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File #: 20-228    Version: 1
Type: Resolution Status: Agenda Ready
File created: 6/5/2020 In control: City Council
On agenda: 6/22/2020 Final action: 6/22/2020
Title: Adopting the Downtown Parking District FY 2020-21 budget and setting the parking tax Ward(s): 1 Councilor(s): Kaser Neighborhood(s): CANDO Result Area(s): Good Governance
Attachments: 1. Resolution No. 2020-29, 2. Exhibit A
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Director 

                                          

SUBJECT:

title

 

Adopting the Downtown Parking District FY 2020-21 budget and setting the parking tax

 

Ward(s): 1

Councilor(s): Kaser

Neighborhood(s):  CANDO

Result Area(s): Good Governance

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ISSUE:

 

Shall City Council adopt Resolution No. 2020-29 adopting the FY 2020-21 budget and setting the business-paid parking tax for the Downtown Parking District?

 

 

RECOMMENDATION:

recommendation

 

Adopt Resolution No. 2020-29 (Attachment 1) adopting the FY 2020-21 budget and setting the business-paid parking tax for the Downtown Parking District. 

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SUMMARY:

 

The Budget Committee recommended a FY 2020-21 operating budget for the Downtown Parking Fund of $1,135,190, which includes rates of $159.28 per space and a $442.16 minimum tax rate. The proposed operating budget is shown in Exhibit A of Resolution No. 2020-29 (Attachment 2).

 

Salem Revised Code 7.110 requires City Council to adopt, by resolution, a budget for the Downtown Parking District (District) and set the tax for each fiscal year. The District was established in 1976 to provide funding for economic promotion and public parking within the downtown core.

 

 

FACTS AND FINDINGS:

 

For FY 2020-21, annual parking tax rates proposed:

 

Current Rate Minimum Tax: $433.49

Proposed Rate Minimum Tax: $442.16

 

Current Per Space Rate: $156.16

Proposed Per Space Rate: $159.28

 

Based on the current list of downtown businesses, the current total parking demand is 3,680 spaces.

 

BACKGROUND:

 

In October 2013, Council adopted Initiative Petition 001-2013-IP, capping annual increases to the downtown parking rate at the lesser of 2% or the general consumer price index (CPI) for Portland, Oregon. Portland’s CPI for the last twelve months has been 2.8%. The maximum amount parking tax rates can increase is 2.0%.

 

 

                     Renee K Frazier 

                     Financial Services Manager

 

Attachments:

1.                     1. Resolution 2020-29

2.                     Exhibit A