CASH IN LIEU OF PARKING RESERVE BYLAW (Staff Report)

COUNCIL REPORT

TO: Council
DATE: April 11, 2019
FROM: L. Chase, Director of Development Services
MEETING DATE: April 16, 2019
FILE NO.:

CASH IN LIEU OF PARKING RESERVE BYLAW

RECOMMENDATION:

THAT Council give “Cash in Lieu of Parking Reserve Bylaw No. 1022, 2019” three readings.

CHIEF ADMINISTRATIVE OFFICER’S COMMENTS:

I concur with the recommendation.

PURPOSE OF REPORT:

To introduce a reserve bylaw in support of the adopted cash in lieu provisions in the Zoning Bylaw.

TIME CRITICAL:

Yes. We anticipate receiving cash in lieu of parking funds related to a development shortly.

BACKGROUND:

Council adopted cash in lieu of parking provisions in the Zoning bylaw in April 2014. The Zoning Bylaw includes provisions that allow commercial, mixed use and multifamily projects to provide cash in lieu of up to 15% of the required parking stalls. The value of a parking stall was established at $12,000 in the zoning bylaw.

The legislation enabling receipt of cash in lieu of parking requires that any funds received under the provision be placed in a specific reserve account for the purpose of: a. Providing off-street parking spaces b. Transportation infrastructure that supports walking, bicycling, public transit or other alternative forms of transportation

Staff anticipate receiving our first cash in lieu payment in 2019 and the creation of a reserve fund is necessary to comply with the legislated requirements.

PROJECT INFORMATION:

Draft Bylaw No. 1022 is on the agenda for readings. It outlines the use of funds received as cash in lieu of parking.

ALTERNATIVES TO STAFF RECOMMENDATION:

If Council declines to adopt the bylaw, the funds cannot be received and the zoning bylaw should be amended to remove this provision.

RECOMMENDATION:

THAT Council give “Cash in Lieu of Parking Reserve Bylaw No. 1022, 2019” three readings.

SUBMITTED BY: Lindsay Chase, Director of Development Services
REVIEWED BY: Kim Anema, Chief Administrative Officer