Presenter
Presented by Mr. Udin
Title
Resolution authorizing and directing the Mayor and the Director of the Pittsburgh Parking Authority are authorized and directed to initiate a study to analyze the institution of a free annual holiday parking program and the feasibility of creating a year round free parking program including but not limited to weekends and evenings to attract shoppers.
rogram including but not limited to weekends and evenings to attract shoppers.
Body
Whereas, Council understands the need for the Parking Authority to replace revenue that it foregoes due to the Free Holiday Parking Program; and,
Whereas, for Council to better understand the amount of revenue lost the Parking Authority shall undergo an annual study to determine direct and indirect revenue loss caused by participation in the Free Holiday Parking Program; and,
Whereas, it is City Council's intention to institutionalize an annual Free Holiday Parking Program and perhaps demonstrate the need for free parking year round to advance the economic progress of our region.
Be it resolved that the Council of the City of Pittsburgh hereby enacts as follows:
Section 1. That the Mayor and the Director of the Pittsburgh Parking Authority are authorized and directed to initiate a study to analyze the institution of a free annual holiday parking program and the feasibility of creating a year round free parking program including but not limited to weekends and evenings to attract shoppers.
Section 2. In a manner consistent with the mission and purpose of the Parking Authority to conduct research of the parking problem and to administer an efficient coordinated system of parking regulation including setting rates for their facilities be it hereby established that a study shall be authorized to determine the economic effect of extending the Free Holiday Parking Program annually encompassing.
1. Lost revenue to the city due to potential decreased revenue from City 31% parking tax
2. Quantifiable economic benefits to local businesses
3. Impact of lost revenue to PPAP
4. Decrease in expense
5. Increase in other revenue from parking
Section 3. Since the PPAP is funded entirely through its own operations and currently receives no appropriation from the City of Pittsburgh or from any other public source; an additional requested scope of study, to ideally be incorporated into PPAP's current strategic planning process will include:
(1) Report, which breaks down revenue income sources by four time periods: (a) weekday (b) weekday evenings (c) weekends day (d) weekend evenings
(2) A clear reconciliation of its mission and purpose be determined to work in the best interests of the City of Pittsburgh for PPAP to offer free parking year round each evening and throughout all weekends as a means to achieve significant revitalization to all city and neighborhood business districts, cultural, special and sporting events and this step determined to be the primary stimulus to cultural, commercial and recreational vitality for the city.
(3) An economic analysis of when income is generated from fees and leases which reflects the PPAP's capability to continue to pledge its revenues as security to bondholders sufficient to make the principal and interest payments to bondholders and that clearly, sufficient revenue exists to cover the PPAP's operating expenses.