PARKING ASSET MANAGEMENT

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PARKING ASSET MANAGEMENT TEXAS PARKING
ASSOCIATION Jim Moran, Managing Principal Jake
Jeppesen, Principal March, 2002
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RESPONSIBILITIES
?Meter Repair/Maintenance ?Personnel Management
?Signage ?Parking Ticket Reference
?Complaints/Suggestions ?Planning ?Fleet
Maintenance ?Administration ?Shuttle
Program ?Surface Parking ?Structured Parking
?Renovations ?New Construction ?Purchasing
?Enforcement ?Overnight Parking ?On Street
Parking ?Off Street Parking ?Monthly
Parking ?Snow Removal ?Maintenance ?Collections
?Budgeting ?Development
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DEMANDS
?Neighborhood Groups ?Economic Development
?Developers ?Chamber of Commerce ?Special
Events ?City Departments ?Visitors ?Shoppers
?Residents ?New Businesses ?Mandates ?City
Council ?CBD Retailers ?Downtown Employees ?Yet
to be heard from
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FACTORS

• Conditions
• Priorities
• Money
• Time

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?Meter Repair/Maintenance ?Personnel Management
?Parking Ticket Reference ?Administration
?Shuttle Program ?Surface Parking ?Structured
Parking ?Signage ?Complaints/Suggestions
?Planning ?Fleet Maintenance ?Renovations
?New Construction ?Purchasing
?Enforcement ?Overnight Parking ?On Street
Parking ?Off Street Parking ?Monthly Parking
?Snow Removal ?Maintenance ?Collections
?Budgeting ?Development
Responsibilities
?Neighborhood Groups ?Economic Development
?Developers ?Chamber of Commerce ?City
Departments ?Visitors ?Shoppers ?Residents
?Special Events ?New Businesses ?Mandates
?City Council ?CBD Retailers ?Downtown
Employees ?Yet to be heard from
Demands

• Conditions
• Priorities
• Money
• Time

Factors
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?Structured Parking ?Renovations ?Planning
?Budgeting ?Maintenance
Responsibilities
?Neighborhood Groups ?Economic Development
?Developers ?Chamber of Commerce ?City
Departments ?Visitors ?Shoppers ?Residents
?Special Events ?New Businesses ?Mandates
?City Council ?CBD Retailers ?Downtown
Employees ?Yet to be heard from
Demands

• Conditions
• Priorities
• Money
• Time

Factors
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STRUCTURED PARKING

• Do I have a problem? (or, how bad is it?)
• How can I fix it?
• How much will it cost?
• What should I fix first?
• How do I survive construction?
• Can I survive deferring maintenance for another
  year? (and another, and another?)

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USED TO BE

• Traditional budgeting on annual basis
• Problems dealt with by engineering report

The engineering report gave you - Quantities -
Repair options - Opinion of construction -
Big Headache
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USED TO BE
REACTIVE APPROACH
Leads to Deferred Maintenance
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DEFINITION
Deferred Maintenance
An action that when taken regularly, enables
superiors with ample opportunities to make your
life miserable. In extreme cases, can cause
unwanted interruption to your career.
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PARKING STRUCTURE DETERIORATION CURVE
DETERIORATION / REPAIR COSTS
TIME (YEARS)
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PARKING STRUCTURE DETERIORATION CURVE
Structural Failure
Demolish Structure
DETERIORATION / REPAIR COSTS
Accelerated Deterioration
Normal Deterioration
TIME (YEARS)
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NOWADAYS

• Traditional budgeting on annual basis
• Problems dealt with by engineering report

• More sophisticated management
• Higher demand for accountability
• Legal mandates coming (GASB)

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NOWADAYS
Greater sophistication, increased demands for
accountability and, in some cases, legal mandates
require a proactive approach.
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ASSET MANAGEMENT PLAN
In todays times, parking system managers need an
effective planning and budgeting tool to properly
manage the repair and maintenance of their
structured parking assets.
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ASSET MANAGEMENT PLAN
A parking structure asset management plan has
four elements

• Evaluation
• Immediate response
• Programming
• Program continuity

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EVALUATION
Need to gain answers to key questions

• What is the current condition of each parking
  structure?
• Will the structures role/use change in the near
  future?
• How long must each structure remain open?
• What repairs must be performed immediately for
  public safety?
• Which structure(s) need attention and in what
  order?
• For long-term structures, which repairs will
  maximize service life?

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KEY QUESTIONS Continued

• For short-term structures, which minimal repairs
  ensure safety?
• What structural maintenance should occur and how
  frequently?
• What are the long-term (usually 10 years)
  probable costs of each structures
  maintenance/repair?
• Should upgrades (lighting, ventilation, ADA,
  functional, Parking Access and Revenue Control,
  etc.) be implemented in any structure?

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EVALUATION
A comprehensive understanding of each parking
structures conditions and service objectives
provides the baseline for the asset management
plan.
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IMMEDIATE RESPONSE
Identify and respond to public safety issues
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PROGRAMMING

• Budget and schedule constraints
• Service objectives and useful service life
• Repair alternatives
• Life cycle costs
• Planning horizon (usually 10 years)

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PROGRAM CONTINUITY

• Periodic evaluations
• Tracking necessary deferred maintenance/repairs
• Track and monitor performance of repairs
• Update program regularly

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ASSET MANAGEMENT PLAN
This approach provides you with an effective
planning and budgeting tool to properly manage
the repair and maintenance of your structured
parking assets
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ASSET MANAGEMENT PLAN
Using this approach will

• Provide you with more efficient planning and
  budgeting control
• Enable you to better anticipate and plan for
  structural repairs and operational maintenance
• Allow you to maximize the impact of your
  available repair and maintenance budgets
• Enable you to better plan for parking structure
  upgrades

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ASSET MANAGEMENT PLAN

• Provide you with accurate records of past
  repairs, quick financial projections for future
  repairs and maintenance, and reliable support
  information for funding requests
• Enhance your overall master planning capabilities
• Maximize the useful service life of your parking
  structures
• Help you better plan the needed service life of
  each parking structure using the minimum amount
  of capital

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ASSET MANAGEMENT PLAN
Benefits include

• Eliminating financial surprises
• Eliminating operational surprises
• Meeting mandated asset management requirements
• Reducing downtime (lesser impact to revenues)
• Stronger position to compete for limited
• Steady capture of program (long-term)
• Provides program continuity

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ASSET MANAGEMENT PLAN

• Personal benefits include being viewed as
  responsible, effective, knowledgeable, and in
  control.

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QUESTIONS