Parking Asset Management Plan. January 4, 2012

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Jane Nicholson
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1 Parking Asset Management Plan January 4, 2012

2 Market Assessment Current parking inventory Downtown parking inventory = 47,500 spaces Public parking inventory = 19,500 spaces City controls 4,200 spaces 9% of total inventory 22% of public parking inventory Monthly parking - average rate $66.00/month Transient parking - average rate $2.30/hour

4 Market Assessment* Office million SF Retail/Entertainment million SF Industrial million SF Casino - 425,000 SF Hotel rooms - 15,500 Residential - 5,000 units World Market Center 6 million SF Supported by over 47,500 parking spaces *Figures supplied on this slide are approximate

5 Market Assessment How far does 47,500 parking spaces go? We are oversupplied by 38%; this is why parking rates are low Parking management strategy must concentrate on ease of use Payment technology Locating spaces Rates, enforcement hours that correspond with demand Event, night, weekend parking Office Retail Residential Industrial Hotel Gaming Total Average Demand 3/1,000 SF 6/1,000 SF 1.2/unit 0.10% 20% 6/1,000 SF Daytime 13,200 9,000 1,800 1, ,040 28,170 Nights/Weekends 0 18,000 6, ,100 2,550 29,650

6 Parking System Goals Excellent customer service Ease of use Easily accessible parking Where is it? How do I get there? What will it cost? How do I pay? Improved financial performance Remove burden from the general fund

7 Parking System Goals Support existing businesses Customer, employee & resident parking options tailored for each group s needs Policies that support business needs Support new development How much parking is needed New construction vs shared parking Create flexibility Changing demographics New businesses demands Special events

8 Parking Services Division Establish Parking Office Central base of operations Location is TBD One stop shop One phone number One department to deal with Consolidated management of assets

9 Parking Services Division

10 Parking Services Division Staffing Transfer all enterprise-funded employees to EUD/Parking Enforcement (16) Finance (4) Streets & Sanitation (1) Fill vacancies: 2 customer service 1 full time Parking Enforcement Officer (PEO) 2 full time PEO vacancies with 4 part time PEOs

11 Phase 1: Complete July 2012 Establish customer service attitude Strong, consistent leadership Weekly staff meetings Complaint responsiveness Establish public information channels New location, phone and services Social media Improve maps online Downtown PR campaign, local businesses Flyers carried by PEOs, in public areas of City Hall Media release

12 Phase 1: Complete July 2012 Assimilate parking functions Permit, access card, validation, meter bag issuance Citation payments, collections and appeals Data entry for handwritten citations Enforcement Facility maintenance and operations Contracts Review and revise processes Appeals and hearings Permit and validation issuance Contract management Accounting and revenue controls Enforcement Towing & booting

13 Phase 2: Complete Dec Upgrade Meter Technology Issue RFP for credit-card capable meters city-wide Purchase and install new system Manage implementation Purchase new citation handhelds and software Special-event capable Integrated permits Real time uploads Graduated fines

14 Phase 2: Complete Dec Special Event & Night/Weekend Parking Develop plan to manage city assets Create consensus/share information with private assets Develop wayfinding systems electronic and signage based On-Street Rates and Enforcement Hours Review all rates and hours relative to: Proximity of street-level business Proximity of off-street parking Need for long term parking Actual occupancy Establish on-street permits, rates and zones

15 Phase 3: Complete Jan Review and revise fines Assess fine structure relative to: Existing rates Safety hazards Influence on behavior Implement graduated fine structure Real-time Occupancy Push relative occupancy levels on-street and offstreet to public via cell phone, PDA, GPS, internet Advance Reservations Facilitate parking space reservations in advance

16 City of Las Vegas Parking System Summary of Revenues and Expenses FY11 FY12 FY13 FY14 FY15 Transient Parking - Cash $ 1,300,977 $ 1,282,810 $ 1,785,657 $ 1,996,283 $ 2,232,227 Transient Parking - Event $ - $ - $ 5,000 $ 7,500 $ 10,000 Transient Parking - Validations $ - $ - $ 12,000 $ 12,000 $ 12,000 Monthly Parking $ 585,000 $ 594,240 $ 730,120 $ 740,120 $ 745,120 Citation Collections $ 3,928,308 $ 3,965,000 $ 3,500,000 $ 3,000,000 $ 3,000,000 Interest Income $ 180,120 $ 210,298 $ 200,000 $ 200,000 $ 200,000 Lease Income $ 523,582 $ 510,000 $ 416,500 $ 812,500 $ 812,500 Expense Reimbursements $ 66,547 $ (1,000) $ 99,000 $ 34,000 $ 34,000 Total Revenues $ 6,584,534 $ 6,561,348 $ 6,748,277 $ 6,802,403 $ 7,045,847 Expenses City Payroll $ 1,224,284 $ 1,483,680 $ 1,483,680 $ 1,557,864 $ 1,635,757 City Benefits & Payroll Taxes $ 734,571 $ 902,390 $ 902,390 $ 947,510 $ 994,885 Contract Parking Labor $ 145,000 $ 147,725 $ 160,000 $ 160,000 $ 160,000 Contract Security Labor $ 42,275 $ 42,275 $ 42,275 $ 42,275 $ 42,275 Contract Maintenance $ 500,000 $ 504,195 $ 531,905 $ 535,412 $ 539,025 Supplies $ 109,357 $ 129,633 $ 132,847 $ 134,694 $ 136,594 Utilities $ 335,199 $ 335,245 $ 246,345 $ 251,245 $ 256,293 Insurance $ 21,026 $ 19,396 $ 19,978 $ 20,577 $ 21,195 Travel & Training $ 10,000 $ 11,000 $ 10,000 $ 10,000 $ 10,000 Lease Payments $ 276,544 $ 276,544 $ 44,704 $ 44,704 $ 44,704 Interdepartmental C/B $ 519,648 $ 318,788 $ 203,100 $ 207,203 $ 211,428 Capital $ - $ 1,095,291 $ 2,773,600 $ 1,023,600 $ 73,600 Total Expenses $ 3,917,904 $ 5,266,162 $ 6,550,823 $ 4,935,084 $ 4,125,755 Operating Margin $ 2,666,630 $ 1,295,186 $ 197,454 $ 1,867,319 $ 2,920,093

17 Debt Service City of Las Vegas Parking System FY11 FY12 FY13 FY14 FY15 Total Revenues $ 6,584,534 $ 6,561,348 $ 6,748,277 $ 6,802,403 $ 7,045,847 Total Expenses $ 3,917,904 $ 5,266,162 $ 6,550,823 $ 4,935,084 $ 4,125,755 Operating Margin $ 2,666,630 $ 1,295,186 $ 197,454 $ 1,867,319 $ 2,920,093 Debt $ 2,494,140 $ 8,594,612 $ 3,343,850 $ 3,477,000 $ 3,630,500 Interest $ 1,677,935 $ 1,194,350 $ 1,098,756 $ 968,589 $ 824,889 Total Financing $ 4,172,075 $ 9,788,962 $ 4,442,606 $ 4,445,589 $ 4,455,389 Margin After Debt Service $ (1,505,445) $ (8,493,776) $ (4,245,152) $ (2,578,270) $ (1,535,296)

18 Capital Plan City of Las Vegas Parking System 3 Year Capital Plan Project FY12 FY13 FY14 $ 7,600,000 Parking Office $ 300,000 $ 300,000 Neonopolis PARCS $ 350,000 $ 350,000 Neonopolis Lighting $ 100,000 $ 100,000 Parking Meters $ 2,500,000 $ 2,500,000 Citation Equipment $ 275,000 $ 275,000 Wayfinding System $ 750,000 $ 750,000 City Centre PARCS $ 200,000 $ 200,000 Fleet ALPR $ 200,000 $ 200,000 Total Capital $ 1,025,000 $ 2,700,000 $ 950,000 $ 4,675,000 Remaining Cash $ 2,925,000

19 Council Action Requested Today Endorse the Parking Asset Management Plan Future Council Approvals Approve supporting municipal code changes Transfer authority to EUD in municipal code Enforcement and towing (dual authority with D&E) Issuance of and payment for permits and other credentials Allow Traffic Engineer to delegate parking authority Approve capital expenditure plan (contracts in FY12 and FY13 budget)

20 Questions?

FY 2011 and FY 2012 Operating Budget APRIL 6, 2010 SAN FRANCISCO, CALIFORNIA

FY 2011 and FY 2012 Operating Budget APRIL 6, 2010 SAN FRANCISCO, CALIFORNIA Overview Original approved FY 2010 budget (April 2008) = $816.7M FY 2010 Approved Budget (April 2009) = $768.6M ($129M deficit