Title
A Resolution authorizing the waiver of ramping and storage fees for centralized valet beginning November 1, 2015, reducing the customer fees for use of centralized valet, from $8.00 to $5.00 through the completion of the Miracle Mile streetscape project.
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The Business Improvement District has operated a centralized valet program on Miracle Mile since June 1, 2006. In recent years, the program has provided parking for nearly 60,000 customers annually. The valet operator maintains five parking ramps on the mile and uses 19 parking spaces to accept and return vehicles. Vehicles are stored in one of two public parking garages on Aragon. The City is paid for the spaces used for ramping and for vehicle storage by the valet operator. Monthly fees paid to the City for centralized valet are approximately $11,000.00.
During streetscape construction there will be significant and ongoing disruptions to parking on Miracle Mile. Making valet more accessible for customers coming to dine or shop on the Mile is one way to help mitigate the disruptions caused by construction. The current rate for valet on Miracle Mile is $8.00. If the City waives its fees, the valet operator has agreed to reduce the cost of valet to $5.00 per vehicle. In addition, the Business Improvement District will provide a program that will allow businesses on blocks where parking is closed to obtain discounted coupons to provide complimentary valet parking to their customers.
As part of Miracle Mile streetscape and the branding of the central business district, a new scope of service for centralized valet is under review. This will include expansion of the service, direct management of the contract by the City, as well as required service standards. The current schedule is to issue a Request for Proposals prior to completion of streetscape construction to select the valet contractor that will provide the expanded centralized valet services.
Providing lower priced valet beginning in November of 2015 will allow visitors to the Mile the Holiday Season to adjust to the subsidized valet service. The goal is to get a larger percentage of the overall traffic to be comfortable using valet to reduce the impact when sections of the on-street parking are closed for construction beginning in January of 2016. The waiver of fees is proposed for the entire period of construction, estimated at eighteen months. The total ramping and storage fees waived during the Miracle Mile streetscape project is estimated at $198,000.00.
On September 11, 2014 the City Commission authorized a $.25 increase in the short-term meter rate. The rate increase is expected to generate approximately $1,685,678.00 annually. Funds from the increased fees are in part, expressly dedicated to absorbing cost associated with expediting the streetscape project construction.