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Parking Future
Provincial policies and plans will result in increased population and employment in Cambridge, with a focus on the Core Areas Over the next 25 years, Cambridge will grow by 54,000 people and 25,000 jobs. Assuming no change in transportation behaviour, this will mean a demand for several thousand more parking spaces in the Core Areas Increased Core Area development may reduce parking supply as parking lots are redeveloped for other uses
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Benefits of Implementation
A user-friendly parking system that is fair to all Contributes to the development of a sustainable community environmentally, financially, and when growth planning Parking Management plays an important role in transportation demand management strategies Parking Management also plays an important role in the success of a rapid transit system
Plan Updates
The approved plan has been compared to present day conditions to determine if any updates are required. Two key areas were identified for review: i) ii) Replacement of free lot in Galt Core Financial Update
Replacement of Free Lot in Galt Core The Core Areas Parking Master Plan identified the Grand Avenue municipal lot as the free parking lot for the Galt Core Area, however lot is no longer available due to development Staff reviewed other similarly sized Zone 2 off-street lots Recommend assigning Beverly St Lot as the free lot to replace the Grand Avenue Lot.
Plan Updates
Financial Update Revenue projections were revised to designate Beverly Street lot as the free lot in the Galt Core The revised FA indicates that the current subsidy of parking operations is approximately $120,000 Subsidy would be eliminated with the implementation of Core Areas Parking Master Plan Core Areas Parking Master Plan would provide $135,000 annually for parking lot replacement Core Areas Parking Master Plan would generate approximately $480,000 over 10 years to be used for parking expansion
Implementation Plan
It is recommended that the Master Plan be implemented as approved by Council while the funding is available through the Cambridge Transit Supportive Strategy Any major changes to the approved Master Plan may trigger the need for a full scale review of the plan which would increase costs and cause delays for the City A major change includes the cumulative effect of several minor changes Monitoring and Measurement is a key component of the CAPMP. It is recommended that the first full evaluation be conducted 18 months following implementation. Any adjustments to the Master Plan will be considered at this time This approach is consistent with other projects of similar scope and nature
Next Steps
Summarize feedback from Community Update Meetings and Stakeholders regarding the implementation of the Core Areas Parking Master Plan for Council consideration November 12, 2012 Council to consider approval of Core Areas Parking Master Plan Implementation Plan If implementation is approved by Council: May 1, 2013 User pay parking in effect in all 3 Core Areas May 2013 to December 2014 Monitoring and Evaluation of Core Areas Parking Master Plan Implementation with summary and update Report to Council