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HomeMy WebLinkAboutagenda.apz.20030916 AGENDA ASPEN PLANNING & ZONING COMMISSION REGULAR MEETING TUESDAY, SEPTEMBER 16, 2003 4:30 PM SISTER CITIES ROOM I. COMMENTS A. Commissioners . B. Planning Staff C. Public II. MINUTES III. DECLARATION OF CONFLICTS OF INTERESTS IV. PLANNING AND ZONING COMMISSION PUBLIC HEARINGS A. PARK PLACE (707 E. HYMAN) CONSOLIDATED CONCEPTUAL/FINAL PUD, CONDITIONAL USE, AND GMQS EXEMPTIONS FOR AH, Chris Bendon, continued from 9/2 V. BOARD REPORTS VI. ADJOURN ASPEN PLANNING & ZONING COMMISSION REGULAR MEETING TUESDAY, SEPTEMBER 16, 2003 4:30 PM SISTER CITIES ROOM I. COMMENTS A. Commissioners B. Planning Staff C. Public II. MINUTES III. DECLARATION OF CONFLICTS OF INTERESTS IV. PLANNING AND ZONING COMMISSION PUBLIC HEARINGS A. PARK PLACE (707 E. HYMAN) CONSOLIDATED CONCEPTUAL/FINAL PUD, CONDITIONAL USE, AND GMQS EXEMPTIONS FOR AH, Chris Bendon, continued from 9/2 V. BOARD REPORTS VI. ADJOURN LAW OFFICES OF HERBERT S. KLEIN & ASSOCIATES, P.C. HERBERT S. KLEIN hsklein@rof.net 201 NORTH MILL STREET LANCE R. COTE * SUITE 203 ASPEN, COLORADO 81611 cote@rof.net Telephone (970) 925-8700 MADHU B. KRISHNAMURTI Facsimile (970) 925-3977 madhu@rof.net September 11, 2003 * also admitted in California Via Hand Delivery City of Aspen Planning and Zoning Commission c/o Mr. Chris. Bendon, Senior Planner City of Aspen Community Development Department 130 S. Galena Street Aspen, CO 81611 Re: Park Place Conceptual PUD, Subdivision, Conditional Use, etc. Dear Chris and Honorable Members of the Planning Commission: I am again writing to you on behalf of the 700 E. Hyman Condominium Owners' Association (the "Association") concerning the Park Place Commercial Parking Facility application for a parking structure to be located at the corner of Spring St. and Hyman Avenue. At the last Planning Commission meeting; the applicant provided a report on the noise associated with the parking apparatus and a traffic study. Although the public hearing was closed, given the new information provided, we believe it is appropriate for the Commission to consider our comments on these reports. 1. The Noise Report. The applicant submitted a noise study dated Aug. 27, 2003, from Gary Ehrlich, Senior Acoustical Engineer. The report was done on, what we are told is, the only other facility in the U.S. using this technology. The equipment was located in a private parking garage and sound measurements were taken near the garage overhead door. The equipment was operated without any cars on the lift. On the last page of the report it states: "It can also be seen that the sound level in the garage was typically between 50 - and 65 dBA, and occasionally reached 70 to 80 dBA." These sound levels exceed the maximum sound levels for this zone district allowed under the City's Land Use Code ("Code"), thus, this project cannot be approved. The relevant Code provisions are found in Article 18 (the "Noise Ordinance"). Excerpts of these sections are attached. Section 18.04.040 limits .the maximum allowable noise in the Residential land use district (defined by Sec. 18.04.020(cc) as including the Office zone) to 50 dBA between the hours of 10:OOPM and 7:OOAM and 55 dBA between the hours of 7:OOAM and 10:OOPM. So when the report says the sound level is "typically between 50 and 65 dBA," it is saying that the garage will typically violate the Aspen Municipal Code noise ordinance! When the report says the noise levels "occasionally reached 70 to 80 dBA," it is saying that occasionally the noise reached levels that are City of Aspen Planning and Zoning Commission c/o Mr. Chris Bendon, Senior Planner City of Aspen Community Development Department September 11, 2003 Page 2 deemed harmful! ' Viewing the charts submitted with the report makes it clear that the Noise Ordinance's night time 50 dBA limit is exceed at all times. (See Figure 1 attached to the report). The 55dBA daytime limit is exceeded most of the time and sound levels between 60 and 70 dBA are reached about half the time. To provide the Commission with some reference for these noise levels, a sewing machine operates around. 60 dBA, a washing machine around 70 dBA and an alarm clock at 2 feet is about 80 dBA .2 Front loaders, backhoes, tractors, concrete mixers, moveable cranes, generators and compressors operate in the 70-80dBA range.' The proposed garage will queue cars at its entrance, thus requiring, the overhead doors to be open, allowing the noise generated to not only escape the building, but to be funneled directly across the street toward the residential townhouses at 700 E. Hyman Street. Furthermore, since the report was based on the lift being operated without a car, we can only assume that the noise generated from this equipment when it is under full load (e.g. when 5-6000 pound SUV's are on the lift) can only be higher, not lower. Because this project will violate the Noise Ordinance, it cannot be approved. The Commission must deny this project. 2. The Traffic Report. The applicant has provided a traffic study from Felsburg Holt & Ullevig, dated August 28, 2003. The report indicates that Hyman Avenue experiences approximately 3,500 vehicles per day ("vpd") in the summer and 2300 vpd in the winter. The report measures the increase in projected traffic generated by the project and finds that the increase in traffic is not significant. However, the report does not analyze the impact on traffic flows due to the operational characteristics of the garage. Clearly, 3500 vpd is a lot of traffic. The garage will require both right and left turning movements for cars entering and exiting the facility. The report is silent on the effect of these turning movements on traffic flow. Cars heading west on Hyman, will need to make a left turn into the garage. When cars are already queued at the entrance, these vehicles will either wait until the entrance clears, or they will circle the block. In either case, traffic flows will be adversely affected. Similarly, vehicles traveling east on Hyman will have to make a right 'Levels of 75 dBA for outdoor activities and 65dBA for indoor activities are considered to generate "severe noise impacts" by the Federal Highway Administration. See: www.wsdot.wa. gov/regions/Northwest/rp&s/environmental/aae/policies.htm#anchor6 'American Tinnitis Association at www.ata.org 'Reitze, Environmental Law, Chapter Three B-19 City of Aspen Planning and Zoning Commission c/o Mr. Chris Bendon, Senior Planner City of Aspen Community Development Department September 11, 2003 Page 3 turn. The entrance is' close to the intersection and when cars are backed up at the entrance, these vehicles waiting to enter will block traffic coming on to Hyman Avenue.' The report attempts to evaluate queuing and states that the time required to park each car is 90 seconds 'from the time the vehicle drives onto the lift to the time the lift returns for the next vehicle. " However, this does not take into account the time it takes to unload people, skis, kids, etc., nor the time it takes to check in or to retrieve forgotten items. These activities are clearly part of the calculus of the time it takes a car to enter and clear the queuing area, but are totally ignored by the report. We estimate that these activities will take three to five minutes, depending on how busy the attendant is.. Thus, the total time is more like five_ to seven minutes per car, not 90 seconds. The report suggests that payment will occur on pick up, however, that takes time as well and when the four spaces needed for queuing vehicles entering are full, cars cannot leave. The report also assumes that 80% of the users will be members of the public, not owners of the spaces, and that they will be parking for long periods of time, thus reducing the number of operations and the traffic generation of the facility. The applicant has not proposed a method of assuring 80% public use, only that it will sell spaces for over one -hundred thousand dollars and try to allow for public use when those spaces are not being used. At those prices, we can confidently assume that the buyers are not going to sacrifice their ability to use the spaces whenever they want in order to gain a few dollars per hour of parking revenue from public use, which income, is likely to be exceeded by the cost of tax accounting for these meager sums. The notion of long term use of the facility is not supported by any facts. These assumptions of the report are critical to its analysis and are simply made up, having no reliable foundation. We have previously expressed grave concerns about the location of this garage near the intersection and its potential for grid -lock, snarling traffic and blocking turning movements. The report has not alleviated these concerns and its failure to account for the interference with existing traffic flows by turning movements, the actual time needed by each parking operation, unsupported assumptions about the composition of users and the length of parking stays, renders its conclusions erroneous. Thank you for your consideration of our concerns. Very truly yours, HERBERT S. KLEIN & ASSOCIATES, P.C. By: Hd ert S. Klein 700 E Hyman condo assn\bendcn-Lt4a.Nipd section I2 .04.U4U Use district noise levels. Page 1 of l_ Remove highlighting. Chapter 18.04 NOISE ABATEMENT*1 *2 Section 18.04.040 Use district noise levels. Maximum permissible sound levels. It shall be a violation of this chapter for any person to operate or permit to be operated any stationary source of sound in such a manner as to create a ninetieth percentile sound pressure level (L 90) of any measurement period (which shall not be less than ten (10) minutes unless otherwise provided in this chapter) which exceeds the limits set forth for the following receiving land use districts when measured at the boundary or at any point within the property affected by the noise: Use District Night � Day �10:00 p.m.--7:00 a.m. P:00 a.m.--10:00 pm. Residential � 50 dB(A) 55 dB(A) Lodge 55 dB(A) ][60 dB(A) Commercial 55 dB(A) il 65 dB(A) Industrial Not Applicable 80 dB(A) -� When a noise source can be identified and its noise measured in more than one use district, the limits of the most restrictive use shall apply at the boundaries between the land use categories. This provision shall not apply when the least restrictive use is a floating industrial district, in which case the limits applicable to the industrial district shall apply, notwithstanding the boundaries of the more restrictive uses, because of the temporary nature of the industrial use. If an area is zoned SPA, the use category will be determined by the predominant existing uses within that area. (Ord. No. 2-1981, § 1; Ord. No. 36-1989, § 1: Code 1971, § 16-4) http://wwuT.ordlink.com/cgi-bin/hilite.pl/codes/aspen/_OLD/Title_18/04/040.html?noise 9/4/2003 section 18.04.010 Declaration of policy. Page 1 of 1 Remove highlighting_ Chapter 18.04 NOISE ABATEMENT*1 *2 Section 18.04.010 Declaration of policy. The city council finds and declares that noise is a significant source of environmental pollution that represents a present and increasing threat to the public peace and to the health, safety and welfare of the residents of the City of Aspen and to its visitors. Noise has an adverse effect on the psychological and physiological well-being of persons, thus constituting a present danger to the economic and aesthetic well-being of the community. Accordingly, it is the policy of council to provide standards for permissible noise levels in various areas and manners and at various times and to prohibit noise in excess of those levels. (Ord. No. 2-1981, § 1: Code 1971, § 16-1) http://wvwv.ordlink.com/cgi-biii/hilite.pl/codes/aspen/ DATA/Title_18/04/010.html?noise 9/4/2003 section 1 Z5.U4.0 _/U l)eiminons anti sianaarcis. Page 3 of 4 that is exceeded ninety (90) percent of the time in any measurement period (such as the level that is exceeded for nine (9) minutes in a ten-minute period) and is denoted L90. (v) Person. Any human being, firm, association, organization, partnership, business, trust, corporation, company, contractor, supplier, installer, user, owner or operator, including any municipal corporation, state or federal government agency, district, and any officer or employee thereof. (w) Plainly audible noise. Any noise for which the information content of that noise is unambiguously transferred to the listener, such as, but not limited to, understanding of spoken speech, comprehension of whether a voice is raised or normal or comprehension of musical rhythms. (x) Premises. Shall mean any building, structure, land, utility or portion thereof, including all appurtenances, and shall include yards, lots,. courts, inner yards and real properties without buildings or improvements, owned or controlled by a person. (y) Property boundary. An imaginary line exterior to any enclosed structure, at the ground surface, and its vertical extension, which separates the real property owned by one person from that owned by another person and separates real property from the public premise, or in multiple dwelling units from the adjoining unit. (z) Public right-of-way. Any street, avenue, boulevard, highway, alley, mall or similar place which is owned or controlled by a public governmental entity. (aa) Pure tone. Any sound which can be distinctly heard as a single itch or a set of single pitches. For the purposes of measurement, a pure tone shall exist of the one-third octave band sound pressure level in the band when the tone. exceeds the arithmetic average of the sound pressure levels of the two (2) contiguous one-third octave bands by five (5) dB for frequencies of five hundred (500) Hz and above, by eight (8) dB for frequencies between one hundred sixty (160) and four hundred (400)Hz, and by fifteen (15) dB for frequencies less than or equal to one hundred twenty-five (125) Hz. (bb) Repetitive impulse noise. Any noise which is composed of impulsive noises that are repeated at sufficiently slow rates such that a sound level meter set at "fast" meter characteristics will show changes in sound pressure level greater than ten (10) dB(A). (cc) Residential district. An area zoned primarily for residential use as defined in Title 26 of the Aspen Municipal Code, including, but not Limited to, areas designated R-6, R-15, R-15A, R-15B, R-30, R/MF, MHP, RR, ®, A, C, P, PUB, and as such designations may be amended. (dd) Sound. A temporal and spatial oscillation in pressure, or other physical quantity, in a medium with interval forces that causes compression and rarefaction of that medium, and which propagates at finite speed to distance points. http://vrxw.ordlink.com/cgi-bin/hilite.pl/codes/aspen/_DATA/Title_I8/04/020.html?noise 9/4/2003 Section 26.425.040 Standards applicable to all conditional uses. Page 1 of 1 Remove highlighting Chapter 26.425 CONDITIONAL USES Section 26.425.040 Standards applicable to all conditional uses. When considering a development application for a conditional use, the Planning and Zoning Commission shall consider whether all of the following standards are met, as applicable. A. The conditional use is consistent with the purposes, goals, objectives and standards of the Aspen Area Community Plan, with the intent of the zone district in which it is proposed to be located, and complies with all other applicable requirements of this Title; and B. The conditional use is consistent and compatible with the character of the immediate vicinity of the parcel proposed for development and surrounding land uses, or enhances the mixture of complimentary uses and activities in the immediate vicinity of the parcel proposed for development; and C. The location, size, design and operating characteristics of the proposed conditional use minimizes adverse effects, including vi impa ts, impacts on pedestrian and vehicular circulation, parking, trash, service deliv , noise, V. ations and odor on surrounding properties; and �ti. D. There are adequate public facilities and services to serve the conditional use including but not limited to roads, potable water, sewer, solid waste, parks, police, fire protection, emergency medical services, hospital and medical services, drainage systems, and schools; and E. The applicant commits to supply affordable housing to meet the incremental need for increased employees generated by the conditional use; and The Community Development Director may recommend, and the Planning and Zoning Commission may impose such conditions on a conditional use that are necessary to maintain the integrity of the city' s zone districts and to ensure the conditional use complies with the purposes of the Aspen Area Community Plan, this Chapter, and this Title; is compatible with surrounding land uses; and is served by adequate public facilities. This includes, but is not limited to imposing conditions on size, bulk, location, open space, landscaping, buffering, lighting, signage, off-street parking and other similar design features, the construction of public facilities to serve the conditional use, and limitations on the operating characteristics, hours of operation, and duration of the conditional use. http://www.ordlink.comlcgi-binlhilite.pl/codes/aspen/ DATAITitle_2614251040.html?noise 9/4/2003 09/16/2003 14:31 17734862438 MIDAMERICAN ELEV PAGE 01 SpaceSave.r Parking Company" September 4, 2003 City of Aspen, Colorado Planning and. Zoning Board. 130 South. Gal.ea=a Street 3'' ,Fluor Aspen, Colorado 81611 Attn.: Ladies and Gentlemen of the Board Subject: 707 East Hyman. Ave. A utomated Char Parking System Dear, Ladies and Gentlemen, We have been asked to pros-zde inanpower requiremcnts rel.ativre to the operation of our automatic car parking systems. Most systrnns that we havo installod are being used by residents or employees. Whon tho users are permanent there is no need to have -attendants to operate tie system. At bust a person to contact for minor mis-operations or assistance in replacement oflot cards is all that is required to operate the facility. However, in Instanbul; Turkey we have .--stalled. a facility that is used priYnarily Py . transient parkers. This operation rewires cashiers and a.managear as there are cash transactions, lost card problems and in general some assistance to those not being familiar with this type of facility. Below is a table providing the an.anpower requirements for several automated par.king fa�i,lities_ Faci,l lylocation. Usage No. of Spaces No. of EsuacesJ.CmoIovee ' lsntaubul, Tuf ey Public 612 :5 122 Duisberg, germ —any Employees 90 Contact Person 90 8-mmnit Grand Parc Residents 74 Contact Person. 74 Nash.. D. C. 14anai-L Germany Employees 211 Contact Person 2.11 Wt.-in, Austria E1.11.ployees so Contact Person s0 MIDAMERICAN ELEV PAGE 02 I 1�7e I— DC;Orfallv arc I hopud thzd abuv.-.. Ird'urmadon is adtuquakc Etaaaswm .1 OLLI C" available to assist you with any further questions or Information, Sincerely Yours, Spacesaver Parr w;rto, Inc. e, I Lmngston' Cieneral Mau -cc: 7348 corrospnd-anoc FELSBURG H O L T &. ULLEVIG engineering paths to transportation solutions September 15, 2003 Mr. Stan Clauson, AICP, ALSA Stan Clauson Associates, LLC 200E. Main Street Aspen CO 81611 RE: Traffic Analysis Park Place Parking Garage FHU Reference No. 03-169 Dear Mr. Clauson: Felsburg Holt & Ullevig has prepared this letter to summarize the traffic impacts associated with the proposed 99-space Park Place Commercial Parking Facility (Park Place garage) to be located at 707 East Hyman Avenue in Aspen, Colorado. This letter summarizes the existing land use and traffic impacts associated with the small office building and parking area currently on the site, the existing traffic volumes on Hyman Avenue in the vicinity of the site, the number of trips forecasted for the proposed garage, and the traffic impacts to the adjacent streets associated with those trips. Existing Land Use Currently, the site consists of a 927 square foot A -frame office building and small surface parking lot that can accommodate approximately 15 vehicles. On a typical day, this lot is used to capacity. The Institute of Transportation Engineers (ITE) Trip Generation, Sixth Edition was used to forecast the existing daily and peak hour trips associated with the office building. The existing parking lot trips were estimated based on information provided by the City of Aspen for the Rio Grande Parking Garage. In that garage during peak times of the year, each space is used approximately 1.5 each day, with the peak demand occurring between 11 AM and 2 PM, which is outside of the morning and afternoon peak hours of adjacent street traffic (one hour between 7 and 9 AM and 4 and 6 PM). Since traffic impacts are typically measured during the peak hour of street traffic, it was estimated that approximately 15 percent of the total daily traffic would occur during those morning and afternoon peak periods. These characteristics were applied to the existing surface lot on the site. Table 1 shows the number of daily and peak hour trips currently associated with the site. As the table indicates, the existing land uses on the site generate approximately 85 daily trips, 12 AM peak hour trips, and 12 PM peak hour trips. 303.721.1440 fax 303.721.0832 fhu@fhueng.com Greenwood Corporate Plaza 7951 E. Maplewood Ave. Ste. 200 Greenwood Village, CO 80111 September 15, 2003 Mr. Stan Clauson _ Page 2 Table 1 Existing Trips Generated by the Site Land `Use SizePeak Hour, PM Peak Hour Trips Total :: Inbountl . ,:..Outbound Total -Inbound::: Outbound Office 927 SF 40 5 4 1 5 1 4 Parking Lot 15 Spaces 45 7 6 1 7 2 5 Total Trips 1 857 12 10 2 12 3 9 Existing Traffic Volumes Traffic volumes on East Hyman Avenue in the vicinity of the site were obtained from the City. Summer counts were conduced in 1997 and winter counts were conducted in 1994. These counts were factored to 2003 conditions based on the traffic growth factor calculated by the Colorado Department of Transportation (CDOT) for Original Street (SH 82) immediately east of the site. Based on this factor, Hyman Avenue currently experiences approximately 3,500 vehicles per day (vpd) in the summer and approximately 2,300 vpd during winter. The summer volume on Hyman is1,700 to 1,900 vpd lower than the summer volume on either Cooper Avenue (4,900 vpd) or Hopkins Avenue (4,700), one block north and south of the site, respectively, and is approximately 3,000 vpd lower than the volume on Durant Avenue (6,500 vpd), two blocks north of the site. All four streets appear to have similar mixes of commercial and residential land use. Thus, it appears that Hyman currently experiences traffic volumes that are somewhat lower that the typical volumes on other local streets in the downtown area. Proposed Land Use As proposed, the site would be developed as a 99-space garage, with two affordable housing units. The garage is consistent with the land use identified for the site in the Aspen/Pitkin County Transit/Transportation Development Program, 1986-2000 (Leigh, Scott & Cleary, 1986), which identified a 300-space parking garage for the site. To maximize space usage, a mechanical system would be used to park cars. Drivers would park their car on one of two mechanical lifts, exit the car, and the lift would move the car into an available spot. Table 2 summarizes the trip forecast with the proposed land uses. ITE Trip Generation, 61n edition was used to forecast trips associated with the affordable housing. As for the garage, based on our understanding of the operation, all of the garage spaces would be available for purchase or long-term rental by local residents. It was assumed that approximately 20 percent of the spaces would be used by part-time local residents to store their vehicles when out of town and thus would generally be unavailable for use on a daily basis. The remaining 80 percent (80 spaces) would be used on a daily basis by local residents, merchants, employees, and visitors. These daily spaces would be in a manner similar to the Rio Grande garage; i.e., each space used approximately 1.5 times each day, with approximately 15 percent of the daily demand occurring during the morning and afternoon peak hours of the adjacent streets. Based on these September 15, 2003 Mr. Stan Clauson Page 4 Queuing The estimated total time required to park each car using the lift system would be approximately 90 seconds (from the time the vehicle drives onto the lift to the time the lift returns for the next vehicle); thus, with two lifts a total of 80 vehicles could be parked each hour (3,600 seconds/hour / 90 seconds/vehicle * 2 lifts = 80 vehicles/hour). A waiting area with room for four vehicles would be provided on the site for vehicles entering the garage and waiting for the lift. To minimize queuing, these entering vehicles would be given priority with the lifts, and drivers would pay upon exiting. Based on projected peak period arrival rates and the lift processing time, during the morning and evening peak hours of adjacent street traffic the maximum queue at the lifts would be two vehicles, which would be contained within the four -car storage area. During the busiest hour of the day (mid -day peak) during the busiest time of year, it is estimated that a maximum of half of the daily spaces (40 spaces) would turn -over (40 trips in, 40 trips out). During these periods, the maximum queue would be 4 vehicles, which also would be contained within the site. Conclusions Based on the results of the analysis, the proposed Park Place garage would generate approximately 165 net daily trips from the site. This represents a five percent increase over existing daily traffic volumes on that block of Hyman Avenue, but still would result in total daily traffic volumes there that are significantly lower than the adjacent local streets. The garage could also result in a lowering of overall downtown Aspen traffic by reducing the number of vehicles circulating for on -street parking spaces. Peak period queuing by vehicles entering the site would be contained within the waiting area provided on site. I trust this information is sufficient for you to make an informed decision on traffic impacts associated with the project. If you have any further questions, please call. Sincerely FELSBUR ULLEi/IG e earn,P.E. Senior Transportation Engineer September 15, 2003 Mr. Stan Clauson Page 3 assumptions, the proposed land uses would generate approximately 250 daily trips, 37 AM peak hour trips, and 37 PM peak hour trips. Table 2 Proposed Park Place Trip Generation Land Use -,Size Daily AM:Peak Hour PM Peak Hour P Total; :Inbound Outbound :: Totaf Inbound : =Outbound Affordable Housing 2 Units 10 1 0 1 1 1 0 Parking Lot 80 Spaces 240 36 29 7 36 11 25 Total Trips 1 250 37 29 8 37 12 j 25 Traffic Impacts Table 3 summarizes the net trips generated by construction of the Park Place Garage. These trips represent the trips generated by the garage, minus the existing trips from the site. The total represents the new trips that would be added to Hyman Street. However, it should be noted that these trips are not new trips to the downtown Aspen area, but rather represent existing traffic that currently uses other parking locations. In fact, construction of the garage may result in a minor reduction in overall traffic in the downtown area, because some of the vehicles that would use the garage currently circle the area in search of on -street parking. With the new facility, these vehicles would drive directly to the lot and be removed from circulation. Table 3 Net Trip Generation from the Park Place Site Land Use° = AM' Peak:_ Hour = PM Peak Hour Trips' Total :' Inbound` ° Outbou'nd Total =Inbound Ou#bound -` Proposed Park Place Garage 250 37 29 8 37 12 25 Existing Site Land Uses 85 12 10 2 12 3 9 Net Total Trips 165 L25 19 6 25 9 19 As the table indicates, Hyman Street in the vicinity of the site would experience approximately 165 additional daily trips as a result of the Park Place Garage. This represents a five percent increase over the existing daily traffic volume on that block. The total daily traffic volume of 3,665 vpd on Hyman Street would still be approximately 1,235 vpd less than the daily volume on Cooper Avenue and 1,035 vpd less than the daily volume on Hopkins Avenue, one block north and south of the site, respectively. Therefore, the parking garage would not change Hyman Street's character as a lower volume local street in downtown Aspen. Operations Prospectus Perk Place Parking Facility 707 Hyman Avenue Overview Parking in the core area of Aspen can be difficult and frustrating at times; sometimes it is downright impossible. Part-time residents and locals living on the outskirts of town or in more rural regions need to have available parking for many of their day-to-day needs. Particularly for visitors and part -tune residents, commuting by public transit is not a satisfactory solution, because ofthe need to carry equipment or supplies. However, on - street parking is limited and the public parking facilities are frequently full during the mid -day hours. The private parking lots that do exist are unavailable to visitors, even when there are empty spaces, because these lots are not actively attended and managed. Park Place will be a unique facility in Aspen, one that provides covered valet parking for owners, along with the opportunity to have an income producing space during times that their personal use is not needed. Since this is "come and get if' type renting, owners can put their lots on and off the rental pool With'little notice. The spaces will be condominiumized in order for owners to hold equity and not simply spend money on parking. There is every expectation that they will gain in value, since they will earn income. This income may increase over time with parking fee increases and increased demand. The following information is intended to assist in reviewing the operational characteristics, as well as the community value inherent in providing this facility. Components of the Facility The proposed design provides for 99 parking spaces, an office of approx. 470 square feet, and two employee -housing units. The office space on ground level is intended* for management of the facility, providing a waiting space while cares are delivered, handling payment, etc. The employee housing units will fully mitigate for any employee generation and provide for 24-hour on -site supervision of the facility. Use of Spaces Although many of the spaces will be purchased for the convenience of owners, it is apparent that no owner will be in residence 100% of the time. During periods of vacancy by owners, a plan will be implemented towards income production for .each owner. Operations Prospectus Page 2 This will be addressed in the owner's covenants, but in order to have as many spaces serve the public as possible, an owner will generally be required to lease the space when. not using the facility. The implementation of this plan will involve a computerized inventory system. Under this System, the owner's vehicle will be scanned with a bar code in order to maintain location of inventory for arrival and departure. If an owner's vehicle has not been scanned in for 3 calendar days, their space will automically be entered into the public parking pool. Since the facility provides on -demand usage, spaces can be taken from inventory easily in order to accommodate owners who did not anticipate their need prior to their arrival. However, the requirement is placed on the .owner to reserve their use and the system makes it available all other tunes. It is also important to note that the management intends to retain 19 spaces which will be for public use all of the time. This reserve will ensure that the garage will serve a public parking function. The plan calls for the system to act as a daily public parking facility, with the emphasis placed on all day parking. The parking scheme will encourage patrons to park their cars for longer periods (6 — 8 hours), as there will be a descending hourly rate. During the shoulder seasons, the plan is to sell" single parks in order to encourage persons to park and Ieave it all day, i.e., come in the morning and leave it till the end of the day for one price so long as they exit only once. Longer rentals such as weekly and monthly will not be permitted since it could end up as simply a holding area for cars and it is conceivable that all 80 space owners could come on any particular day limiting public usage. Hours of operation should be sufficient to service all guests/owners. However, when demand is not sufficient to staff the facility, it will' be closed. By observing activities on the streets, management anticipates closing between the hours of 1:00 a.m. and 7:00 a.m. Hours may be more limited during lower season times but should never extend past these hours of operation during high season. Owners and users will be required to anticipate closures in order to use their vehicles. Parkine Types The different types of parking available to the public should include the following: • Hourly. There will be an hourly price schedule, although this is not the most desirable method for Park Place. It will' be more than double than the street parking for the first 2 — 3 hours to discourage such usage. Hourly rates will be descending over time in order to encourage users to take advantage of longer stays. (I..e., 6 — 8 hour periods.) • Daily. Daily rates for parking will be the preferred method of usage. Examples of this include day skier parking, day business parking, and night dining/shopping parking. The descending rate over time for parking facilitates this. Operations Prospectus Page 3 • Off-season. During times of low and off seasons, the intent of management is to offer an opportunity to purchase a one-time park for the day. It will mirror downtown rates for leaving a car on the street all day and allow one entry and exit for a fixed price of up to I l hours or from 7:00 am till 6:00 pm.' This takes those persons off the street who are not accommodated by a 4-hour time limit and who do not have to use their car during the course of the day. It should also assist in reducing parking in the close -in residential areas to avoid paid parking areas in the core. Owners Association As soon as a specific number of spaces were sold, there would be an association created for owners who would pay a quarterly fee for building maintenance and other necessary expenses. It is expected the fee will be low and easily offset by providing the space to: the rental market .even just occasionally. It is possible that some buyers would buy multiple spaces finding the return on investment to be competitive or exceeding current yields on other investments. Management of building by the development group At the time of sale of the spaces, all sales contracts wiII include a provision that any rental of spaces would occur through the management company created to handle this business. it is expected that fees in the range of 25% of income would be appropriate. Further, the purchase contracts will include a provision that the management company would also handle all subsequent sales and determine an appropriate fee. This insures that after initial sales have completed, the development group continues to have a role in the on -going success of the project. The vast majority of the costs associated with the structure such as parking attendants, utilities, etc. will be covered by the association fee. The 30% fee will have very little expenses associated with it. One on -site manager collecting fees and directing parking attendants and some accounting would be the only .costs associated. With an office space in the building and guaranteed continuing revenues, this business would also be saleable for the development group. Replacement of the development group It is possible that at some point in time the current development group principals may choose to vacate their interest in the parking operation. At such time; the management entity may be purchased by others or a substitute entity set up to take over the affairs and management of the parking facility. Any conditions imposed relative to the operation of Operations Prospectus Page 4 the facility would be assumed by subsequent owners of the management group or by subsequent management -companies, ensuring the continuing appropriate operation of the facility for its private owners and the public benefit. Potential Investors and Users For any investor who may be interested in spaces purely from the prospective of return on investment, it would be necessary to make some assumptions on who and how the entire space is utilized in order to estimate returns to investors based on the predicted parking revenues annually. First, there will be a percentage of the spaces sold to individuals who will use those spaces full time and will not be participating in any parking revenues. It is anticipated that 20 or so spaces will be utilized in such fashion. Next there will a percentage that will purchase for personal convenience when in town. These spaces will be part of the rental pool when their owners are not in residence in Aspen. These owners will tend to be in Aspen during high seasons and therefore not participate in rental income during the highest seasons and heaviest parking times. It is expected that 40 or so purchasers will buy under this assumption. Finally, there will be the investoribuyer. Not using the space, always in the rental pool and looking to maximize their annual gross. I anticipate selling those remaining 40, less any retained by the development group in this fashion. Although all these numbers are estimates since this style parking system has never been used in such a way, it is assumed that the 40 space owners with part time income will collect 1/3 of the expected annual revenues and the full time renters will earn 2/3 of the annual revenues.