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Establish the parking program as a separate enterprise fund and combine all parking related revenue <br />streams into this fund. Develop a parking program financial plan. <br />One of the big advantages that the City has the opportunity to leverage is the nearly "blank <br />slate" that currently exists related to a parking program organizational and financial structuring. <br />By aligning all related parking revenue streams into one parking enterprise fund, the City has the <br />potential to achieve one of the most important goals of any parking program — the ability to <br />create, over time, a truly self-supporting enterprise that can cover all its own operating and <br />maintenance funding, the creation of parking maintenance reserves and ultimately the funding <br />of future parking facility capital development projects. <br />Parking revenues from the following sources should contribute to the parking enterprise fund: <br />o Off-street parking revenues <br />o On -street parking revenues <br />o Parking enforcement revenues <br />o Special event parking revenues <br />o Parking management fees for management of private facilities (if applicable) <br />o Future parking fee -in -lieu revenues (if applicable) <br />o Future parking assessment district revenues (if applicable) <br />Policies should be developed to define the appropriate use of parking revenues. Generally <br />speaking, the following priorities are recommended related to the approved use of parking <br />revenues: <br />o Operations and maintenance <br />o New technology acquisition <br />o Parking facility maintenance reserves <br />o TDM and mobility management support initiatives <br />o New facility capital investments <br />1111111, Development of a program "financial plan" is recommended. See provided template. <br />E! a ra.II:.....IL .eF.ll..2.1'::)...'ii..l��.!LIL'ii.:t!'. <br />m New Parking Manager and City Economic Development Administrator <br />IIS" g..E g rt in e urs � <br />City Finance and Legal Departments <br />nIIIi7ili(11111raiiTila <br />1111111, Establishment of the financial structure of the department should be an early priority. <br />�u.�ppgte Qocaq.meunts�...oll....11 uuMde&... <br />j le <br />To be added <br />