2015 Walker Feasibility Study for Garage
INCREASING REVENUE Given that the new demand stream is not anticipated to cover debt service for the garage, the parking system will need to increase revenue on existing spaces if it is to be self-supporting.
There will be a natural uptick in revenue as Parkmobile becomes more utilized. Apps of this sort increase compliance and also disallow “piggybacking” onto a previous parker’s leftover meter time. We have increased revenue in 2015 and 2016 to account for Parkmobile’s impact. While a 15 percent increase is common, we are projecting a five percent increase. Extending meter hours and enforcement until 9 pm is the first recommended step. Since daytime retail and restaurant customers pay to park, it is fair to ask evening restaurant customers to pay as well. In addition, metering the streets in the evening can provide parking management solutions to crowding in the future, should the Village wish to reduce employee parking along streets that should be available to customers.
Evening rates alone will not cover the projected debt service; it will be necessary to increase rates as well. In order to achieve a debt service coverage ratio of 1.5, our projections assume the following:
Clearly a financial disaster of extreme proportions waiting to happen.
There is it folks in black & white – THE GARAGE CAN’T PAY FOR ITSELF AND IN ORDER FOR PARKING REVENUES TO COVER COSTS, THEY NEED TO BE JACKED UP SKY HIGH – AND EVEN THEN THERE IS NO GUARANTEE THAT TAXES WON’T GO UP.
THE VILLAGE HAS NEVER BROUGHT A MAJOR PROJECT IN ON BUDGET
Today is election day VOTE NO on the garage.
8:03 right on point. This idea is a disaster at every level. I can’t believe they’ve entertained this idea so long. Complete waste of time and taxpayers money. How much has been spent on Desman designs, meetings, lawn signs etc.? It’s cost us just to think about it. Imagine how it will bleed us dry if it starts to take life.
Sadly… this will pass with big margins today.
1. most people aren’t educated on the facts
2.,they see all of the “vote yes signs
3. few people will vote (but the proponents will come out in force)
4. some will recall the time they went to dinner on a Saturday night and had to drive around the block to find a spot and figure “a parking garage would help…right?”
5. some will even feel like they should “split the difference” – vote yes on garage and no on housing – so as to be perceived as “reasonable” and not as “one of those crazy negative people who never want any change” – facts be damned.
Typical Politician spin. They say the garage will be paid for by parking revenues. Well, not EXISTING parking revenues…NEW parking revenues that will be created by raising both rates and times of enforcement.
Please vote NO! Its already disgusting that they jacked up the resident commuter parking to $750/year, way more than double the next highest annual amount paid by other locals towns, they want to increase meters to remain in effect until 9pm???!!!!!! Unheard of anywhere else I have ever visited – Even so, these proposed “minor” increases will in no way cover the cost – Why does it cost $16 million dollars – $16 million! – to build a parking garage – I am so disgusted with my own town!
Was housing on the ballot?
My wife and I voted now.
We also had the smarts for bullet for Keith K a few years…if more of you did that we wouldn’t be in this position.
My wife and I voted now.
We also had the smarts to bullet vote for Keith K a few years…if more of you did that we wouldn’t be in this position.
Certain Clinton Avenue residents are supporting the referendum on the two Facebook forums. Scratch the surface of any supporter of the terrible threesome, and you will find a reason why. Clinto. Avenue got to keep their big front yards, now it is payback time. No scruples.
vote no
Who, The Fuhrman’s? I know many on Clinton who do not favor this
11:18: no, not this time–don’t worry–you didn’t miss that line on the ballot. Previous poster was probably imagining how people might be thinking: “I’ll vote yes on this now and reject the other issue so that I can continue to think of myself a moderate who accepts change.” High-density housing, although our hugest issue, is unlikely to go to referendum at all.
I voted no. But just like school budgets the vote doesn’t count
Lets do away with cars and ride bikes or walk.
Until that happens, get real. more parking is needed.
8:49 – I’ve been here 27 years and I’ve never had a problem parking.
No results yet?
Word is that the YES vote won overwhelmingly. Not official yet, but a good source said so.
ugh, really? that is unfortunate
online The Record Newspaper Live Results 2015 Elections, click on map Ridgewood, shows parking garage..
Yes 3236
No 1777
8:49 – yup, 24 years for me…never had a problem…..we are a stupid bunch.
We may as well give Valley what they want too…
So now all you have to hope for is that the landlords lower the rents, less people use the Internet, the economy starts booming again so that all those people in the restuarants will shop in those stores that don’t sell food, and those that frequent the malls will shop in Ridgewood instead, and your all set. Really ?
I will not pay a dollar to run into Rite Aid, Dunkin Donuts, UPS etc. Will go elsewhere so it is going to take a really unique and special offering for me to shop in town. Also, the Walker report recommends more enforcement of street parking AND not allowing roll over time on meters through new technology.
So you can’t get 4, 6 or 8 hours by feeding the meters on the streets but will have to move your car from spot to spot. That will hurt those who work in the CBD.