The June 13 2023 Parking and Transportation Demand Management Plan addresses nine parking structures G-O (Table 2 page 67), the Present Value of all parking structures current and previously proposed are Projects G thru Q shown in this chart. The total cost of all the projects is $326,000,000 for roughly 1700 added spaces, that's $192,000 per added space. What logic suggests parking a visitor Toyota in a $192,000 space?
The costs in these estimates include:
- Construction Costs
- Land Cost (were applicable)
- Opportunity Costs
- In-Lieu Fees
- Debt Service
- Operation and Maintenance
- Demolition and Salvage
The costs NOT included in these estimates are:
- Bond Premiums
- Soil Remediation
- Parking Enforcement,
- Environment (quakes, floods)
- Depreciation
- Inflation and Taxes
Given Laguna residents are already obligated for $500 Million in debt for undergrounding power utilities, all these projects are due approval by public vote.
Let Laguna VOTE!
-LS
No comments:
Post a Comment