Ann Arbor On-Street Parking Space Removal: $45K+
Removal of an on-street metered parking space will cost developers in Ann Arbor more than $45,000 per space as a result of a policy approved by the city council at its Jan. 6, 2014 meeting. The payment would go to the Ann Arbor Downtown Development Authority, because the DDA manages the public parking system under a contract with the city.
Added at 11:07 p.m. after initial publication: An amendment to the policy made during the Jan. 6 meeting requires added payment to compensate for the projected revenue over the next 10 years, generated by the space to be eliminated. For an average space that would work out to around $20,000 in addition to the $45,000.
A further amendment to the policy made … [Full Story]