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Waverley Borough Council Committee System - Committee Document

Meeting of the Executive held on 25/05/2004
Financial Implications



EAST STREET REGENERATION - PUBLIC PARKING PROVISION
FINANCIAL IMPLICATIONS

The regenerated East Street area is expected to become as vibrant as Farnham Town Centre and it may be considered appropriate to classify the new car park as a premium car park (with the same tariffs as Central Car Park). Therefore, the financial model shows the effect of this option as well as the standard short-stay charges applying from 1st December 2003.

Car Park
No. of spaces
Annual Income
Average Income per Space
Dogflud
- Pay and Display
138.000
- Season Tickets
32,000
- Contract
12,500
Dogflud Total
228
182,500
800
South Street
224
162,000
723
Total affected by East Street Regeneration
452
344,500
Central (to show income per space)
272
340,000
1,250
No of Spaces
Standard Tariff
Premium Tariff
New East Street Car Park
400
800*
1,250*
- Estimated Income
320,000
500,000
Less Existing Car Parks
344,500
344,500
Potential Reduction
23,500
Potential Increase
155,500
* per space