Implementation Steps
1. Develop legislative framework for the creation of a PBD program
A portion of parking revenues in a defined geographic area are reinvested in the same area for the purposes of improving the transportation and parking system. Chapter 15 of the Tampa City Code should be amended to include language allowing for this type of strategic investment. The code should also require the Mobility Director, or their designee, to develop rules and regulations for the administration of the PBD. These rules and regulations would establish the administrative framework for the PBD program.
2. Develop administrative framework for the creation of a PBD program
Rules and regulations should be developed to establish the administrative framework of the PBD program. This administrative framework should address the following program features:
- Procedure to establish, modify, or remove a PBD
- Revenue allocation methodology
- Use of PBD funds
- Notification and reporting requirements
3. Build financial forecast for each proposed PBD
Based on the revenue allocation methodology established in the administrative framework, the City should build a financial forecast for each proposed PBD. It is recommended that no more than 50% of net parking revenues within the PBD be invested back into the district. The financial forecast should examine current revenues and expenses within the district and look ahead up to ten years to determine the financial performance of the PBD. Expenses to consider as part of the PBD include but are not limited to:
- Administrative costs including data management system contract costs
- Personnel costs including enforcement staff
- Paid parking equipment capital and operating expenses
- Maintenance and enforcement vehicles
- Capital reserve fund totally 25% of overall fund expenses
PBD revenues that should be considered including parking meter revenue and permit revenue. Off-street revenue should not be considered in the PBD, nor should parking citation revenue. The results of the financial forecast should demonstrate the PBD generates meaningful excess revenue to invest in the transportation and parking system.
4. Conduct stakeholder outreach in each proposed PBD
City staff should work with its partners in Development and Economic Opportunity and the Community Redevelopment Agency to engage with Davis Island, Downtown, and Tampa Heights about the creation of PBDs in each area. The stakeholder outreach should focus on the identification of projects and programs that could be funded by the PBD, key stakeholders who would participate in the PBD, and parking management decisions that would take place in tandem with the development of the PBD. This engagement should leverage existing stakeholder networks in each area, and this network’s ability to communicate with a broader audience as necessary through the PBD creation process.
5. Establish PBD Investment Menu
Based on stakeholder outreach and an internal assessment of district needs, City staff should establish a PBD investment menu. This investment menu would be included in the PBD administrative framework and inform the financial forecast. The investment menu should focus on transportation and parking infrastructure and programs. Limiting PBD investments to increasing mobility and access will better align parking management decisions with those of the PBD. Investment menu options could include:
- Education and awareness campaigns
- Parking validation programs
- Employee mobility options
- Parking wayfinding and signage
- Parking technology
Setting expectations early with the PBD committee and broader stakeholder group about the revenue share and investment rough order of magnitude amount and possible investment projects and programs is important to the overall success of the program.
6. Limit Legacy Funding Streams
Currently, the Parking Division allocates a portion of its net revenue to transportation improvements in the City of Tampa. To ensure that net revenues can be accurately tracked and allocated to PBDs, the City of Tampa should maintain all net revenues in the established Parking Enterprise Fund. Removal of revenues from the enterprise fund will diminish the effectiveness of PBDs and lessen the impact parking revenue can have on improving the parking and transportation system.
Implementation Areas
The Action Items detailed in this section should be implemented in Davis Island, Downtown, and Tampa Heights.