CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL
COUNCIL BILL NO. R-20-127 ENACTMENT NO. ______________________
SPONSORED BY: Isaac Benton, Pat Davis
RESOLUTION
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Requiring The Transfer Of All Excess Parking Division Revenue To The General Fund (Benton, Davis)
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WHEREAS, the City of Albuquerque regulates parking on public streets and in City parking garages, including metered parking, residential permit parking, and on-street loading zones; and
WHEREAS, the management of on-street parking and use of City ROW for parking and other activities should serve the public, residents, and businesses; support economic development; and support revitalization goals; and
WHEREAS, the availability of parking is important to commercial and residential development, in particular in urban contexts where on-site parking may not be easily accommodated; and
WHEREAS, the City’s parking policy should balance the generation of revenue with the economic value of on-street parking that best serves quality of life, economic development and revitalization goals; and
WHEREAS, the City encourages and incentivizes on-street parking through the goals established in the ABC Comprehensive Plan and the Integrated Development Ordinance and zoning regulations in the IDO related to reduced parking requirements in urban redevelopment areas such as Downtown and the East Downtown Neighborhood; and
WHEREAS, parking fees and enforcement can support the Comprehensive Plan’s goals by effectively managing supply and demand to support businesses, and parking revenue can provide an appropriate source of revenue to further City budget goals and priorities.
WHEREAS, the City’s parking revenues should supplement community development programs in the General Fund to help balance the generation of revenue with the economic value of on-street parking that best serves quality of life, economic development and revitalization goals; and
WHEREAS, revenues collected for Parking enterprise activities are recorded in the Parking Facilities Operating Fund (641); and in part are pledged for the payment of outstanding Parking Facility bonds; and
WHEREAS, parking revenue kept solely within the operating budget of the Parking Division is not available for other City programs that can contribute to furthering goals and priorities.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF
ALBUQUERQUE:
SECTION 1. Excess revenue generated in the Parking Facility Fund (641) shall be transferred to the General Fund (110), net of annual debt service payments for outstanding Parking Facility bonds, and direct operating costs; for the purpose of furthering all City budget goals and priorities.