1987-056-Parking Assessment DistrictRESOLUTION NO, 1987 -56
REGARDING PARKING ASSESSMENT DISTRICT
WHEREAS, In an attempt to facilitate the adoption of the Parking
Assessment District, the Council proposed to make the following
modification to the District:
1. In return for the "write down" of the following assessments the Town
would be paid back from the first revenue received by the District if
these costs cannot be covered by contingencies in the assessment
district construction program:
a, the cost of exempting church property utilized for church
purposes (approximately $7,500)
b. changes due to updated information which would result in
decreased assessments defined as "errors and omissions"
(approximately $130,000).
C. the cost of any changes caused by the recalculation of
assessments for properties whose zoning ordinance parking
requirements are based on some other measure (i.e. number of
employees, number of hotel rooms, etc.) or a floor area factor
different from those used for retail or office (i.e. space /470
for auto sales, etc.). (Approximately $75,000).
C. the cost of Division 4 requirements (approximately $7,500).
Division 4 will effect those properties whose assessment exceed
50% of the property's value.
WHEREAS, The $30,000 currently allocated in the parking district for the
construction of lot 15 would be combined with the Town's
Capital Program safety improvements to the Main /Jackson
intersection, with the provision that at least 22 parking
spaces would be created in this area. If the total cost of the
project exceeds $30,000, Council would allocate the additional
expenditure,
WHEREAS, Council will maintain the current composition of the Parking
Commission which includes a resident of the downtown, and a
majority of members who are merchants and /or owners. The
majority of Commissioners will be required to be Town
residents.
WHEREAS, Council will institute a process for an "in -lieu fee" to meet
future parking requirements for those property owners receiving
all other Planning Commission approvals. The "in -lieu fee"
would be equal to the average cost per space of the remaining
spaces in Phase III of the parking improvement plan. The
in -lieu fee could be used for a change of use but not expansion
of area.
The in -lieu fee for parking will only be needed by a small number of properties
in the district. Properties whose assessment is based on the .6 Floor Area
Ratio and have buildings with less the .6 Floor Area Ratio will in effect have
purchased a "reserve" of parking spaces which can be used for building expansion
and /or intensification of use at the owners option subject to Town approval.
The same principle applies to properties with mixed uses. These properties will
have a "bank" of parking space credits which can be reallocated to any space
within the building as long as the total is not exceeded.
WHEREAS, Council will approve meters located in all public lots but not initially
locate meters on the streets, If the revenue generated from the lots and
parking enforcement does not equal the proportionate revenue anticipated
in "Alternative C" of the March 1985 Wilbur Smith report, that Council
approve installation of meters on the public streets. It is important to
note that the revenue anticipated in "Alternative C" was projected on the
construction of more lots„ Therefore the revenue received from Phase I
of the parking program will be proportionately lower. The Parking
Commission is also authorized to work with Staff to develop a plan for
"time-limit" parking on the streets to improve traffic circulation and
turn -over. Following the adoption of the plan, if the turn -over and
traffic circulation on the streets is not that anticipated in the plan,
then the Council will approve meters in the streets.
WHEREAS, Council will institute any new permit parking in a similar manner to that
utilized in the Almond Grove and Broadway neighborhoods.
PASSED AND ADOPTED at a regular meeting of the Town Council of the
Town of Los Gatos, California, held on the 18th day of May 1987
by the following vote.
AYES: COUNCIL MEMBERS Joanne Benjamin, Eric D. Carlson and
Mayor Brent N. Ventura
NOES: COUNCIL MEMBERS None
ABSTAIII: COUNCIL MEMBERS Thomas J. Ferrito and Robert L. Hamilton
ABSENT: COUNCIL MEMBERS None
SIGfdED. MAYOR OF THE' 4N OF LOS GATOS
ATTEST:
CLERK OF T E TOWN OF LOS GATOY