City explores free parking in DT

[carltonplace]

I'm starting to think Mr Himlefarb has a big ol' brain.

From the Tulsa World: Read Article

Free-parking pilot program eyed
By P.J. LASSEK World Staff Writer
12/22/2006

The plan initially would involve free parking down- town at Tulsa Parking Authority sites after 5 p.m. and on weekends with an ultimate goal of totally free parking.
The Tulsa Parking Authority is considering a one-year pilot program to provide free parking in its facilities after 5 p.m. and on weekends as a first step toward totally free downtown parking

[bacjz00]

"Quite frankly, even though this may become controversial for those who own surface lots," he said, "those folks will have to justify the economics of their real property in some other fashion that hopefully will mean structured activity that will be paying property and sales tax into the city coffer."

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Now we're talking!!!

[PonderInc]

I'm also hoping that if the city-owned parking facilities will eventually be free, this will help motivate the city to incorporate street-level retail on all future parking garages...as a way to ensure they get income from parking structures...even if the cars park for free.

[SXSW]

^ That should be a city-enforced requirement for garages in the downtown area.  I'd like to see that enforced on all new garages not only in downtown but also midtown.  Otherwise that garage is not much better than the surface lot it replaced...

[waterboy]

quote:Originally posted by bacjz00

"Quite frankly, even though this may become controversial for those who own surface lots," he said, "those folks will have to justify the economics of their real property in some other fashion that hopefully will mean structured activity that will be paying property and sales tax into the city coffer."

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That is the key objection. This was proposed, and should have been acted on 20 years or more ago. When a property justifies its existence by $/parking space rather than rent or sales per foot, then it is seldom developed any further. Is there anything more simple than boarding up the windows on a property and leasing out its parking when you can't rent it?

Then it follows that tearing down the building means more parking $. Certainly cheaper than remodeling the building or taking any risk at all. Its value to the bank is its income producing capability. The building is devalued if only its parking is making money, so the owner doesn't spend any capital improving it or changing its potential use. If you can buy one of these dinosaurs and change its use, like the saloons downtown ala Sager, then its a gold rush, other wise its closed up and awaiting the rebirth of downtown.

Economically, now that the demand for parking downtown is closer to the capacity because the city garages, this plan is feasible.

[TheArtist]

Sounds great!

[carltonplace]

Update on this plan

Excerpt:
If the one-year pilot program is approved, parking in the lots would be free from 5 p.m. to 2 a.m. Mondays through Fridays and all day until 2 a.m. on weekends unless a paid event is taking place in a public facility such as the Maxwell Convention Center, the Performing Arts Center or the BOK Center.

The garages are Main Park Plaza at 410 S. Main St.; the 100 West Garage at 100 W. First St.; and Williams North at 11 E. First St. The target date to start the program would be July 1.

The program is expected to cost $78,000 in lost revenue and security fees. Downtown Tulsa Unlimited has agreed to fund the program as long as it is reviewed after six months, DTU President Jim Norton said.

The subcommittee is still working out details. The Parking Authority will hear more about the plan next month.

If it is successful, the pilot program would be the first step toward full-time free parking downtown.

$78,000 in security costs and lost revenue...99.999% of that must be security costs, because I never see cars in these lots after 5.



TW Article