bethlehem parking authority feasibility study

7/24/2019 Bethlehem Parking Authority feasibility study

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PARKING

DEMAND

&

FEASIBILITY

STUDY

February

24,

2016

PreparedFor:

BethlehemParkingAuthority85 W N h S


2/27

TABLEOFCONTENTS

SECTION PAGE

IExecutiveSummary 1

IIParkingDemandAnalysis 2

IIIProposedParkingImprovements 13

IVFinancialAnalysis 14

V

Findings

22

List

of

Figures

FIGURE PAGE

1StudyArea 2

2OnStreetParkinginStudyArea 3

3OffStreetParkinginStudyArea 4

4ObservedPeakOccupancybyStreetSegmentandOffStreetFacility 7

5ProposedDevelopmentLookingSouthwest 8

6ProposedDevelopmentfromtheWest 9

7

Existing

Parking

Supply

within

Reasonable

Walking

Distance

11

8ProposedNewStreetGarageGradeLevelPlan 13

List

of

Tables

TABLE PAGE

1OnStreetParkingInventory&PeakOccupancy 5

2OffStreetParkingInventory&PeakOccupancy 6

3StudyAreaPeakParkingDemand 6

4FutureParkingDemandAnalysis 10


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SectionIExecutiveSummary

DESMANhasbeenengagedbytheBethlehemParkingAuthority(BPA)toprepareaParkingDemandand

FeasibilityStudytoassistinevaluatingtheneedsofexistingandfutureparkinggeneratorsintheStudy

Areaandprovidetheinfrastructuretomeetdemand.Thisassignmenthasagreatpotentialtopositively

influencethequalityoflifeoftheCitysresidents,employers,workersandvisitorsbyestablishingawell

conceivedplantomeetparkingandtransportationneeds.It iscriticalthatthisassignmentresults ina

planthatisimplementable,costeffective,safe,andwillbewellreceivedbythecommunity.

TheStudyAreaforthisassignmentisgenerallyboundby2ndStreetonthenorth,PackerAvenueonthe

south,WebsterStreetontheeastandBrodheadAvenueonthewest. ThisStudyintendstoprovidethe

BPAwithanevaluationoftheparkingconditions thatareexpected intheCitysSouthsideDowntown

with the planned development of several projects by private developers. This Report addresses the

existingparkingdemandsandtheanticipatedparkingconditionsafterthecompletionofthe foreseen

development initiatives in the study area. Subsequent tasks included an analysis of the financial

feasibility andperformanceof the BPAwith addeddebt from the constructionof a parking facility to

meetfuture

parking

demand

in

the

Southside,

maintenance

of

its

existing

infrastructure

and

general

operatingrequirements.

Basedonapprovedandplanneddevelopmentscenarios intheStudyArea,anadditionalpeakparking

demandof680spacesisexpectedduringtheweek.Thisinconjunctionwiththeexistingpublicparking

demand in the area of 104 vehicles, barring any other development which would increase parking

demand in the area, results in a total future peak weekday parking demand of approximately 780

spaces.Basedonthis levelofdemand,the idealfutureparkingsupply intheareawouldbeabout850

spaces,which

would

ensure

that

approximately

10%

of

the

public

parking

spaces

remain

vacant

during

thepeakdemandperiod,reducingexcessivecirculationofvehicles looking foranavailablespace. It is

commonpracticeintheparkingindustrytodesignparkingfacilitiesandsystemswiththislevelofexcess

peakcapacity. Assumingan ideal futureparkingsupplyof850spacesandanexpectedsupplyof144

spaces(74onstreet+70offstreet),approximately700additionalspaceswouldneedtobeconstructed

in order to adequately address the parking needs of this area of Bethlehem, assuming the proposed

developmentsarebuiltascurrentlyenvisioned.

Inorder

to

meet

the

expected

demand

for

parking

in

the

study

area

the

BPA

is

proposing

to

construct

aparkingstructureatthecornerofSouthNewStreetandRinkStreet.Thefacilityisplannedtoprovide6

levels of parking allowing for a capacity of 626 spaces. Budgets prepared to date for Design Costs,

Permits, Inspections,GeneralConditions,FeesandConstructionofthe626space facility indicatesthe

projectwillhaveacostofapproximately$17,750,000.

h bj i f hi fi i l l i d i h h h hl h ki


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needed such as parking rate increases and/or City of Bethlehem guarantees to cover the Authoritys

operationalexpenses

and

debt

obligations.

SectionIIParkingDemandAnalysis

ThissectionofourStudypresentstheresultsofourParkingDemandAnalysisperformedinconjunction

withourengagement. TheStudy Area isgenerally bounded by the Lehigh River to thenorth, Packer

Avenuetothesouth,WebsterStreettotheeast,andMontclairAvenuetothewest.Figure1showsthe

studyarea

boundaries.

ThestudyareaincludesaportionofLehighUniversity,significantretail,restaurantandofficespace,and

single andmultifamilyresidentialbuildings.TothenorthandeastofthestudyareaareNorthampton

CommunityCollege (NHCC),an icerink (Steel IceCenter),commercialspace,andtheremnantsofthe

old Bethlehem Steel plant and offices, a portion of which was redeveloped into SteelStacks arts and

entertainmentdistrict.Ontheeastandwest,thestudyarea isborderedmostlybyresidentialstreets,

whileonthesouthitisborderedbytheLehighUniversitycampus.Additionaldevelopmentisplannedin

thearea,

which

will

be

addressed

later

in

the

report.

Figure1StudyArea


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DataCollection

Inventoryandhourlyoccupancycountsoftheonstreetandoffstreetparking inthestudyareawere

performed on Wednesday, April 15, 2015 between 9AM and 8PM. The onstreet parking spaces

surveyed are monitored usingsinglespace meters whichaccept both coin and credit/debit cards and

areenforcedfrom8AMto9PM,MondaythroughSaturday.Theonstreetrateisa$1perhourwitha3

hourmaximumtimelimit.

Figure2showsthestreetsegmentswheremeteredparkingiscurrentlylocatedwithinthestudyarea.

Figure2OnStreetParkinginStudyArea

Source: DESMAN


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Table1OnStreetParkingInventoryandPeakOccupancy

Street Between Sideof

Street #ofSpaces 1:00PM Occ.%

UnionStation UnionStationPlace&W.2ndSt. East 7 0 0%

W.2ndSt. Un ionStationPlace&S.NewSt. North 16 0 0%

E.3rdSt. S.NewSt.&AdamsSt. North 4 4 100%

E.3rdSt. S.NewSt.&AdamsSt. South 5 3 60%

E.3rdSt. AdamsSt.&WebsterSt. North 12 6 50%

E.3rdSt. AdamsSt.&WebsterSt. South 7 4 57%

AdamsS t. C ol umb iaSt.&E.3rdSt. East 4 4 100%

AdamsS t. C ol umb iaSt.&E.3rdSt. West 4 4 100%

AdamsSt. E.3rdSt.&Mechanic East 3 0 0%

AdamsSt. The

Greenway

&

E.

4th

St. East 4 4 100%

AdamsSt. TheGreenway&E.4thSt. West 3 3 100%

AdamsSt. E.4thSt.&E.MortonSt. East 7 6 86%

AdamsSt. E.4thSt.&E.MortonSt. West 1 0 0%

MechanicSt. S.NewSt.&AdamsSt. North 11 3 27%

MechanicSt. AdamsSt.&WebsterSt. North 6 1 17%

WebsterSt. W.PackerAve.&E.MortonSt. West 14 8 57%

WebsterSt. E.MortonSt.&E.4thSt. West 4 4 100%

WebsterSt. E.3rdSt.&MechanicSt. West 6 0 0%

MontclairAve. CressSt.&Broadway St. East 3 0 0%

MontclairAve. CressSt.&Broadway St. West 3 0 0%

Broadway St. E.4thSt.totheSouthwest North 5 2 40%

BroadwaySt. E.

4th

St.

to

the

Southwest South 4 0 0%

Broadway St. E.4thSt.&BrodheadAve. North 6 3 50%

Broadway St. E.4thSt.&BrodheadAve. South 5 1 20%

BrodheadAve. E.4thSt.&W.PackerAve. West 32 3 9%

BrodheadAve. E.4thSt.&E.MortonSt. East 6 1 17%

BrodheadAve. E.MortonSt.&W.PackerAve. East 16 2 13%

W.PackerAve. BrodheadAve.&VineSt. North 11 2 18%

W.PackerAve. VineSt.&WebsterSt. North 34 29 85%

W.PackerAve. BrodheadAve.&WebsterSt. South 40 35 88%

E.MortonSt. BrodheadAve.&Mariel St. North 5 2 40%

E.MortonSt. MarielSt.&VineSt. North 5 3 60%

E.MortonSt. BrodheadAve.&VineSt. South 5 0 0%

E.MortonS t. V in eSt.&S.NewSt. North 8 8 100%

E.MortonS t. V in eSt.&S.NewSt. South 6 4 67%

E.MortonSt. S.NewSt.&AdamsSt. North 13 4 31%

E.MortonSt. S.NewSt.&AdamsSt. South 11 5 45%

E.MortonSt. AdamsSt.&WebsterSt. North 7 6 86%

E.MortonSt. AdamsSt.&WebsterSt. South 14 1 7%

E.4thSt. Bi rk elAve.&BrodheadAve. South 2 2 100%

E.4thS t. Bro dh eadAve.&VineSt. North 13 8 62%

E.4thS t. Bro dh eadAve.&Mariel St. South 8 6 75%

E.4thSt. Mari elSt.&VineSt. South 5 5 100%

E.4thSt. VineSt.&S.NewSt. North 8 7 88%

E.

4th

St. Vine

St.

&

S.

New

St. South 10 8 80%E.4thSt. S.NewSt.&AdamsSt. North 8 4 50%

E.4thSt. S.NewSt.&AdamsSt. South 8 4 50%

S.NewSt. E.3rdSt.&TheGreenway West 3 1 33%

S.NewSt. W.GrahamPl.&E.4thSt. East 7 5 71%

S.NewSt. W.GrahamPl.&E.4thSt. West 6 4 67%

S.NewSt. E.4thSt.&E.MortonSt. East 4 4 100%

S.NewSt. E.4thSt.&E.MortonSt. West 5 3 60%

VineSt. RinkSt.&E.4thSt. West 3 3 100%


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Table2OffStreetParkingInventoryandPeakOccupancy

Source:DESMAN

As seen in Tables 1 and 2, the onstreet metered parking spaces within the study area were 53%

occupied(264occupiedoutof502spaces)atpeak,whiletheoffstreetspaceswere33%occupied(128

occupied out of 392 spaces). The overall occupancy of the study area during the 1PM peak demand

periodwas44%,asshowninTable3.

Figure4shows theobservedoccupancyofeachmeteredstreetsegmentandoffstreet facilityduring

the1PM

peak

demand

hour

and

the

complete

set

of

hourly

on

and

off

street

parking

occupancy

counts

performedisincludedintheAppendixofthisreport.

Table3StudyAreaPeakParkingDemand

DESMAN

Thefinalfactortoconsiderinthisanalysisistheconceptofpracticalcapacity,whichsaysthataparking

systemisperceivedtobefullyoccupiedbythecommonuseratlessthanitsactualcapacity.Generally,

MapID FacilityNameorDescription Location Capacity 1:00PM Occ.%

A LehighRiverportParking

Garage 11W.SecondStreet 149 49 33%

B BroadwayStreetLot 201BroadwayStreet 22 4 18%

C WestThirdStreetLot ThirdStreetb/wBrodhead&

New 30 15 50%

D NewStreetBridgeLot 13W.ThirdStreet 17 5 29%

E ThirdStreet

Lot 24

E.

Third

Street 23 8 35%

F GrahamStreetLot 327S.NewStreet 38 27 71%

G Me chani c&WebsterLot Mechanicb/wAdams&

Webster 56 12 21%

H Third&WebsterLot CornerofWebster&3rd 15 8 53%

I BeneathFahyBridge EastofLehighRiverportParking

Garage 42 0 0%

TotalOffStreetParkingInventoryandOccupancy 392 128 33%

ParkingType InventoryObservedPeak

OccupancyOcc.%

OnStreet 502 264 53%

OffStreet 392 128 33%

TOTAL 894 392 44%


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Figure4ObservedPeakPeriodOccupancybyStreetSegmentandOffStreetFacility

Source:DESMAN

FutureDevelopments

Inorder

to

determine

the

anticipated

future

parking

demand

conditions

within

the

study

area,

it

was

necessary to identify any potential developments which could impact the supply of and demand for

parking. As the major institution in the study area, we spoke with Lehigh University regarding their

future development plans, as well as speaking with other stakeholders. While the University is not

currentlyplanninganydevelopmentsinornearthestudyareawhichwouldaffectpublicparking,there

are other projects being planned by private developers which could significantly impact public parking in


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west.Basedonconversationswiththedeveloper,ithasbeenassumedthatthecombined53,000SFof

groundfloor

retail

space

will

be

split

65%

to

35%

between

restaurant

and

retail

land

uses,

respectively.

Inaddition,apublicparkingfacilityisenvisionedtobebuiltencompassingtheentireblockboundedby

W.GrahamPl.onthenorth,S.NewSt.ontheeast,RinkSt.onthesouth,andVineSt.onthewest.This

analysisoftheimpactofthedevelopmentonfutureparkingsupplyanddemandwillhelpdeterminethe

appropriatesizefortheproposedparkinggarage.

Figures5and6providetworenderingsoftheproposedproject.

Figure5ProposedDevelopmentLookingSouthwestfromIntersectionof3rd

St.andS.NewSt.

Source:HowardKulpArchitects,P.C.


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Figure6ViewofProposedDevelopmentfromtheWest

Source:HowardKulpArchitects,P.C.

As

currently

envisioned,

this

development

will

result

in

the

loss

of

the

38space

Graham

Street

Lot,

identifiedinFigure4asLotF.Byfactoringthislossofparkingintotheanalysisofadditionaldemand

expected to be generated by the development itself, it is possible to determine the net impact the

developmentwillhaveonparkingdynamicswithinthestudyarea.

FutureParkingDemandAnalysis

Afutureparkingdemandanalysiswasperformedinthestudyareatodeterminethenumberofspaces

needed

in

the

proposed

parking

structure

to

support

future

development

in

the

area.

This

analysis

considered both the transient and monthly parking demand. The Urban Land Institutes (ULI) Shared

Parking,2nd

Edition was applied to project the future parking demand of the proposed development.

This isa well regarded resource in the professional parking services field that applies historic parking

data from specific land uses to understand the peak parking demand factor, time of day factor, and

monthly factor.This type of shared parking analysis provides a more accurate representation of the

truepeakparkingdemandas ittakes intoaccountthechange inparkingdemandoverthecourseofa

dayforeachlanduse.

Table4showsthesharedparkingdemandfortheproposeddevelopmentduringboththeweekdayand

weekendpeaks,basedonthespecificcharacteristicsofthedevelopmentdetailedpreviously.


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Table4FutureParkingDemandAnalysis

LandUse Size

WeekdayPeak

Demand(2PM)

SaturdayPeak

Demand(2PM)

APPROVEDBUIDLING

Office 88,000sf 270spaces 30spaces

Retail 18,0000sf 30spaces 40spaces

ProjectedParkingDemand 300spaces 70spaces

PROPOSEDBUILDING

StudentBeds 335beds 210spaces 240spaces

Restaurant 34,500sf 140spaces 250spaces

Retail 18,500sf 30spaces 40spaces

ProjectedParkingDemand 380spaces 530spaces

TotalFutureStudyAreaParkingDemand 680spaces 600spaces

Source:DESMAN

As shown in Table 4, the peak weekday demand at 2PM is projected to be 300 vehicles with the

approved development that will increase to approximately 680 spaces with the additional planned

mixedusebuilding.Theweekendparkingdemandsfromtheseprojectsareexpectedtoreach70spaces

initiallythatcouldgrowto600spaceswithfullbuildout.

Asstated

previously,

Shared

Parking,

2nd

Edition

was

applied

for

the

future

parking

demand

analysis.

A

mode split factor of20% wasapplied to theemployee parking demand, which is based on 2012 U.S.

CensusdataforthemeansoftransportationtoworkfortheCityofBethlehem.Variouscapturefactors

were applied for retail and restaurant visitors on weekdays and weekends due to the fact that office

workers and residents are expected to account for a large portion of the patronage of these

establishmentsduringtheweekdaydaytime,whilethosenot livingorworking inthedevelopmentare

expectedtoconstitutethelargestcustomersegmentduringtheeveningsandonweekends.

Thenext

phase

of

the

analysis

is

to

determine

the

number

of

additional

spaces

needed

in

this

area

to

supportthedevelopment.

AdequacyoftheFutureParkingSupply

In order to determine the number of additional parking spaces that may need to be constructed to

t thi f t d l t it i t id th i ti ki d d th f t


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Figure7depictstheportionofthestudyareawithina300footradiusofthepresumedmainentrances

toeach

of

the

buildings

in

the

proposed

development.

Figure7ExistingParkingSupplywithinReasonableWalkingDistanceofProposedDevelopment

Source:DESMAN

The existing on and offstreet parking spaces within these radii are viewed as reasonablyclose


14/27

Table5FutureOnStreetParkingSupplyAvailabletoServeDevelopment

Source:DESMAN

Table6

Future

Off

Street

Parking

Supply

Available

to

Serve

Development

Source:DESMAN

AsnotedinTable6,becausetheGrahamStreetLotwillbedisplacedbytheproposeddevelopment,the

capacity

of

this

lot

was

reduced

to

zero.

However,

the

existing

demand

for

the

lot

will

have

to

be

accommodatedelsewhere,thusitiscountedinthetotalpeakoffstreetoccupancycount.

Accordingtothisanalysisofreasonablewalkingdistance,inthefuture,duringthepeakdemandperiod,

it is anticipated that there will be 40 spaces of existing parkingsupply available to accommodate the

demand generated by the proposed development ((74 49) + (70 55) = 40 spaces) Given that the

Street Between Sideof

Street #ofSpaces

Weekday

DaytimePeak

Occ.

Occ.%

E.3rdSt. S.NewSt.&AdamsSt. North 4 4 100%

E.3rdSt. S.NewSt.&AdamsSt. South 5 3 60%

MechanicSt. S.NewSt.&AdamsSt. North 11 3 27%

E.4thSt. VineSt.&S.NewSt. North 8 7 88%

E.4thSt. VineSt.&S.NewSt. South 10 8 80%

E.4thSt. S.NewSt.&AdamsSt. North 4 2 50%

E.4thSt. S.NewSt.&AdamsSt. South 4 2 50%

S.NewSt. E.3rdSt.&TheGreenway West 3 1 33%

S.NewSt. W.GrahamPl.&E.4thSt. East 7 5 71%

S.NewSt. W.GrahamPl.&E.4thSt. West 6 4 67%

S.NewSt. E.4thSt.&E.MortonSt. East 4 4 100%

S.NewSt. E.4thSt.&E.MortonSt. West 5 3 60%

VineSt. RinkSt.&E.4thSt. West 3 3 100%

74 49 66%TotalOnStreetParkingInventoryandOccupancy

MapID FacilityNameorDescription Location Capacity

Weekday

DaytimePeak

Occ.

Occ.%


New 30 15 50%

D NewStreetBridgeLot 13W.ThirdStreet 17 5 29%

E ThirdStreet

Lot 24

E.

Third

Street 23 8 35%

F GrahamStreetLot* 327S.NewStreet 0 27

70 55 79%TotalOffStreetParkingInventoryandOccupancy

*The future capacityofthis l oti s shown as "0"because the lo twill be l o sttothe development.The 27parkers displacedfrom

this l otwill need tobe accommodated elsewhere, thus theyare still countedi nthe peakoccupancynumber


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approximately780spaces.Basedon this levelofpeakdemand, the ideal futureparkingsupply in the

areawould

be

about

850

spaces.

This

supply

of

parking

would

ensure

that

approximately

10%

of

the

spacesremainvacantduringthepeakdemandperiod,reducingexcessivecirculationofvehicleslooking

for an available space; it is common practice in the parking industry to design parking facilities and

systemswiththislevelofexcesspeakcapacity.

Assumingan ideal futureparkingsupplyof850 spacesandanexpectedsupply of 144 spaces (74 on

street+70offstreet),approximately700additionalspaceswouldneed tobeconstructed inorderto

adequatelyaddresstheparkingneedsofthisareaofBethlehem,iftheproposeddevelopmentsarebuilt

ascurrently

envisioned.

SectionIIIProposedParkingImprovements

InordertomeettheexpecteddemandforparkinginthestudyareatheBPAisproposingtoconstructa

parkingstructureatthecornerofSouthNewStreetandRinkStreet.Thefacilityisplannedtoprovide6

levelsofparkingallowingforacapacityof626spaces.Thefacilitywillnotincludeanyparkinggenerating

mixeduse space and will be operated by BPA as a public parking facility providing support to the

adjoiningSouthside

neighborhoods.

It

is

expected

that

the

facility

will

operate

on

a

24hour

7

day

basis.Figure8illustratesthearrangementoftheproposedfacilityanditsgradelevelrelationshiptothe

surroundingstreets.

Figure8ProposedNewStreetGarageGradeLevelPlan


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BPA hasengagedArchitects, EngineersandaConstruction Manager todesignand construct the New

Street

Parking

Garage.

Plans

have

been

progressed

and

received

approval

from

the

Citys

HistoricConservation Commission and has been submitted to the Citys Planning Commission for approval.

Based on the progression of the Construction Documents, BPAs Construction Manager Boyle

Construction, Inc. from Allentown, PA has developed construction budgets for the project. Budgets

prepared todate forDesignCosts,Permits, Inspections,GeneralConditions,FeesandConstructionof

the 626space facility indicates the project will have a cost of approximately $17,750,000. For the

purposeoftheseanalysesthiswastheassumedConstructionCostfortheNewStreetParkingGarage.

SectionIV

Financial

Analysis

Thenexttaskforthisstudy istoprepareafinancialanalysisthatcombinestheannualizedcostforthe

developmentoftheNewStreetGarage,andtheassociatedoperatingexpensesandrevenues, intothe

BPAsprojectedOperatingStatementoverthenext30years,ortheexpectedlengthofthedebtservice

forthisproject.ThisfinancialanalysisispremisedonanexpectationthattheBPAwillissuenew30year

parkingrevenuebondstofundthedevelopment. Theobjectiveofthisfinancialanalysisistodetermine

whetherornottheBPAcanbeexpectedtogenerateenoughsystemwiderevenuetobeselfsupported,

meaning

the

systemwide

revenues

are

sufficient

to

cover

the

BPAs

expected

operating

expenses,

capitalexpendituresanddebtserviceobligations.

DESMAN,workedinconjunctionwithBPAsFinancialAdvisorPublicFinancialManagement,Inc.from

Harrisburg, PA to develop debt service schedules, operating expenses and revenue forecasts for both

theproposedNewStreetGarageandBPAsentiresystem. Theseprojectionswherethenintegratedinto

BPAssystemwidebudgetforecaststodeterminethefeasibilityoftheAuthoritytoincuradditionaldebt

associatedwiththisproject,whilestillremaininginapositivecashflowposition.

ThefollowingAssumptionshavebeenincludedinthefinancialanalysesandmodeling:

1. NewStreetParkingGarageConstructionCostof$17,750,000.

2. $2,100,000 of net Pennsylvania Redevelopment Assistance Capital Program proceeds is

availablefortheNewStreetParkingGarage.

3. Bonding will be structured and issued for a 30year term with 50% taxexempt and 50%

taxabledebt.Ablendedinterestrateof5.26%wasusedfortheseanalyses.

4.

The

Authority

will

have

expenditures

of

approximately

$7,000,000

in

2019

for

necessary

deferredcapitalrepairs,restorationandmaintenanceofitsexistingparkingstructures.Itis

anticipatedthesecostswillbefinancedwithabond issueanddebtservicestructuredover

20years.

5.

An annual Capital Reserve Fund of $200,000 was included up to year 2017. After BPA

accumulated a $1,000,000 Reserve Fund the annual expense was reduced to $100,000.


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6.5.

MonthlyRateinSouthsideSurfaceLotswillincreasefrom$31/monthto$40/month.

7.

AllMonthly

Rates

will

increase

every

5

th

year

by

$5.00/month.

8.

Special Event,Advertisement, Park& Shop, Resident Permits, Tow,Valet&Miscellaneous

RevenueGrowthRate2%annually.

9. ParkingViolationRevenuehasassumedtobeflatforthedurationofthebond.

10.SalaryandBenefitGrowthRateswereasfollows:

10.1. Salaries3.04%annually.

10.2. Benefits3.00%annually.

10.3. Pension/Other2.00%annually.

11.

OperatingExpense

Growth

Rate

2.00%

annually.

12.Estimatesfor2015arebasedonnumbersasofNovember2015fromBPA.Itistheseanalyseswillbe

updatedafterfinal2015operatingstatementsareavailablefromBPA.

Withtheadditionofthe626spaceNewStreetParkingGarageBPAwillincuradditionalOperatingand

Maintenance Costs. The combination of utility, contracted maintenance services and laborrelated

expenses(i.e.wages,vacationaccrual,payrolltaxes,workerscompensationandhealth&welfare)will

account for more than 75% of the direct operating expenses for this new facility. The total annual

operatingcost

estimate

also

includes

a$50.00

per

space

sum

that

should

be

deposited

annually

into

aRepairandReplacementFundtocover thecostofanystructural repairs. Workingwithofficials from

BPA DESMAN has forecasted the additional expected expenses associated with operating and

maintaining this facility. UsingBPAsexistingoperationand practices,Table7 illustrates theexpected

YearOneBudgetfortheNewStreetParkingGarage.


18/27


19/27

Table 8 provides a detailed breakdown of the anticipated annual revenue estimates the New Street

Garagewill

generate

in

the

first

full

year

of

operation.

The

parking

rates

in

the

table

are

reflective

of

the

proposedincreasesrecommendedbyBPAandtentativeagreementswiththedeveloperoftheadjacent

building.Themonthlyparkersareassumedtobenewpermitholderstothesystemratherthantransfers

from other BPA facilities, with the exception of the Graham Street Lot which will displaced by this

project. Similarly,thedailynumberoftransientorhourlyparkersprojectedtousetheproposedgarage

representsnewuserswhowillbevisitorstotheplanneddevelopmentadjacenttothegarage. Forthe

purposeoftheseanalysesweassumedthattherewouldbenogrowthinparkingdemandasaresult

ofanyfuturedevelopment. Clearly as additional redevelopment and/or new development comes on

line

in

the

immediate

area

the

demand

for

public

parking

will

increase,

thus

increasing

the

revenuepotentialfortheNewStreetGarage.

Table8NewStreetGarage YearOneRevenueForecast


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Table9incorporatesthepreviouslydetailedannualrevenueandoperatingexpenseprojectionsaswell

asproject

debt

service

obligations

for

the

New

Street

Garage

into

asystem

wide

BPA

multi

year

cash

flowproforma. Table9also incorporates theAssumptionspreviously referencedand included in this

sectionoftheStudy.


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ParkingDemand&FeasibilityStudy

BethlehemParkingAuthority

Page19of25

Table9ForecastedSystemWideSummaryofRevenues&Expenses


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Page20of25



23/27



Page21of25



24/27

SectionVFindings

This Report addressed the existing parking demands and the anticipated parking conditions after the

completionoftheforeseendevelopmentinitiativesintheidentifiedSouthsidestudyareawithintheCity

ofBethlehem.Subsequenttasksincludedananalysisofthefinancialfeasibilityandperformanceofthe

Bethlehem Parking Authority with added debt from the construction of the 626space New Street

Parking Garage. DESMAN, in conjunction with the Authoritys Financial Advisor Public Financial

Management,Inc.,preparedafinancialanalysisthatcombinedthedebtservice,operatingexpensesand

revenuesassociatedwiththedevelopmentoftheNewStreetGarageintotheBPAsprojectedOperating

Statement

over

the

next

30

years,

or

the

expected

length

of

the

revenue

bond

that

will

be

issued

for

thisgarage.

The objective of this financial analysis was to determine whether or not the Bethlehem Parking

Authoritycanbeexpectedtogenerateenoughsystemwiderevenuetobeselfsupported,meaningthe

systemwide revenues are sufficient to cover the BPAs expected operating expenses, capital

expenditures and debt service obligations. . Based on these analyses it appears the Authority will

operatewithsurplusrevenuesuntil2029 ifparkingdemands intheStudyAreaseenogrowth.Should

the

area

continue

to

see

redevelopment

activity

it

is

anticipated

there

would

be

a

demand

for

additional

publicparkingthatwouldchangetheforecastscontainedherein. Otherwiseadditionalrevenuesources

will be needed such as parking rate increases and/or City of Bethlehem guarantees to cover the

Authoritysoperationalexpensesanddebtobligations.


25/27

APPENDIX


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Page24of25

OffStreet

Parking

Inventory

and

Hourly

Occupancy

Counts

Source:DESMAN

MapID FacilityNameorDescription Location Owner Capacity 9:00AM Occ.% 10:00AM Occ.% 11:00AM Occ.% 12:00PM Occ.% 1: 00PM Occ.% 2: 00PM Occ.% 3: 00PM Occ.% 4:00PM Occ.% 5:00PM Occ.% 6: 00PM Occ.% 7: 00PM

A LehighRiverportParking

Garage 11W.SecondStreet

BethlehemParking

Authority 149 43 29% 52 35% 48 32% 55 37% 49 33% 34 23% 37 25% 60 40% 65 44% 80 54% 72

B BroadwayStreetLot 201BroadwayStreet BethlehemParking

Authority 22 5 23% 6 27% 4 18% 4 18% 4 18% 4 18% 4 18% 3 14% 7 32% 4 18% 4


New

BethlehemParking

Authority 30 15 50% 13 43% 11 37% 12 40% 15 50% 13 43% 12 40% 12 40% 12 40% 15 50% 12

D NewStreetBridgeLot 13W.ThirdStreet BethlehemParking

Authority 17 2 12% 3 18% 4 24% 11 65% 5 29% 6 35% 5 29% 8 47% 7 41% 9 53% 9

E Third

Street

Lot 24

E.

Third

Street

BethlehemParking

Authority 23 6 26% 9 39% 14 61% 10 43% 8 35% 8 35% 11 48% 12 52% 12 52% 11 48% 12

F GrahamStreetLot 327S.NewStreetBethlehemParking

Authority 38 26 68% 27 71% 29 76% 27 71% 27 71% 28 74% 24 63% 25 66% 23 61% 15 39% 12

G Mechanic&WebsterLot Mechanicb/wAdams&

Webster

BethlehemParking

Authority 56 9 16% 8 14% 11 20% 10 18% 12 21% 13 23% 17 30% 13 23% 13 23% 9 16% 10

H Third&WebsterLot CornerofWebster&3rdBethlehemParking

Authority 15 6 40% 6 40% 5 33% 8 53% 8 53% 9 60% 12 80% 10 67% 10 67% 12 80% 15

I Be ne athFahyBridge EastofLehighRiverportParking

Garage

BethlehemParking

Authority 42 0 0% 2 5% 2 5% 2 5% 0 0% 2 5% 0 0% 0 0% 0 0% 8 19% 7

392 112 29% 126 32% 128 33% 139 35% 128 33% 117 30% 122 31% 143 36% 149 38% 163 42% 153 TotalOffStreetParkingInventoryandOccupancy


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