Submitted By
Jill Velan, Parking and Mobility Services Director
Reviewed By
CLP
Agenda Item Title
Title
A Motion to approve extending the Valet Parking Services Agreement with SP Plus Corporation to Operate a Universal Valet Parking Program in the Downtown Oak Park Area for One Year and direct staff to prepare the necessary actions for formal approval at the February 21, 2017 Village Board meeting.
End
Overview
Overview
On July 18, 2016 the Village Board approved continuation of a valet parking services agreement with SP Plus Corporation to operate a universal valet program in the downtown Oak Park Area with a follow-up report in six months. This agenda item is the six month report and recommendation to continue the valet program for an additional 12 month period. Additionally, as a part of the holistic review of parking, the universal valet program will be considered as part of the public transit review area and Lake Street to determine if valet services are a customer service necessary for the Parking Fund to provide.
Body
Staff Recommendation
Approve the Motion.
Fiscal Impact
During the first ten months of operations, total gross parking revenue exceeded $24,000 and more than 4,500 cars were valet parked, with an average of more than 20 cars per days in the highest volume months.
Valet customers pay $5 for up to three hours and $12 for up to 10 hours of parking. Additionally, the cost of the valet program is funding by the Parking Fund of the Village, Westgate Medical Offices and the Oak Park Station developer. For FY16, the net expense to the Parking Fund was within the budgeted amount of $125,000.
The Parking Fund also supports the programs listed below to ensure convenient parking in the Greater Downtown Business Districts with estimated forgone parking revenue listed in parenthesis:
* 90 minutes free in downtown garages - ($530,000 annually)
* 60 minutes free in Avenue garage - (estimated expense of $70,000 annually)
* Large Volume Busin...
Click here for full text