The 10 January 2023 Agenda Report prepared by the LB Parking Master Plan Subcommittee calls for embellishing eighteen parking lots and constructing eleven new parking structures . Table-2 of this report gives a summary of the parking structures labeled Projects H-R, their street locations in Laguna Beach, the number of parking spaces added and the capital cost of construction. Assuming 30-year financing and 40-year life the chart shows the minimum hourly parking rate necessary to breakeven with the amortized costs over the 40-year structure life.
The analysis considers costs of construction, debt service, demolition, salvage, in-lieu parking fees, maintenance and other costs in the amortization over the structure lifetime. Not included: parking enforcement, opportunity costs, environment factors (quakes, floods), depreciation, inflation and taxes (if applicable). These results are preliminary and may be updated as project information is made available. In the chart the Presbyterian Church parking structure is labeled Project M: 355 Third St.
-LS
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