City increases downtown core parking-space cost to $10,000 per required space; resolution adopted
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Summary
The commission adopted Resolution 25-09 to raise the downtown required-space fee (per section 118-1839(f) of the code) from $5,000 to $10,000 based on updated land- and construction-cost calculations; staff noted a minor calculation error in the exhibit that did not change the final result.
The City Commission on Sept. 11 adopted Resolution 25-09 to increase the downtown core parking fee (the amount charged per required off-street parking space) from $5,000 to $10,000 per required space for new downtown development.
Staff said the fee is calculated under city code as one-third of the typical cost of land and one-third of the cost to construct a typical 10-by-20-foot parking space. The city recalculated land and construction costs and determined that one-third of the total equated to approximately $10,313.14; staff recommended rounding and setting the fee to $10,000. Staff also noted a minor calculation error in the packet exhibit that, after correction, did not change the overall result.
The resolution was presented as a one-time fee increase for required parking spaces tied to new downtown development; it passed on a voice vote.