Item 7.2 - Downtown Parking District
Meter Rates
Presented by:
Adrian Del Rio, Assistant Director, Finance Department
Jimmy Vasquez, Revenue Manager, Finance Department
1 2
CVMC Section 10.56.020 establishes
the parking meter rates:
Thirty (30) Minute Meters: A $0.25 deposit up to
the maximum time limit established for the zone in
which the meter is located
Two, Three, and Four-Hour Meters: A $0.25 deposit
for each 30-minute interval or a $0.50 deposit for
each one-hour interval up to the maximum legal
time limit established for the zone in which the
meter is located;
Ten (10) Hour Meters: A $0.25 deposit for each one-
hour period up to the maximum legal time limit
established for the zone in which the meter is
located.
CVMC Section 10.56.040 establishes
metered zone and parking lots:
List Streets and Time Limits
List Parking Lots and Time Limits
Master Fee Schedule Bulletin 13
3 On-Street Parking Meters – Single Space Meters
Time Restriction Rate #
2 Hours $0.50/hour 480
Off-Street Parking Meters /Lots – Multi-Space Meters
Off-Street Parking Time Restriction Rate #
Pay Lot 1 10 Hours $0.25/hour 14
Pay Lot 2 4 Hours $0.50/hour 74
Pay Lot 3 10 Hours $0.25/hour 118
Pay Lot 5 4 Hours $0.50/hour 42
Pay Lot 8 10 Hours $0.25/hour 53
Pay Lot 10 10 Hours $0.25/hour 28
Park Plaza Parking
Structure
3 Hours Free 670
Rates Established 17
Years Ago, December
of 2007
Lowest Parking Meter
Rates in the County
4 Parking Meter Revenue
Uses
Per CVMC Section 10.56.260, all revenue collected from parking meters in the City are to be deposited in the Parking Meter Fund:
• For the purchasing, leasing, installing, repairing, maintaining, operating, removing, regulating and policing of parking meters in this City and for the payment of any and all expenses relating or incidental thereto. • For the purchasing, leasing, acquiring, improving, operating and maintaining of off-street parking facilities in the City.
• For the installation and maintenance of traffic control devices and signals. • For the painting and marking of streets and curbs required for the direction of traffic and parking of motor vehicles.
• For the proper regulation, control and inspection of parking and traffic upon the public streets.
• To be pledged as security for the payment of principal and interest on off- street parking revenue bonds issued by the City or any parking district organized within the City
5 Downtown
Parking
District Capital
Needs
6 7
FY 2025 FY 2026 FY 2027 FY 2028 FY 2029
Beginning Fund Balances 1,300,000$ 1,239,700$ 365,000$ 126,200$ 33,600$ R evenues 780,400$ 790,400$ 800,400$ 810,600$ 820,900$ E xpenditures 840,700$ 1,665,100$ 1,039,200$ 903,200$ 917,400$ Projected S urplus / (Deficit) (60,300)$ (874,700)$ (238,800)$ (92,600)$ (96,500)$ E nding Fund Balance 1,239,700$ 365,000$ 126,200$ 33,600$ (62,900)$ Operating R eserve - T arget $400K 439,700$ 365,000$ 126,200$ 33,600$ -$ Capital R eserve - T arget $800K 800,000$ -$ -$ -$ -$ T otal R eserve Funds 1,239,700$ 365,000$ 126,200$ 33,600$ -$ Parking Meter Fund Analysis (Current Meter Rates)
On-Street Parking Meters – Single Space Meters
Time Restriction Rate #
2 Hours $0.75/hour 480
Off-Street Parking Meters /Lots – Multi-Space Meters
Off-Street Parking Time Restriction Rate #
Pay Lot 1 10 Hours $0.50/hour 14
Pay Lot 2 4 Hours $0.75/hour 74
Pay Lot 3 10 Hours $0.50/hour 118
Pay Lot 5 4 Hours $0.75/hour 42
Pay Lot 8 10 Hours $0.50/hour 53
Pay Lot 10 10 Hours $0.50/hour 28
Park Plaza Parking
Structure
3 Hours Free 670
Propose Rates Increase:
2 and 4 Hour Meters from $0.50 to $0.75 per
hour
10 Hour Meters from $0.25 to $0.50 per
hour
Implements
Downtown PMP
Recommendation #3
8 9
FY 2025 FY 2026 FY 2027 FY 2028 FY 2029
Beginning Fund Balances 1,300,000$ 1,372,100$ 765,100$ 796,900$ 828,000$ R evenues 912,800$ 1,058,100$ 1,071,000$ 1,084,300$ 1,097,700$ E xpenditures 840,700$ 1,665,100$ 1,039,200$ 1,053,200$ 1,067,400$ Projected S urplus / (Deficit) 72,100$ (607,000)$ 31,800$ 31,100$ 30,300$ E nding Fund Balance 1,372,100$ 765,100$ 796,900$ 828,000$ 858,300$ Operating R eserve - T arget $400K 572,100$ 400,000$ 400,000$ 400,000$ 400,000$ Capital R eserve - T arget $800K 800,000$ 365,100$ 396,900$ 428,000$ 458,300$ T otal R eserve Funds 1,372,100$ 765,100$ 796,900$ 828,000$ 858,300$ Parking Meter Fund Analysis (Proposed Meter Rates)
Staff Recommendation
• Ordinance amending Chapter 10.56 and Chapters 10.52 of CVMC to increase parking meter rates and reflect current parking meter zones and time limits • 2 and 4 Hour Meters from $0.50 to $0.75 per hour
• 10 Hour Meters from $0.25 to $0.50 per hour
• Resolution amending Chapter 13 of Chula Vista Master Fee Schedule to in parking meters rates
10 Questions?
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