A Parking Structure for MSU? Issues and Discussion October 2012

Parking Services Business Model  By statute, must be self sustaining  No state funds from Legislature  No tuition dollars  Parking Permit fees cover cost of running program  Fines set to cover enforcement and discourage abuse  By statute, must be self sustaining  No state funds from Legislature  No tuition dollars  Parking Permit fees cover cost of running program  Fines set to cover enforcement and discourage abuse

Parking Structure Background  Campus Master Plan anticipates multiple parking structures around the campus core  Parking structure = more efficient land use  Informal Bozeman Chronicle survey: 75% think MSU needs a parking garage ( May 2012 )  68.5% of MSU Customer Survey Respondents indicate they would pay at least $25 more per permit to support a parking garage  Cost: ~$18,000/space  A parking garage would result in more efficient land use & respond to increasing demand for more close-in, convenience parking  Campus Master Plan anticipates multiple parking structures around the campus core  Parking structure = more efficient land use  Informal Bozeman Chronicle survey: 75% think MSU needs a parking garage ( May 2012 )  68.5% of MSU Customer Survey Respondents indicate they would pay at least $25 more per permit to support a parking garage  Cost: ~$18,000/space  A parking garage would result in more efficient land use & respond to increasing demand for more close-in, convenience parking

Parking Capacity/Convenience  Adequate capacity ~5700 permitted spaces An average of 260 spaces are empty during peak demand (9:30-12:00) (a low of spaces on highest demand days)  Location/convenience Parking primarily lies outside of the pedestrian campus core Close-in lots fill up during peak demand (9:30-12:00) Typically have excess capacity in outer lots Farthest lot from Montana Hall ≤ 10 minute walk  Adequate capacity ~5700 permitted spaces An average of 260 spaces are empty during peak demand (9:30-12:00) (a low of spaces on highest demand days)  Location/convenience Parking primarily lies outside of the pedestrian campus core Close-in lots fill up during peak demand (9:30-12:00) Typically have excess capacity in outer lots Farthest lot from Montana Hall ≤ 10 minute walk

Parking Structure Financials  Basic cost: $18,000/space or approximately $8.1 million for 450 spaces  Year loan at 4% (~$466k-$592k/yr)  How to pay for a garage?  Modest increase for all permits (e.g. S/B increase ≤ $25) – expect to ramp up $8/yr for 3 years  Create Garage-specific permits – short-term (hourly) spaces, reserved spaces, general spaces  Reduce the amount borrowed (down payment from LT R&R acct?)  Basic cost: $18,000/space or approximately $8.1 million for 450 spaces  Year loan at 4% (~$466k-$592k/yr)  How to pay for a garage?  Modest increase for all permits (e.g. S/B increase ≤ $25) – expect to ramp up $8/yr for 3 years  Create Garage-specific permits – short-term (hourly) spaces, reserved spaces, general spaces  Reduce the amount borrowed (down payment from LT R&R acct?)

Parking Garage Evaluation Process  Propose process to President/PEC – Aug, 2012  Present and take input from broad campus constituencies – Fall Semester 2012  Parking/Transportation Advisory Committee (PTAC)  ASMSU/NECO  Faculty Senate  Staff Senate  Professional Council  University Council  Residence Hall Organizations  Campus Sustainability Advisory Council  Open Forum – Campus, Neighborhoods, Businesses  Propose process to President/PEC – Aug, 2012  Present and take input from broad campus constituencies – Fall Semester 2012  Parking/Transportation Advisory Committee (PTAC)  ASMSU/NECO  Faculty Senate  Staff Senate  Professional Council  University Council  Residence Hall Organizations  Campus Sustainability Advisory Council  Open Forum – Campus, Neighborhoods, Businesses

Parking Garage Decision Process  Decision Route  PTAC recommend to UFPB whether to pursue a parking garage  ASMSU endorsement  UFPB – Recommend to President Cruzado whether to pursue a parking garage – Spring, 2013  IF decision = parking garage is needed/desired - Begin to Execute May 2013  Design = 1 yr; Construct = 2 yrs  Complete ~August 2016  Decision Route  PTAC recommend to UFPB whether to pursue a parking garage  ASMSU endorsement  UFPB – Recommend to President Cruzado whether to pursue a parking garage – Spring, 2013  IF decision = parking garage is needed/desired - Begin to Execute May 2013  Design = 1 yr; Construct = 2 yrs  Complete ~August 2016

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