Item 16. PARKING STRUCTURE OPTIONS Proposal regarding seven possible sites in the City for the addition of a public parking structure and funding options.
(1) Receive the attached presentation and provide any comments to staff regarding specific sites and future parking structure options and strategies;
(2) Adopt parking structure evaluation criteria;
(3) Direct the City Manager to pursue/further analyze and evaluate parking structures at the top four ranked locations (777 Laguna Canyon Road, 331-397 North Coast Highway, 696 South Coast Highway, 361-363 Third Street);
(4) Adopt a financial policy to allow issuance of debt, serviced by existing and future parking revenues; and
(5) Reserve up to $6 million of parking fund balance for investing in any or all of the feasible public parking structure concepts.