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(1) Receive a Presentation on Proposed On-Street Parking Meter Rates; and 2) Provide Comments and Direction to Staff.
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Meeting Date: January 10, 2024
Contact Person/Dept.: Andrew Maximous/Public Works
Phone Number: (310) 253-5628
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Attachments: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas -Finance Advisory Committee (01/04/2024)
Department Approval: Lisa Soghor, Chief Financial Officer (01/04/2024)
RECOMMENDATION
Staff recommends the Finance Advisory Committee receive a presentation on proposed changes to the City's on-street parking meter rates; and 2) provide comments and direction to staff.
BACKGROUND
Parking in Culver City is a limited resource that is in high demand. The Public Works Department operates approximately 1,990 on-street parking meters within the City that generate an average of $82,000 in revenue per month.
On-street parking meters allow cities to manage on-street parking demand to promote efficient turnover and increase availability for the public to utilize or visit the adjacent land uses. The main tools to effectively manage on-street parking supply are parking rates, duration of stay, and time of operation. Of these, parking rates play a key role in traveler mode choice.
The City's current rates were adopted in 2013 and revised in 2016. The rates range from $0.25 to $1.50 per hour based on their location within the City. Staff has analyzed the current on-street parking rates at various neighboring cities and is proposing that the City consider adjusting the parking meter rates to align with other cities in the region, reduce unnecessary on-street circulation and congestion, increase parking availability, and allow the City to more efficiently manage on-street parking demand
DISCUSSION
The Public Works Department operates approximately 1,990 on-street parking meters throughout the City. The City has est...
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