Description: Based on the policy adopted under Strategy P.1, implement the performance- based system and an annual adjustment protocol so that parking availability targets are reached over time, and adjusted appropriately, as the campus evolves.
Performance-based management uses the cost of parking to achieve an availability goal across the campus. The primary outcomes of such a program are to maximize use of the existing supply, better distribute demand across campus, make it easy to find an available space, and provide more affordable options.
Parking permits are a primary source of revenue, and they help recoup much of the cost of providing parking and transportation facilities and services. In addition to generating revenue, the current parking permit program serves to partially ration the finite space available for
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vehicle storage and to allocate parking spaces among different segments of the campus community.
However, permit systems must be intuitive and easily understood to send effective price signals.
Communications about such systems must be clear to ensure members of the campus community understand its rationale. The current permit system is quite complex, and permit names do not intuitively communicate the quality or convenience of associated parking
facilities. For CI, it is recommended that the future pricing system be simplified into pricing tiers, with the most convenient spaces on campus priced at a higher rate, while those farther away would be priced at a lower rate.
The specific tiers include:
Tier 1: Platinum (Core) Zone: Permit holders would pay the highest rate to park close to the campus core. Faculty and staff members should be offered these permits before selling to other affiliates.
Tier 2: Premium (Outer Core) Zone: Permit holders would pay a moderate rate to park in the facilities located on the periphery of the campus core, near student resident halls.
Resident students should be offered these permits before selling to faculty and staff, then others.
Tier 3: Value (Periphery) Zone: Permit holders can pay much less than the other tiers to park in more remote lots, with longer walks or shuttles connecting to the campus core.
Commuter students should be offered these permits before selling to other affiliates.
Student Housing: Parking facilities in which resident students would be given first priority before selling to other affiliates.
Visitor Parking: Visitors would be eligible to park in unrestricted space in any Tier 1-3 lot, subject to a daily or hourly rate by tier. To support visitor parking, it is recommended that time limits at metered spaces in Tier 1 and 2 spaces be removed, allowing visitors to easily stay more than 45 minutes, but not pay a full daily rate if they are staying for only a few hours.
Figure 4-11 Proposed Initial Pricing Tiers for Students and Visitors
Pricing Tier Facilities Rates
(for students, visitors)
Spaces Affected
Tier 1:
Platinum (Core) A1, A5, A6, AE, BRO*, CY37, R
Daily: $9 / day
Metered: $2 / hr (A1)
$275 / semester
252 spaces
Tier 2:
Premium (Outer Core) A2, A7, A4, A8, A10, Rincon Dr./Chapel Dr. (123 spaces)
Daily: $7 / day
$1 / hr (Rincon Dr./Chapel Dr.)
$230 / semester
785 spaces
Tier 3:
Value (Periphery) A3, A11, CEN, G8/G9, D (currently ADA only)**
Daily: $6 / day
$195 / semester
(Collective bargaining employee permits work in this Tier)
974 spaces
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$250 / semester
Student Housing SH1, SH2 (goal: slightly higher than
commuters, at least similar
575 spaces;
to Tier 1 rates)
*BRO lot is planned to be used primarily by maintenance vehicles in the future, reducing the need for maintenance spaces throughout campus.
**Though D lot currently only serves ADA spaces, future campus wide allocations of ADA spaces must meet supply requirements, and be distributed in a way that provides access to all campus destinations.
The tiered pricing approach is necessary to achieve an average 14.7% price increase in 2017 (i.e.
the first necessary modeled price increase). To meet staff’s negotiated terms, the cheap periphery lot prices must be maintained at $195. Due to the price differential between core and periphery zones, the university cannot oversell periphery permits too much at risk of frustrating motorists who cannot find parking.
It should be noted that due to shared jurisdiction over Rincon Dr. and Chapel Dr. between CI and the Site Authority of the University Glen Apartments, an agreement would need to be reached between the parties regarding management, enforcement, cost-sharing, and revenue- sharing.
Actions Steps: Boundaries will need to be established for each demand-based parking
management tier. Specific target availability targets should be set to determine the “right price”
of parking. Minimum and maximum hourly rates and thresholds for rate adjustments should also be set to guide the pricing structure. Price tiers and rates may be subject to change on an annual basis, based on evidence of changes in parking demand.
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Overflow
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Demand Responsive Pricing Tiers
Parking Lots and On-Street Meters
• Tierl, Platinum (Core) Tier 2, Premium (Outer Core)
• Tier3, Value (Periphery)
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Figure 4-12 Parking Facilities by Proposed Parking Tiers Term
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- -
Case Study: University of Colorado-Boulder
The University of Colorado-Boulder’s parking pricing structure is based on the distance from the core of the main campus and frequency of use. There are four parking tiers with the main campus
providing highest cost parking, peripheral lots being mid-priced, unpaved lots being low-priced, and remote lots with shuttles being the most discounted option—costing only one-quarter of the central parking option for both students and staff. Shuttles serve the remote parking lots on weekdays from 6 a.m. to 7 p.m. Student parking permits are available at each distance rate and can be purchased for a semester term, the academic year, or for 5, 8, or 10 week periods in the summer. Figure 4-13 shows the student permit rates for 2016-2017.1
Figure 4-13 University of Colorado, Boulder: Student Permit Prices, 2016-2017 2016 2017 Rates Remote/Shuttle
Rate Low Rate Mid Rate High Rate (in Central
Locations)
Semester Rate $49.00 $131.00 $168.00 $198.00
Academic Year Rate $98.00 $262.00 $336.00 $396.00
Summer Semester Rate 5 Week
8 Week 10 Week
N/A
$33.75
$54.00
$67.50
$42.50
$68.00
$85.00
$51.25
$82.00
$102.50