C7AI - Implement Parking Holiday

Resolutions - C7 AI

COMMISSION MEMORANDUM

RECOMMENDATION

The City Administration (“Administration”) recommends that the Mayor and City Commission (“City Commission”) adopt the Resolution.

BACKGROUND/HISTORY

At the February 3, 2025, City Commission meeting, at the request of Commissioner Alex Fernandez, the City Commission referred an agenda item (C4 AK) to the Finance and Economic Resiliency Committee (“FERC or Committee) to discuss the possibility of implementing a parking holiday during slower months of the year.

At the May 7, 2025, FERC meeting, the Administration presented this item (Attachment A) and, during the discussion, the Parking Department staff provided input on operational considerations and proposed two alternatives: 1) Discounted Rates with Proof of Purchase; 2) Promotional Codes through Mobile Apps. Following discussion, the Committee issued a favorable recommendation for Option 2 – Promotional Codes through Mobile Applications.

ANALYSIS

The goal of implementing a parking holiday program is to enhance economic activity during slower months by incentivizing visits to local businesses through modified parking discounts. Due to existing bond covenants, the Parking Department cannot directly waive parking fees and, therefore, proposed alternative options that meet the intent of supporting local commerce without violating fiscal obligations.

The Committee endorsed Option 2, providing after the fact promotional codes through mobile apps.

FISCAL IMPACT STATEMENT

During the last calendar year, July and August experienced approximately 700,000 paid parking sessions, generating approximately $2.8 million in revenue. Assuming participation rates between 10% and 50% at a discount rate of 50%, the estimated loss of parking revenue would range from approximately $140,000 to $1.4 million.

Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY)

If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/

FINANCIAL INFORMATION

N/A

CONCLUSION

The proposed Parking Holiday initiative represents an effort to stimulate local economic activity during traditionally slower months by offering parking incentives. By utilizing after the fact promotional codes through existing mobile applications, the City can provide a modest level of support to local businesses while maintaining compliance with fiscal constraints.

The Administration recommends that the City Commission adopt the subject Resolution in alignment with the Committee’s recommendation.

Applicable Area

Citywide

Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No

If so, specify the name of lobbyist(s) and principal(s):

Department

Parking

Sponsor(s)

Commissioner Alex Fernandez

Co-sponsor(s)

Condensed Title

Implementation of a Parking Holiday. (Fernandez) PK

Previous Action (For City Clerk Use Only)