SR-417-010 (3)
Attachment B
BEACH FUND REVENUE AND EXPENDITURE IMPACTS
RATE SCENARIOS FOR 2030 AND 2600 BARNARD WAY PARKING LOTS
Revenue assumptions:
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Average Stay
: Summertime average stay in beach parking lots is 2.1 hours: 40% stay less than 90
minutes, 57% less than 2 hours, 80% less than 3 hours
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Turnover:
90-minute meters turn over 5 times per day, 2-hour meters turn over 4 times per day,
3-hour meters turn over 3.5 times per day.
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Meter charge
: $1 per hour.
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Rate sensitivity:
For each $1 drop in the cost of parking, there is a 10% increase in utilization, up to
an increase of 50%, bringing in between 6,000 and 57,000 new vehicles annually.
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Base Year Revenue:
Beach lot utilization and resulting parking revenue from November 1997 to
October 1998, amounting to total revenue of $3,757,000.
NOTE
: Resulting General Fund impact due to loss in City?s 10% parking tax revenues is an additional
$5,700 to $46,500 annually, corresponding to cells below.
Revenue Impacts: percentage loss and estimated $ loss for 1997/98 revenue year
(apply "% " to any revenue year to determine projected loss)
$7 flat rate 90-min meters 2-hr meters 3-hr meters
68 meters (1.5%) (2.2%)(2.5%)
<$ 57,000> <$ 83,000> <$ 94,000>
152 meters (2.6%) (3.9%)(4.4%)
<$101,000> <$147,000> <$165,000>
360 meters (5.6%) (8.1%)(9.2%)
<$209,000> <$306,000> <$345,000>
$5 flat rate 90-min meters 2-hr meters 3-hr meters
68 meters (4.7%)(5.2%) (5.2%)
<$176,000> <$194,000> <$196,000>
152 meters (5.6%)(6.5%) (6.7%)
<$211,000> <$244,000> <$251,000>
360 meters (7.9%)(9.7%)(10.2%)
<$295,000> <$366,000> <$385,000>
$3 flat rate 90-min meters 2-hr meters 3-hr meters
68 meters (9.4%) (9.7%) (9.6%)
<$355,000> <$363,000> <$359,000>
152 meters (10.0%) (10.4%) (10.3%)
<$376,000> <$390,000> <$390,000>
360 meters (11.3%) (12.2%) (12.4%)
<$425,000> <$457,000> <$465,000>
Service impacts:
REVENUE LOSS BEACH SERVICE REDUCTIONS
$300,000 Beach Cleaning and Graffiti Removal:
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Current: 7 days/week summer, 5 days/week winter
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Reduced to every other day year-round
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Services: trash collection, sand raking and sanitizing, graffiti removal,
Cleaning of Public Areas:
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Cut frequency of cleaning in half
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Restrooms, OceanFront Walk, other walkways, handicapped ramps,
South Beach improvements
ABOVE REDUCTIONS, PLUS:
$500,000
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Reduce Pier/Beach Shuttle service from 34 hours/week to 22
hours/week
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Reduce Harbor Patrol services by 50%
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Reduce Beach Patrol services (beach and parking lots) by 25%
F:\PLAN\ADMIN\MISCPROJ\PARKING\BEACHFUNDIMPACTS5.DOC