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Home My WebLink About12/06/2022 11. Ordinance to create a Parking Services Fund (first reading) 5l BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 11. For Meeting of: December 6, 2022 ITEM TITLE: Ordinance to create a Parking Services Fund (first reading) SUBMITTED BY: Jennifer Ferrer-Santa Ines, Director of Finance and Budget SUMMARY EXPLANATION: The attached Ordinance authorizes the establishment of a "Parking Services Fund" for the purpose of accounting for parking revenues and from city owned lots, street parking, and monthly parking permits. This new fund will also account for expenditures related to the operations of the parking management system including, but not limited to, parking enforcement, debt service on the parking kiosks and stations, along with capital improvements in the parking zone areas. ITEM BUDGETED: No STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: First reading of Ordinance. ATTACHMENTS: Description Upload Date Type d ( dinance 12/1/2022 Cover Memo D Memo 11/1512022 Omer Memo 2 ORDINANCE NO. 2022- AN ORDINANCE adding Yakima Municipal Code Chapter 3.129 establishing a Parking Services Fund. WHEREAS, the City desires to establish a fund entitled "Parking Services Fund" for the purpose of receiving revenues from on and off-street parking fees and monthly permit parking fees for use of city-owned parking lots; and WHEREAS, the City desires to account for revenues and use those revenues for expenditures specifically related to city-owned parking lots and other on-street parking and downtown public spaces, including improvements, maintenance, operations, debt service and enhancement; and WHEREAS, all funds received from parking revenue shall be placed in this Parking Services Fund and used for the purposes outlined herein; and WHEREAS, the City Council for the City of Yakima finds that it is in the best interests of the city and its residents to create the Parking Services Fund and have parking revenue be used for operation, maintenance, improvement and enhancement of parking facilities and the downtown area; now, therefore, BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. Chapter 3.129: Parking Services Fund, is hereby added to the Yakima Municipal Code to read as follows: Chapter 3.129 PARKING SERVICES FUND Sections: 3.129.010 Creation of Parking Services Fund 3.129.020 Parking Services Fund revenues and expenditures 3.129.030 Central Business District sub-fund 3.129.040 Authority to create additional sub-funds 3.129.010 Creation of Parking Services Fund. There is created a fund for the purpose of segregating transactions relating to parking. This fund shall be knowns as Parking Services Fund 128. 3.129.020 Parking Services Fund revenues and expenditures. The Parking Services Fund shall consist of monies collected from parking fees generally, enforcement of parking ordinances, and monthly permit parking fees for the purpose of establishing, constructing, maintaining, operating, improving, and enhancing the parking facilities and adjacent publicly-owned improvements or facilities in the City of Yakima. 3.129.030 Central Business District sub-fund. There shall be created a sub- fund in the Parking Services Fund that will receive all revenue received from Parking 3 Services Fund revenues from parking within the central business zoning district of the City of Yakima. Revenues from parking within the central business zoning district will be used for the purpose of establishing, constructing, maintaining, operating, improving, and enhancing the parking facilities and adjacent publicly-owned improvements or facilities within the central business district. 3.129.040 Authority to create additional sub-funds. The Finance Director has the authority to establish additional sub-funds under the Parking Services Fund created under section 3.129.010 to ensure that parking revenue is utilized for relevant parking and public expenditures. Section 2. This Ordinance is creating a new Parking Services Fund 128 and adopting City of Yakima Municipal Code Chapter 3.129, Parking Services Fund, and shall take effect immediately upon its passage, approval and publication as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this 13th day of December, 2022. Janice Deccio, Mayor ATTEST: Sonya Claar Tee, City Clerk Publication Date: Effective Date: 4 FINANCE TO: Mayor and City Council FROM: Jennifer Ferrer-Santa Ines, Director of Finance and Budget DATE: November 15, 2022 RE: Establishment of a Parking Services Fund The City of Yakima owns and maintains five lots in the downtown area. Each of these lots provides for a free two-hour parking option. Staff contracted with Rick Williams Consulting (RWC) to evaluate the City's current public parking system to assess the financial feasibility of a transition to pay to park operations within the public on and off-street parking areas in the City. RWC presented its findings to the Council at the October 11t" study session with its key findings for overall occupancy and demand as well as projections of revenues at various hourly rate options from $0.50 to $1 .25. As directed by Council, attached is a Draft Ordinance establishing a separate fund to be named Parking Services Fund for the purpose of accounting for parking revenues from city owned lots, street parking, and monthly parking permits. This new fund will also account for expenditures related to the operations of the parking management system including, but not limited to, parking enforcement, debt service on the parking kiosks and stations, along with capital improvements in the parking zone areas. Examples of these capital improvements may include on and off-street parking lot maintenance and construction, sidewalks, street trees, and others. The intent is to generate revenue to maintain the operations of the downtown parking areas and invest in the downtown commercial areas. Having a separate fund will ensure that revenue collected from parking can only be used within the guidelines provided above and not comingled with other funds in the City. It will be easier to report on revenue received from parking and there will be better tracking for expenditures on parking related transactions and costs.