City of Fayetteville
File #: 24-4064    Version: 1 Name:
Type: Other Items of Business Status: Agenda Ready
File created: 5/29/2024 In control: City Council Work Session
On agenda: 6/3/2024 Final action:
Title: Fayetteville Downtown Parking
Attachments: 1. Franklin Street Parking Deck Funding and Development Agreement.pdf, 2. Parking Fund Activity.pdf, 3. Franklin Street Parking Deck 2023 Metrics.pdf, 4. Fayetteville Downtown Parking.pdf
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TO: Mayor and Members of City Council

THRU: Adam Lindsay, Assistant City Manager
Jeff Yates, Assistant City Manager

FROM: Sheila Thomas-Ambat, PE, CCM, CFM, Public Services Director
Brian McGill, PE, PTOE, City Traffic Engineer

DATE: June 3, 2024

RE:
Title
Fayetteville Downtown Parking
end

COUNCIL DISTRICT(S):
Council District(s)
District 2


b
Relationship To Strategic Plan:
Goal II: Be a responsive city government supporting a diverse and viable economy.
Goal IV: Be a highly desirable place to live, work, and recreate.
Goal VI: Have a collaborative citizen and business engagement base.

Executive Summary:
Council has requested staff review information surrounding the City's parking program related to operations between the hours of 5:00 PM and 7:00 PM. Using values from the 2023 calendar year, approximately 19% of daily parking transactions occurred between 5:00 PM and 7:00 PM, amounting to a total of $30,438.55 in payments based on information provided by the parking enforcement consultant. For just the Fiscal Year 2023 period, the total functional revenue was enough to fund the contract services for parking operations, but not debt services. Budget and finance numbers from previous fiscal years indicate that the parking program operates in a deficit and requires subsidization from the general fund for debt servicing. This is more readily apparent in the attached documentation of this administrative report. Finally, the Franklin Street Parking Deck observed 9,091 parking transactions in the 2023 calendar year and collected $22,166.00 in parking fees. A more detailed breakout of the 2023 operations of the Franklin Parking Deck is attached to this administrative report.

Background:
It is staff's understanding that Council has expressed interest in the possibility of revising the termination of paid parking from 7:00 PM to 5:00 PM. It is also staff's understanding that Council has requested the finances surrounding the Franklin Str...

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