City of Port Phillip
A3.3
Car Park Feasibility Study Final Report
Parking Fee Structure, Price Increases and Availability
For the purposes of the demand forecasting, the existing parking fee structure was assumed to remain. Currently this is: •
$4.20 per hour, $10 all day - from 8am to Midnight – 365 days per year.
Analysis of previous parking ticket prices suggests an annual increase of 3.3%. This was agreed with CoPP. It has been assumed that small annual increases in car parking prices have no affect on demand. Nearby car park availability in the St Kilda area is not expected to change significantly over the forecast period, and pricing for these car parks is assumed to be consistent with the Triangle site car park.
A3.4
Duration of Stay
It was assumed that the average duration of stay per parked car, as extracted from the CoPP parking dataset, would not vary over time. The rationale for this was: •
Activities in St Kilda would remain consistent over time (i.e. going to the beach, going to the Palais), and hence parking duration would not change; and
•
Parking fee structure remains the same and so there is no incentive to park for longer/ shorter time periods.
A3.5
Infringement Revenue
The new underground car park is likely to have controlled entry and exit using barriers. Illegal parking, and hence the issue of infringement notices, will be significantly, if not totally, reduced. Revenue currently generated from infringements (not included in this revenue forecasting) will be eliminated; however, the demand will remain and be realised instead as legal parking revenues. In 2010/11 there were 4,345 parking infringement notices issued. This demand is included in the forecast and the average revenue per transaction used to generate the revenue from this additional demand.
A3.6
Scenarios
Four future scenarios have been tested as shown in the table below. Car park spaces Exogenous growth Extended Palais operations Improved car park and facilities Removed Infringements
Existing 326
Small 200
Medium 300
Final Report | 7 June 2012 | Arup J:\223000\223083-00\04-00-00_ARUP PROJECT DATA\04-02-00_ARUP REPORTS\04-02-17_BUSINESS CASE\20120607 - DRAFT PUBLIC REPORT_3.DOCX
Large 500
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