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A Parking Structure for MSU? Issues and Discussion October 2012
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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
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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
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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 40-60 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 40-60 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
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Parking Structure Financials Basic cost: $18,000/space or approximately $8.1 million for 450 spaces 20-30 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 20-30 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?)
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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
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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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Input/Endorsement/Rejection For input or to endorse or reject the idea of a parking structure, please email us at: ptac@montana.edu or rputzke@montana.edu or kurt.blunck@montana.edu For input or to endorse or reject the idea of a parking structure, please email us at: ptac@montana.edu or rputzke@montana.edu or kurt.blunck@montana.edu
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QUESTIONS?
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