Parking is an Enterprise Fund, operating on revenue collected from garage leases, garage hourly parking, on-street meters and parking violations.  Currently, the Division also receives $100,000 yearly from the Tax Increment Fund unless there is a special project granting the Parking Division additional funds.  In the FY '19 Parking budget, expenses exceed revenues despite this infusion of Tax Increment.  The working capital is able to balance this year but cannot do that indefinitely.  The Parking Division continues to cut expenses where it is feasible.  There are major Capital Projects that must be budgeted in future years, such as upgrading the parking garage gate control equipment, painting the interior walls of the parking garages and stairwells, improving the branding and signage in the garages as well as replacing the iron drainage piping with new PVC piping.  Furthermore, the Parking Strategic Plan recommends establishing and maintaining a maintenance reserve fund for future garage repair projects.  Therefore, the Billings Parking Board and City Parking Staff are proposing modest parking meter and garage rate increases in order to meet future goals.

City Council may:

• Accept the recommended changes approved by the Billings Parking Board and Parking Staff along with the attached rate resolution.  (Note:  FY 2020 rate increases would begin in August of 2019); or
• Disapprove the rate resolution and leave rates unchanged.  This action would result in the immediate need to find other means to cover operations and capital replacement; or
• Make other changes to the Parking Division's rate structure to generate the same amount of revenue as the first alternative.

The proposed changes are expected to generate an additional $225,706 in parking revenue over three fiscal years.  The proposed rates and revenue are as follows:
1.Garage Lease Rates:  2020              2021              2022        
  Monthly Roof                $30.25          $31.75            $33.25
  Monthly Covered          $60.50          $63.50            $66.50
  Monthly Assigned         $121.00        $127.00          $133.00
2.  Garage Hourly Rates: $1.00 per hour up to a maximum charge of $8.00 per day.
3.  Monthly Permit Lot Rates:  $80.00 per month.
4.  Bus Bag Rates:  $7.00 per bag per day.
5.  Meter Bag Rates:  $17.00 per bag for 1st day, additional days $7.00 per bag per day.
6.  10 Hour Permits - $25.00 per month
7.  Meter Rates - 1st hour $1.00, 2nd hour $1.00, 3rd hour $2.00 for maximum of 3 hours. (ex. staying 3 hours would cost $4.00.)


 

The Billings Parking Board and City Staff recommend that the City Council conduct a public hearing and adopt the resolution establishing new downtown meter, meter bags, bus bags, permits and parking garage rates for FY '20 - FY '22.