Full Text
Downtown Starts here. MEMORAl\DUM To: Parking Advisory Board Cify of Billings , I f From: Downtown Billings Partnership,l¿r"1 .4 / Board of Directors RE: Request for 10-Hour Parking Meters Date: August 10' 2009 Attached, please f,rnd the Action Item approved by the Board of Directors of the Downtown Billings Partnership, Inc. at their July meeting (July 23,29pq1 This action item requests that the two-hour meters on North Broadway between 4t" Ave. North and 6th Avenue North be converted to 1Q-hour meters. This request is part of the parking plan approved by the DBP that could facilitate the sale of additional land to Stockman Bank in order to entice them to build at least a two-stoïy building on their 4'h and Broadway site. Fufther, we think it is a first step in the plan to eventually build a parking structure in the CBD. If possible, could you bring this to your board for consideration at your September måeting? In addition, if you need anything fronr iny office to assist you with this matter, please do not hesitate to ask. Thank you. 2815 2nd Ave. Billings, MT 59101 . (406) 259-5454 'www.downtownbillings.com ---PAGE BREAK--- AGENDAITEM: 3-A Downtown Billings BOARD Action ltem July 2009 TITLE: Relocation/Expansion of 10-hour meters onto N. Broadway COMMITTEE: Staff PRESENTED BY: Staff PROBLEM/ISSUE STATEMENT: Parking expansion to enable private development is a high priority goal of the Expanded N. 27'r' Street TIFD. According to the recently completed parking study, Block 40 (the area between N. 28th and N. 29th and 4th Ave. N. and 6'n Ave. N. has a 5 year SURPLUS of parking (177 spaces) while the three blocks south, southwest and southeast of that area (blocks 54, 41, and 38) have a combined 5 year DEFICIT of -844 spaces. Further, Stockman bank owns, and intends to develop about 21,000 sq. ft. of property on the northwest corner of 4th Ave. North and N. Broadway. The Library owns a 7000 sq. ft. lot just north of Stockman's property that currently has 28 spaces that are managed by the Parking Division with 10 hour metered parking. There are several 10 hour meters on the north side of 4th Ave. North, in this area but most of the remaining on-street parking is two-hour metered parking. DBP staff has been monitoring the use of those two-hour spaces on N. Broadway between 4th Ave. North and 6'n Ave. North for a period of 4 weeks. On average, there are about 7 cars parked on-street in this two block stretch at any given time M-F - I am to 5 pm. Also, on average, 24 of the 28 ten-hour metered spaces in the Library owned lot are occupied during the same time frame. Finally, on average there are about 11 vacant two-hour metered spaces in the other Library owned lots during the same time frame. This would indicate that the on-street 2-hour spaces are indeed "surplus" and could be converted to 10-hour metered spaces with little or no impact to the adjacent businesses, including the Library, as those customers could make use of the Library two-hour lots (See final page of Memorandum). And, if the Library 1O-hour lot could be sold to a private developer - (possibly Stockman), it could enable an as much as $5 Million in incremental private development in the area. FINANCIAL IMPACT: Right now, the 1O-hour metered lot owned by the Library generates no revenue for the Library and between $2880.00* and $7200.00** per year in revenue for the parking division. lf the Library were to sell the 7000 sq. ft. lot to a private developer at $35.00 psf. (based on recent sale to GSA of parking lots) the Library could receive $245,000 in cash. Further, even if the lot remains a parking lot, it would generate NEW INCREMENT taxable value of about $62,000 in Taxable Value with annuai increment revenue potential of almost $4000.00. That's close to the average income ---PAGE BREAK--- MEMORANDUM TO: From: Date: RE: City of Billings Parking Division c/o Parking Advisory Board Board of Directors of the Downtown Billings Partnership,Inc. Jaly 24,2009 Conversion of 35 two-hour parking meters located on the 400 - 500 Block of North Broadwav to ten-hour meters. On July 24,2009, the Board of Directors of the Downtown Billings Partnership, Inc., voted to submit a request to the City of Billings, Parking Division, that would create 35 additional lO-hour parking metered spaces in an area that currently, according to the recent parking study, has a surplus ofover 170 spaces. There are currently 35 two-hour metered spaces (2 are green meters) on N. Broadway 2S*) between 4'n and 6'n Avenues North (see map on next page). Those spaces are under-utilized and should be converted to lO-hour employee permit/meter spaces, at least, until additional private development occurs in that area. Over a 4-week period, the DBP staff has observed, at various times of the day (M-F 8 to 5) an average of 7 cars are making use of the 35 two hour spaces and the 2 ten-minute spaces. The maximum observed at any point was 12 cars. ---PAGE BREAK--- At the same time, we observed the usage of the two-hour metered parking in the library lots and noted that the vacaîcy rate in the lots about doubled the number of cars parked on the street with an vacant spaces in the lot vs. 28 vacantspaces on the street. Also, at the same time, we observed that the library lot adjacent to the Stockman Bank property was almost alwavs full. That lot contains 28 ten-hour metered spaces. The Downtown Alliance sells over 100 ten-hour parking permits and could easily sell double that amount if spaces were available and the product was promoted. Left, please see the 5-year deficiency (daytime) projections for this area based upon the recently completed parking study. It shows a surplus of more than 300 spaces in the request area as well as a deficiency of over 800 spaces in the adjacent blocks south of 4* Ave. North þtock 54 with a -443 count is not shown in the illustration). Observations indicate that the lO-hour meters north of 6u Ave. N. are not utilized: and the lO-hour meters south of 6th are. Financially for the City of Billings, it makes sense to add ten- hour spaces in areas of low utilization of the existing parking configurations. Further, if the Library were to consider selling their ten-hour meter lot after the two blocks of N. Broadway were converted to ten-hour meters. The private development potential in the area could reach $5 Million in new development. ---PAGE BREAK--- PARK¡NG OBSERVATIONS 4OO.5OO BLOCK N. BROADWAY 2 - Hour Meters North 2 - Hour Meters Soulh Green Meter Averages STREET SPACES lN USE on street 10 Min lN USE on streel LOT usage 2 hour '10 hour lot 1 0 Hour used 10 - Hour Time of 2 - Hour 2 - Hour Meters South 1 lN USE on street lN USÊ on street LOT usage 2 2 hour hour lot soaces Hour used 10 - Hour Time of 2 - Hour Meters North 1/2 2 - Hour Meters South Green Meter Averages lN USE on street l0 Min lN USE on street 12 Hour LOT usage 2 hour Hour used 1 0 - H o u r Time of 2 - Hour Meters 2 - Hour Meters South Green Meter Averages lN USE on street 1 0 lN USE on stfeet LOT usage l2 Hour 2 Surplus 2 hour 10 Hour used 10 - Hour Highest 2 hour total usage on street.Dayl 12 I ôt l2-hour lN USE on street H¡ghest 2 hoUTVACANCY in Lot-Dayl -1S I 0.f25 llo-min. lN USE on street