normal parking fees at on-street parking meters during these dates.
Recommended Action
Proposed Motion:
The Parking System recommends approval of the attached resolution again this year; however, we would like to reserve the right to consider this request each year. This is only in response to the ongoing economic condition. Covenants of outstanding Parking System revenue bonds require the Parking System to maintain adequate revenues to ensure debt service and operational costs are covered.
Ordinance Language
N/A