Parking Revenue Model ? an Informational Report
N Deshpande, Jacobs, US; E Stevens, Regional Transportation District Denver, US
Revenue Model ? An Informational Report
Denver, Colorado is the eleventh most congested city in the United States. In addition, in the next 20 years more than one million people will move to the Denver metro area. To handle the growing transportation needs, the Regional Transportation District (RTD) has developed a 12-year comprehensive plan (known as FasTracks) to build and operate rail lines, expand and improve bus service, and almost double the capacity of Park-and-Rides facilities throughout the region.
Currently, there are over 27,000 parking spaces at 78 park-n-Rides available for transit patrons, which are expected to grow to 48,000 parking spaces at over 100 park-n-Rides with the FasTracks plan by the year 2030. A Parking Management program will then be required to preserve the parking capacity and also effectively manage the parking spaces by instituting a fee policy for transit patrons.
A Parking Revenue Model was developed as a part of the Parking Management programme to determine the estimated annual revenue if the fee policy is implemented in future. However, it should be noted that generation of revenue is not the purpose of the Parking Management Program. This paper will outline a general process of developing the parking revenue model in the US context, identifying the key issues considered and discussing the challenges faced in developing the model. An overview of the model?s functional structure will also be presented.
The paper will also discuss the policy implementation assumptions, and numerous variables used in the model such as: percentage split of resident and non-resident patrons and extended stay travellers, parking fees for different user types, parking capacity utilization, and the use of historic survey data to determine the appropriate input values for different variables used in the model.
This paper will serve as an informational report for other US regional transit agencies in planning and developing parking revenue models and similarly structured transport authorities in Europe.
Association for European Transport