Submitted By
Tammie Grossman, Director of Development Customer Services
Reviewed By
A.M. Zayyad
Agenda Item Title
Title
First Reading of an Ordinance Amending Chapter 15 ("Motor Vehicles and Traffic"), Article 3 ("Parking Meters, Parking Permits and Municipal Attendant Parking Lots"), Section 15-3-18 ("Parking Rates; Parking Meters, Pay By Space Machines, Village Operated Parking Structures, Permit, Extended Pass, Valet and Daytime On Street Permit Parking") of the Oak Park Village Code
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Overview
Overview
Pursuant to the Village Board's direction at its October 3, 2022 meeting regarding parking fee revisions for FY 2023, staff prepared an Ordinance to codify all of the applicable revisions within Chapter 15 of the Village Code.
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Recommendation
Recommendation
Approve the Ordinance.
Fiscal Impact
Village staff has prepared the two attached spreadsheets to provide the Village Board with various parking-related costs as they relate to the utilization of the Parking Garage and pay-by-plate parking spaces by customers who are frequenting DTOP and Hemingway District businesses for entertainment, dining, and professional service treatments.
Anticipated revenue impacts from the fee revisions proposed via this Ordinance are reflected in the requested FY 2023 Parking Fund budget. The Parking Fund is classified as an Enterprise Fund. Enterprise Funds are distinguished from other Village Funds in that they are often run like a business and are funded by user fees rather than taxes or other revenue sources typically assessed to the public for funding general Village operations. In other words, the user fees collected (parking rates) should always meet or exceed the expenses incurred by the Fund.
Background
At its October 3, 2022 meeting, the Village Board directed staff to prepare an Ordinance codifying the FY 2023 fee recommendation for the Parking Fund and take other necessary administrative steps to prepare for the following:
1. Standardize the dy...
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