An article in the Daily Local News of November 25, 2008 notes that West Chester intends to lease parking spaces in its newly-planned garage to companies that wish to reserve the spaces.
According to the DLN, West Chester Borough Manager McNeely states that the cost per space will be $20K-$27K and that a lessee will need to commit to paying off that cost over the term of the construction bonds, 20-30 years. The contribution to operating costs is extra.
At a 4% interest rate and a 20-year term, the basic monthly payment per space would be $121.20--163.61 (principal and interest, like your mortgage).
The Phoenixville Parking Authority (you remember them, don't you) needs to evaluate how many Phoenixville businesses are willing and able to make that commitment to solve the downtown parking 'crisis.'
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11 comments:
Great idea. How does one police the situation so only cars belonging to the lease-holder are parked in those spots?
Boy Richard, you have some good knowledge of parking in downtowns. Why aren't you on the board? Oh yeah, that thing called Monday morning quarterbacking.
Karlub --
Even if the businesses just lease spaces in a garage or lot for their employees and apartment renters, it will leave many more spaces for shoppers on the street.
If the leased spaces are for employees/renters, I would think that some type of placard or sticker would be used.
Anonymous November 25 2:47 PM:
As much as I enjoy football analogies, yours is not applicable in this case.
Richard is not on the Parking Authority most likely because the Borough Council President appointed all members of the Parking Authority.
Council had to "ratify" the appointees in a slight change to our local ordinance; otherwise, the Borough Council President had full control over PA membership.
I was able to make contact with 3 of the 5 appointed members before the Parking Authority vote for discussion. The other 2 were not reachable or did not respond prior to the vote.
You should pose your question to Council President Wagner as to why Richard did not receive consideration for the PA, if indeed you're aware that he would have any interest in accepting such an appointment.
Oh yes, and to the same Anonymous, thanks for your useful contribution to discussion of the financials questions surrounding the construction of a parking garage in this area.
That was the focus of this posting, wasn't it?
Any comments on that?
At the stated price, it appears to me that it would be quite challenging to port such an idea here successfully.
Unless of course, we just make the property taxpayers foot the bill.
The Parking Authority requested an allocation of zero dollars from the Borough in 2009. I think that speaks volumes.
See comments in the Daily Local News at
www.dailylocal.com/articles/2008/11/29/opinion/srv0000004146488.txt
Richard -- the link to DLN isn't working - can you repost?
Thanks!
Click on the word "article" in the first sentence. I tried it just now and it's fine. Can't help past that.
Why not get on this commission, Richard?
Have I been black listed, imposing censorship or delayed for one reason or another?
To "andthetuth...":
1. The Council President is the appointing authority for the Parking Authority. All the seats are presently filled.
2. Sometimes I just don't look at this blog for a few days.
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