Present.

Trusty McCarthy Lang as a trustee Nelvi.

Present.

Trustee Torres.

Present.

All right.

First up, we will open the public forum.

I do not have any green slips, so if anyone wishes to uh address the public, please feel free to come forward now.

Seeing nobody, we will close the public forum and move on to new business.

Uh under uh new business, we have item F1.

And that is Rod.

Thank you.

Uh tonight we want to provide an overview of the downtown parking deck.

As you aware, the village currently owns and operates a two-level parking structure that's part of the reserve of Hudson Crossing South building.

The structure contains 159 parking spaces on the upper level and 180 spaces on the lower level.

That's 339 spaces total.

Um the usage of the deck, the deck provides free parking for residents and visitors to the downtown from 5 a.m.

to 2 a.m.

Overnight parking is allowed between 2 and 5 a.m.

if users have a parking pass.

There are two kinds of parking passes.

One is limited to residents of the downtown area, which is the reserve building and the commer uh residential apartments above the commercial on Main Street.

They can buy overnight parking permits typically for a month or multiple month basis.

The second option is a daily permit people can buy if they are visiting someone who lives in the downtown area or if they just need to park their car there overnight.

Uh that's a five dollar a day permit.

Uh the village has been asked several times if we can reserve certain areas of the parking deck for the residents of the downtown.

The short answer is no.

Uh the TIFF Act basically says that TIFF funds can be used for public improvements.

And if we identify a specific area for the residents, that would be could be considered uh private improvement, so that would not be eligible for the TIFF funds that we have spent on the project.

So we cannot do that.

The current permit process allows them to park overnight, but it's not a specific area or parking space that they're not being reserved, so we can still consider that as a public improvement, so we can do that.

Uh just touching base on deck capacity.

Uh the deck, as we stated before, deck contains 339 parking spaces.

The village conducts an annual parking downtown parking survey in the summer.

Uh from the 2024 season analysis, the day showed the average usage of the deck was 32% occupied.

The map the peak occupied occupancy was 37% at 7 p.m.

Uh touching base on estimated operational costs.

The parking deck is part of overall Hudson Crossing Building.

The village and Shodin split the cost of operating the deck based on whose responsibility or what particular item it is.

We have uh conditions, restriction, and easement agreement with Shodine that kind of outlines who pays for what uh turn my page here.

For example, the village is responsible for 25% of 25% of the stairwells.

Uh we also have 25% of the elevators.

We handle one of the elevators, they handle the other three.

Uh 40% of the exterior, 20% of the fire and water room maintenance on such as that.

Uh to estimate the village to estimate what the village's long-term cost could be.

We did a survey other municipal decks.

We looked at Naperville, Aurora, Geneva, and Libertyville.

The big question is how do we handle the big ticket items, say a resurfacing or a structural repair?

After reviewing what we got from the those neighboring communities, we came up with a target of about 100,000 dollars in fees to set up an escrow account.

So in the long term, some of the something would occur, we'd have funds available to repair those items.

And so all the revenues we get goes into this parking escrow account.

And the fee specifically, the village has a park parking licensing agreement with Shodine that states that the village will issue a minimum of 185 parking spaces, parking overnight parking permits.

The village can increase that number, but we cannot, if we want to, but we can't go below 185.

The village also can set the cost of the permits, but there's a maximum amount of a thousand dollars annually or eighty-three dollars a month from when we started the agreement, which is in 2021.

We are allowed to do a 5% increase or CPI, whichever is less each year.

Uh, we have not done that since we started this program in 2021.

So when we started this, we established a fee of $50 a month for permit.

If a resident wanted a second permit, we charge $83.

There's a couple of reasons why the second permits more.

First of all, we only have 185 permits.