October 9,2015
Boyd A. Loving
Ridgewod Nj, This pretty much sums up the issue. Taken verbatim from a report commissioned by the Village Council:
“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:
• Evening rates will go into effect in 2016.
• On-street meter rates will be increased to 75¢ along key streets (blocks 3, 4, 5, 6, 9, 10, and 11) in 2016.
• Core area rates will be increased to $1 in 2017, with the rest of the on-street parking and all off-street parking going to 75¢. This is projected to be the opening year for the garage.
• After five years (in 2022), $1 parking should increase to $1.25 and 75¢ parking should increase to $1 if necessary.
• We assume some reduction in parking demand with each increase as people look for free alternatives (farther away on street, or in private lots) or choose to go elsewhere. We use an assumption of 10%.
• We have not projected a shift in demand away from Ridgewood Avenue and other core streets to the cheaper garage or other off-street lots, as we assume the 25¢ differential will not significantly alter people’s preference for convenient spaces.
We further assume that the demand reductions discussed above will cover the limited shift from more expensive to less expensive resources.
“…shift from more expensive to less expensive resources.” Less expensive like parking in other towns or at the malls. However, unlike now where they can change the hours and prices, once they have multimillion dollar parking garage, they will find their hands tied.
These are the same Managers who slashed the meter rates and then hosed the taxpayer commuters demanding a 700 plus parking placard..the gift that keeps on taking..let’s clean house in November village citizens,
Well we can’t vote them out until spring, but we can vote no on the (nonbinding) referendum. I think the village needs more parking, but have to vote no for this plan.
For those of you who believed the “it will pay for itself” line, here’s your proof that it won’t. And should there be a downturn in the economy, as what happened in 2008, we’ll be screwed even more.
As a senior citizen on a limited budget, I can’t and won’t pay that much to run into Town and Country for a battery or a lipstick. This garage will also remove most of the handicapped parking spaces accessible in Ridgewood as they are located in the lot being used for the garage. Does our downtown only plan to serve the rich and the young while the rest of us go elsewhere?
We all must stand united against this insanity which is projected to cost each of us so much money.
What a mess.
I bet our Council wishes they had that $3 million in quarters that walked out of Village Hall under their noses a couple years ago. When will we be able to stop paying for this Council’s ineptitude?