year. Thus, it is possible for different land uses to pool their parking resources to take advantage of different peak use tim es. Demand Strategies Dem and strategies generally seek to lim it or influe nce the use of available parking spaces through a variety of pricing techniques. Am ong the m any techniques that can be considered in Medford are: • Institute Parking Fees – Parking fees im posed on developers for each parking space are an indirect way of reducing the am ount of parki ng provided by new developm ents. Fees can be levied on the developer, the tenant, or the end-user. • Time-Based Pricing – Set parking fees at rates that discourage long-term parking to encourage ridesharing or the use of alternative travel m odes. • Modify/Cash Out Employer Parking Subsidies – Many employers currently subsidize parking either by providing it for fee on-site or by subsidizing off street spaces for their em ployees. Under this option, em ployers can either reduce or elim inate the parking subsidy or can offer all employees the subsidy in cash. • On-Street Pricing – This strategy would require m eters or perm its for on-street parking. Meter rates can be set to increase over tim e that beco me progressively more expensive the longer the vehicle rem ains parked. This can be effectiv e in retail areas where businesses want short-term parking spaces available for custom ers. The per ceived negative effect of pay parking on retail custom ers can be offset by providing a short period of free parking (e.g., 15 or 20 m inutes) that is incorporated into the m eter but m ust be actuated by the parking m otorist. Table 12-1 summarizes a variety of parking m anagem ent strategies and indicates the relative range of effectiveness of each in reducing parking dem and. Table 12-1 Typical Parking Demand Reductions Associated with Various Management Strategies Parking Management Strategy Description Parking Demand Reduction Shared Parking Share parking facilities among a group of users rather than assigning each an individual space 15-40% More accurate requirements Reduce minimum parking requirements at sites with lower parking demand 10-30% Trade-off with TDM strategies Reduce par king requirements at facilities with TDM programs 10-30% Parking Pricing Avoid discounts for long-term leases Charge motorists for using parking facilities using cost recovery prices 10-30% Favor Short-Term Use Varies Cashing Out Provide the cash equivalent of free parking to commuters who use alternative modes 10-30% Unbundle Parking Rent and sell parking facilities separately, rather than automatically including with housing and commercial leases and purchases. Varies Location Efficient Development and Mortgages Design and manage development at more accessible locations to encourage use of alternative modes 20-50% Medford Transportatio n System Plan 12-4 Parking M anagement

Transportation System Plan 2018-2038