Attachment A: Project Summary - Off-street parking review (N-099)
A one-page project summary for the discretionary parking review project detailing business problems and risks.
Project Summary
Priority: Discretionary Project Name: Off-street parking review Code: 1-2-05100-615 CC510-32
Submitted by: S. Scory, Community Planner and L. Taylor, Director of Development Services
Executive Summary
In June 2021, Council directed staff to review the parking regulations embedded in the Zoning Bylaw to determine if the current regulations require excessive parking, meet current and future parking demand in new developments. A parking review would also better align regulations with sustainable transportation and land use policies in the Official Community Plan (OCP).
Business problem and opportunity
During the draft OCP consultation in 2021, Council directed staff to review the existing parking regulations in the Zoning Bylaw to better understand parking supply and demand in new developments as there are concerns that the current parking regulations are too high, which can result in less efficient and desirable site planning and design outcomes.
Proposed project objectives
The Town has seen significant growth in recent years, including the introduction of many new and unique forms of commercial and residential development. The proposed project objective is to undertake a comprehensive review and update of the Town’s parking regulations, including accessible and bicycle parking requirements, to ensure that the parking requirements reflect current policies, local parking needs and best practices in parking regulations. Extensive stakeholder and public engagement would be included in the process to identify and test parking innovations.
Business risks
The risks associated with not undertaking a fulsome review of the Town’s parking standards may include more parking variances, undesirable site planning and impacts on housing affordability. Providing too much parking can discourage residents from using more sustainable modes of transportation.
Proposed sources of funding
Casino revenue (any approved grant funding would reduce the use of Casino revenue)
Costs and benefits
| Costs | FY1 | FY2 | FY3 | FY4 | FY5 | 5-year Total |
|---|---|---|---|---|---|---|
| Capital | 0 | |||||
| Operational | 35,000 | 40,000 | 75,000 | |||
| Total | 35,000 | 40,000 | 0 | 0 | 0 | 75,000 |
Benefits
- Tangible: Increase potential for land use, decrease site impact
- Intangible: More sustainable development, potential to decrease private automobile use
Recommendation
THAT the Committee recommend the 2023-2027 Financial Plan include off-street parking regulations review in 2023/2024 to be funded by Casino revenue.