TITLE
Recommendation to receive supporting documentation into the record, conclude the public hearing, and adopt resolution in accordance with Section 10.28.130 of the Long Beach Municipal Code to set operating days and hours for Parking Meter Zone 34 to Monday through Saturday, excluding holidays as defined in the Long Beach Municipal Code, during the hours of 10:00 a.m. to 9:00 p.m., for a maximum of two hours and at a rate of $1.00 per hour;
Request City Attorney to prepare an ordinance amending Section 10.28.130 of the Long Beach Municipal Code, to establish Parking Meter Zone 34 along 4th Street between Hermosa Avenue and Temple Avenue, including side streets intersecting 4th Street; and
Request City Attorney to prepare an Agreement with the Fourth Street Business Improvement Association to equally share the net parking meter revenues generated from parking meters located in Parking Meter Zone 34. (District 2)
DISCUSSION
City Council approval is requested to establish Parking Meter Zone 34 along 4th Street between Hermosa Avenue and Temple Avenue, including side streets intersecting 4th Street (Attachment A), and adopt a Resolution to set operating days and hours for Parking Meter Zone 34 to Monday through Saturday, excluding holidays as defined in the Long Beach Municipal Code (LBMC), during the hours of 10:00 am to 9:00 pm, for a maximum of two hours, at a rate of $1.00 per hour. Installation of parking meters in the commercial area of 4th Street will promote parking turnover for customers and create revenue from the additional 197 metered parking stalls that can be re-invested in the City. To facilitate the installation of parking meters at these new spaces, creation of Parking Meter Zone 34, as defined in Section 10.28.130 of the LBMC, is required.
The Fourth Street Business Improvement District (BID) supports the establishment of Parking Meter Zone 34 and the installation of parking meters. Following the recovery of meter collection and maintenance costs, 50 percent of the parking meter net revenue will go to the BID, the remaining 50 percent will go to the City’s General Fund. The BID’s portion shall be spent as follows:
• 50 percent to be used for infrastructure improvements within BID area; and,
• 50 percent to be used for marketing efforts that promote the BID businesses.
The BID shall account for the receipt and expenditure of parking meter monies in its annual report to the City. The BID may carryover unspent parking meter funds from one year to the next, provided funds are accurately accounted for in the BID’s annual report to the City. The BID will use none of the funds it receives for any purpose not enumerated herein including, but not limited to, any expense (including administration and overhead) in support of political activities.
The public hearing amends the Master Fee and Charges Schedule, to include the proposed parking meter rates, at the standard rate of $1.00 per hour from 10:00 a.m. to 9:00 p.m., excluding Sundays and holidays, and will take effect immediately after City Council adoption.
This matter was reviewed by Deputy City Attorney Amy R. Webber on October 24, 2018 and by Budget Management Officer Julissa José-Murray on October 19, 2018.
TIMING CONSIDERATIONS
City Council action is requested on November 13, 2018, to allow for the immediate creation and implementation of the new metered parking spaces, which in turn will allow for revenue sharing between the City and the BID.
FISCAL IMPACT
The estimated one-time cost to furnish and install 197 parking meters is approximately $197,000. There is sufficient appropriation in the General Fund (GF) in the Public Works Department (PW) for the installation costs. The annual operating and maintenance costs associated with warranties, credit card transaction fees, and processing fees are approximately $88,000. This cost is projected to be offset by anticipated revenue from these meters. If additional appropriation is necessary, staff will request City Council approval for the adjustment.
Once installed and fully operational, the estimated annual revenue resulting from these meters will be approximately $342,780. The net collections will be evenly divided between the City and the BID. The BID will repay the City $65,667 annually from their portion of net revenue for three years for a total repayment amount of $197,000, covering the City’s estimated cost for the installation of the parking meters. There is no local job impact associated with this recommendation.
SUGGESTED ACTION
Approve recommendation.
BODY
[Enter Body Here]
Respectfully Submitted,
CRAIG A. BECK,
DIRECTOR OF PUBLIC WORKS
APPROVED:
PATRICK H. WEST
CITY MANAGER