CITY OF INTER-DEPARTMENTAL MEMORANDUM

Date: November 29,2016

To: The Honorable City Council c/o City Clerk, Room 395, City Hall Attention: Honorable Mike Bonin, Chair, Transportation Committee

From: Seleta J. Reynolc^feneral Manager Department of Transportation

Subject: CHANGE IN PRICING STRUCTURE FOR THE HOLLYWOOD AND HIGHLAND PARKING FACILITY (MUNICIPAL PARKING LOT #745)

SUMMARY

The Los Angeles Department of Transportation (LADOT) proposes new parking rates and pricing structure for the Hollywood and Highland ("H&H") Parking Facility for the next five years beginning calendar year 2017.

RECOMMENDATIONS

That the City Council, subject to the approval of the Mayor:

1. APPROVE and AUTHORIZE, LADOT to change the pricing structure and to implement the new parking rates for H&H as set forth in Attachment 2.

2. DIRECT and AUTHORIZE the LADOT to commission a new parking study in four years to re­ evaluate the pricing structure of H&H Parking Facility to ensure that the parking rate is competitive and flexible with competing parking facilities within the Hollywood area.

BACKGROUND

The H&H Parking Facility (Municipal Parking Lot #745), located at 6801 Hollywood Boulevard, is part of a complex partnership between the City of Los Angles, through the former Community Redevelopment Agency (CRA), the Los Angeles County Metropolitan Transportation Authority (Metro), the Trizechahn Hollywood LLC, and the Trizechahn Hollywood Hotel LLC.

LADOT is responsible for operating the parking structure 24 hours/7 days a week. It provides on-site parking of over 3,000 spaces for the H&H Center's retail, hotel and theater services and supplies daily and monthly parking to many merchants, employees and residents of the area. The H&H Center is a destination for many visitors as it houses the Dolby Theatre and the TCL Chinese Theatre, and provides parking for the El Capitan Theatre and several attractions nearby.

The original rates were set relatively high and in combination with an economic downturn following the events of September 11, 2001. This resulted in an underutilized garage. Between May 2002 and June Honorable City Council 2 November 29, 2016

2003, rates were adjusted to allow monthly parking for residents living on Orange Drive, Sycamore Avenue and Orchid Avenue between Hollywood Boulevard and Franklin Avenue. Rates were also adjusted to set the incremental parking rate and to allow transient parkers a $2.00 reduced parking rate for the first four hours in the structure with validation. In May 2011, the City Council and Mayor approved the change in H&H's parking rate structure that modified the transient parking rate to $2.00 for two hours with validation for retail and dining patrons, but retained the $2.00 for four hours for cinema visitors with validation.

DISCUSSION

At the request of LADOT and as commissioned by the City Council and Mayor per CF 11-0733, LADOT's parking operator, SP Plus Municipal Services, hired Walker Parking Consultants (Walker) to evaluate the current parking rate structure at H&H and provide rate recommendations for the next five calendar years. Walker surveyed 17 public and private parking facilities with approximately 2,100 spaces within 0.4 miles of H&H and reviewed parking rates for other entertainment centers similar to H&H (e.g. The Grove, Americana, , etc.). For all categories, the study recommended a gradual increase in rates and valet surcharge to ensure that the needs of the business patrons, nearby and on-site businesses, and the monthly and residential are met while maintaining a reasonable cost. A copy of the Walker Parking Consultants' Memorandum is attached to this report as Attachment 1.

Walker recommends raising the price of validated short-term parking from $2.00 to $3.00 starting January 2018. The Walker report revealed that offering a validated rate program is consistent with other entertainment centers. However, the City subsidized the costs of offering reduced parking charges with validations. Currently without validation, a parking patron would have to pay $8.00 for two hours of parking.

The Walker study found that the rates at the Hollywood and Highland Facility were on the low end of the market range for daily and weekend rates charged, and was $5.00 less than the other nearby facilities offering late night "flat" rates. Therefore, Walker recommends increasing the daily maximum rate and late night "flat" rates by $3.00 over the next five years. Furthermore, it recommends increasing the surcharge for valet services $2.00 over the next five years and recommends small increases in the monthly parking rate.

Eight of the 17 facilities surveyed near H&H do not offer an incremental rate and instead offer a daily flat rate ranging from $10.00 to $20.00. This practice in the parking industry "has the effect of discouraging patrons seeking short-term parking." Other facilities, including the H&H offer an incremental rate. Walker recommends charging the incremental rate of $2.00 for every 20 minutes till calendar year 2021.

FISCAL IMPACT STATEMENT

The change in rate structure will not impact the General Fund since revenues and expenditures for this facility are credited to or are charged against the Special Parking Revenue Fund (SPRF).

SJR:JK:KH:RS:NB:tm

Attachments ATTACHMENT 1

MEMORANDUM WALKER PARKING CONSULTANTS HOLLYWOOD AND HIGHLAND RATE SURVEY

PAGE 1 606 South Olive Street, Suite 1100 Los Angeles, CA 90014 DATE: November 4, 2016 Office: 213.488.4911 TO: Nancy Bower Fax: 213.488.4983 www.walkerparking.com COMPANY: Los Angeles Department of Transportation

CC: Louis Flokas

FROM: Jonathan Wicks

PROJECT NAME: Hollywood and Highland 2016 Rate Analysis

PROJECT NUMBER: 37-8649.00

SUBJECT: Parking Rate Survey

PROJECT UNDERSTANDING

In 2010, the Parking Facilities Division of LADOT engaged Walker Parking Consultants (Walker) to conduct a study of the existing operations at the Hollywood and Highland (H&H) garage and provide recommendations for parking rates, payment methods and validation programs. LADOT in turn incorporated Walker’s rate recommendations into a staff report presented to the Board of Transportation Commissioners in regard to a pricing structure at the subject garage for the five-year cycle from 2012 - 2016.

As the end of calendar year 2016 approaches, LADOT desires Walker to conduct an updated study which recommends pricing structures at the subject garage for the five-year cycle from 2017-2021.

Based on this understanding of the needs of the City, we provide the following analysis for the Hollywood and Highland Parking Facility (Municipal Parking Lot #745) located at 6801 Hollywood Boulevard, Hollywood, CA 90028.

2017 RECOMMENDED PARKING RATES

Walker recommends the following proposed parking rate structure for calendar year 2017, with subsequent calendar year recommendations at the conclusion of this memo:

Daily Rate: $2 each 20 min. $17 maximum o w/ validation: $2 for 2 hours, posted rate thereafter (Retail/Restaurant) o w/ validation: $2 for 4 hours, posted rate thereafter (Theater) Valet Rate: Same as above + $8 service charge Monthly Commercial Rate:$130 Monthly Residential Rate: $80 Late Night Rate: $17 (Thursday - Saturday after 10pm)

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METHODOLOGY

In accordance with the scope of services, and based upon additional information provided by LADOT and the onsite parking operator, SP+, Walker reviewed the following documents as part of our analysis:

A. Walker Parking Consultants July 1,2010 report, project #37-8090.00 B. City of Los Angeles Standards for Parking Design C. LADOT Annual Report 2015-2016 D. Board of Transportation Commissioners Report dated April 14,2011 E. A parking rate study of public parking facilities within a two-block radius of the Facility. Study area duplicated the boundaries of the 2010 report: Franklin Avenue to the North, North Cherokee Avenue and North Las Palmas Avenue to the East, Sunset Boulevard to the South, and North La Brea Avenue to the West. F. A parking rate and validation study of the following eight comparable retail/entertainment venues: The Grove, the , Cinerama Dome, Beverly Center, Century City Shopping Center, Paseo Colorado, , and Universal Studios. These entertainment venues duplicate the eight comparable venues of the 2010 report.

In addition to these documents, Walker visited the property and toured the facility. After the tour. Walker took measurements and documented existing conditions at the facility.

The goals of the proposed rate program are to:

Be competitive with the local market Include discounted parking for H&H patrons Encourage off street parking Control employee parking so that the most convenient spaces remain available for visitors Provide recommended rate structure for next five-year cycle

MARKET AREA PARKING RATES

The market area rate survey consisted of seventeen (17) public parking facilities and two hotel operations within an approximate two-block radius of H&H. In Figure 1 on the following page, the public parking facilities are listed in numerical order, while the hotel operations are identified by letters. The survey revealed the market area contains over 2,000 public spaces exclusive of the H&H garage's capacity.

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Figure 1: Map of Parking Rate Survey Study Area MgER

t it i mi X TT* ^ r 1 ■ulj . ..tu. * if i < i

J © ' f /'i ' £ J J u Vi I 0 mj

•J ifiui mS I . I & -ft ill *» m , t rift L-- 'V'f! t A , hil AJ %’i | uia-W J */« S,

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LEGEND ft H HallywoDd S Highland Roosevelt Hotel (Valet) I780 Hollywood/ £% 1724 N Highland 0 IG3D N Las Palmas 1710 N Cherokee ' 7005 Hollywoni ^IGdaHLaBroa W 6801 Hollywood 0 BB3l-7f Hawfharra / ft 7083 Hollywood / A 1723 H McCaaden 1618 N McCadden B 1715 N Cherokee Loews Hotel (Valet) IG39 Highland 1722 El Cerrito w 1755 N Highland 0 GS22 Hollywood/ A 7201 Hollywood / 0 1721H Las Palmas/ 6725 W Sunset / IGSfl Orange 1738 H Sycamore 1728 NMcCadden“ “ I52D HMcCadden WALKER A I7B0Hollywood/ 0 1722Orange/ 0 IS5d N Las Palmas ^ I7SB N Cherokee N PAirrjr;'. r.KiijAKV. 1083 N Sycamore 6833 Hollywood

Source: Walker Parking Consultants, 2016

HOURLY PARKING RATE ANALYSIS

The market area survey (Table J) revealed eight (8) of seventeen (17) public parking facilities operated on a flat rate fee structure for daily parking. The fees ranged from $10.00 at two (2) locations on Las Palmas Avenue (.34 miles from H&H) to $20.00 at 6922 Hollywood Boulevard (less than .10 miles from H&H). The lack of an incremental hourly fee structure has the effect of discouraging patrons seeking short-term parking.

The remaining nine (9) public facilities offered incremental hourly parking rates until the daily maximum was reached. The rates for short-term parking ranged from a low of $1.50 per 30

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PAGE 4 minutes ot 6725 West Sunset Boulevard (.40 miles from H&H) to $2.50 every 15 minutes at multiple locations within .33 miles of H&H. The analysis of short-terms rates excluded three (3) locations over .40 miles (1715 & 1718 North Cherokee and 6725 West Sunset Boulevard) and revealed the following points of note for the remaining six (6) comparable facilities; The minimum rates for one, two and three-hour parking were $8.00, $10.00 and $10.00 respectively. The maximum rates for one, two and three-hour parking were $10.00, $20.00 and $20.00 respectively. The average parking fees for one, two and three-hour parking were $9.50, $16.17 and $16.17 respectively.

Table 1: Study Area Parking Rate Survey

Map Distance Facility Daily Evening Event Monthly Address Operator Spaces Hourly Rate 1 Hcur< 1 -2 Hours 2 - 3 Hours WYE Rare Code From H&H Type Maximum Rate Rate Rate

Hollywood and Highland / Standard Garage ] $1.00/15 min. $0.00 $8.CC $12.00 $'5.00 $15.00 $15.00 $125.00 6801 Hollywood______Parking J SP Loews Hotel 1755 N. 0.12 ml $42 plus tax ho+el Operation $15 Self hotel A Tcwne Park garage Highland Ave.'valefj per day Park Roosevelt Hotel (valet) j 0.15 mi. Valet Parking Hotel Operation hotel lot $36.00 'i 7C0G Hollywood B|vd. Service 6831 -71 Hcwthor.ne A/e j 0.18 mi. 2 Lot / SP 170 $20 fiat $15.00 $15.00 $15.00 $15.00 $20.CG S2C.0C $150 1639 Highicnd Ave______Parking 6922 Hollywood B!va./ O.iOmi. Standard Garage 3 25C $2.50/! 5 mir,. $10.00 $20.00 $20.00 $20.00 $20.00 $20. $135.00 1650 Orange Dr. Parking /SP

7060 Hollywood 0.27 mi. Standard Garage 4 70 $2.50/15 min. $10.00 $15.00 $15.00 $20.00 $15.00 $20.00 $138.00 3lvd./1683 N. Sycamore Parking /SP

7080 Hollywood Blvd. / Standard Garage 5 0.33 mi. 2GG $2.50/15 min. $10.00 $20.00 $20.00 $20.00 $2C.C0 $20.00 $175.00 1648 N. La Brea Ave Parking / SP

7083 Hollywood Garage 6 0.33 n*. LAl 150 $2.25/15 min. S9.QC $17.00 $17.00 $I7.X $8.00 $8.00 $135-165 Blvd./1722 El Cerrito PI /SP

7021 Hollywood Bivd. / 0.20 mi. Sfandcrd Gcrage 7 177 $2.50/15 min. $13.X $15.00 $15.X $15.00 $15.00 $20.00 $100.00 i 738 N. Sycamore Parking /SP i

1722Orange Dr/6933 iGarage 8 O.iOmi. VPS 80 $12 Flat $12.00 $12.00 S12.0C $12.00 $12.00 $12.00 $12.00 n/a Hollywood Blvd / Valet

Garage 9 1724 N Highland 0.12.mi. CarPork, Inc 180 $20 flat $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 /Sr 1729 N. McCacden PI. Garage 10 Car Park Mgr 130 $20 fiat $20.00 $20.00 $20.00 $20.00 $20.00 $2C $165.00 / SP 1721 N. Las Palmas Ave / Lot / 11 0.15 mi. Car Park Mi 85 $20 fiat $20.00 $20.00 $20.00 $20.00 $20.00 $2G.CC $165.00 ;728 N. McCadden Valet 12 1654 N. Las Palmas 0.33 ml. Classic Parking Lot / S3 100 $10 Fief $13.X $10.00 $ i0.ee $10.00 $10.00 $15.00 13 1630 N. Las Palmas Ave. C.34 rri. Classic Perking Lot i SP 5G $2.00/’5 mir.. $8.00 $10.00 $! 0.00 $10.00 $20.00 n/a ; 6;6 N. McCadden Pi 0.36 mi. CccS' Parking Let / S? 75 $15 flat $ I5.CC $15.00 j $15.00 $:5.0C S20.ce $20.00 $20-50 $100-165 6725 W. Sunset Blvd./ Garage 15 0.40 ml. Everpark 153 $; .50/30 min. $3.00 $6.C0 $7.50 $7.50 $6.00 $7.50 $11C.G0 1520 N. McCadden Pi i /sp i Garcge 16 1718 N. Cherokee Av e. G..41 mi. Modern Parking | $2.50/30 min. \ $2.00 $4.00 $12,00 $16.X $1200 $16.00 $144.00 j ! SP t 17 1719 N. Cherokee Ave. C.40 ml. CarDark. Inc | Lot / SP 75 $10 Flat $10,00 $10.00 $10.X $10.00 $2C.CC $10/ $20 i Lot / I 18 1715 N, Cherokee Ave. 0.40 mi. Grant Parking ] ■ 55 $3.CC $3.00 $9.00 $15.00 $15.X $20.00 Vcier I ! Minimum Rate I 2397 $2.00 $3.00 $7.50 $7.50 $6.CC S7.5G $;2.G0 $100.00 Maximum Rate x $20.00 $20.X $20.00 $20. X $20.00 S2‘! $12-50 Si 7 < Average $I1.X $13,65 $14.56 $15.44 $15.47 $17.41 $142/4

Source: Walter Parking Consultants, 2016

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ALL-DAY (MAXIMUM) PARKING RATE ANALYSIS

The analysis of maximum daily parking fees in the market area revealed a fee range from a low of $7.50 at 6725 West Sunset Boulevard (.40 miles from H&H) to a maximum rate of $20.00. A review of seven (7) locations within .30 miles of H&H found the following; • Five (5) locations; 6922 Hollywood Boulevard (.10 miles), 1724 North Highland (.12 miles), 1729 North McCadden Place (.15 miles), 1721 North Las Palmas (.15 miles), and 7060 Hollywood Boulevard (.27 miles), posted daily maximum fees of $20.00. • Two (2) locations; 7021 Hollywood Boulevard (.20 miles) and 6831 Hawthorne Avenue (.18 miles) posted daily maximum fees of $15.00.

H&H's maximum rate of $15 is on the low end of the range for locations within .30 miles and $5.00 less than the adjacent competing locations.

The review of night parking rates found twelve (12) locations where nighttime parkers receive no discount and are charged the daily maximum. The rate survey revealed three (3) locations where the night rate exceeded the maximum daily rate; 6831 Hawthorne Avenue (.18 miles) and 1616 North McCadden (.36 miles) the night rate increased $5.00 from the daily maximum of $15.00 to $20.00 and 1719 North Cherokee (.40 miles) where the night rate doubled to $20.00 from the daily flat rate of $10.00. Additionally, the analysis identified two locations with night rates lower than the daily maximum; 7060 Hollywood Boulevard's (.27 miles) night rate of $15.00 was a reduction of $5.00 and 7083 Hollywood Boulevard (.33 miles) where the night rate of $8.00 was $9.00 less than the $17.00 all-day rate. The night rate at H&H ($15.00) is $5.00 less than eleven (11) of the competing market area facilities and is within fifty cents of the market rate average of $15.47.

The results of the weekend parking rate analysis at the seventeen (17) competing locations included the following; • Of the seven locations within .30 miles of the H&H, five (5) locations; 6922 Hollywood Boulevard (.10 miles), 1724 North Highland (.12 miles), 1729 North McCadden Place (.15 miles), 1721 North Las Palmas (.15 miles) and 7060 Hollywood Boulevard posted weekend fees equal to the daily maximum of $20.00. Additionally, two (2) locations; 7021 Hollywood Boulevard (.20 miles) and 6831 Hawthorne Avenue (.18 miles) posted weekend fees of $20.00, an increase of $5.00 over weekday maximum. • The weekend rates at the locations over .30 miles from H&H ranged from $7.50 to $20.00. Five (5) of the nine (9) locations posted weekend rates of $20.00.

The weekend rate at H&H ($15.00) is $5.00 less than eleven (11) of the competing market area facilities and is $2.41 less than the market area average.

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RETAIL/ENTERTAINMENT CENTER PARKING RATES

Parking rate surveys were conducted at eight (8) local parking facilities that serve comparable entertainment / retail centers for the purpose of evaluating H&H's current pricing structure. The results of this survey are provided on the next page in Table 3. The highlights of the review of the survey included; • Three (3) venues offer free parking for the first hour, while Century City offers the first half hour free and the remainder of the first hour for $1.00. • Validated parking available at all locations with the exception of the Beverly Center. • Valet parking is offered at all locations with the exception of the Cinerama Dome and Paseo Colorado.

To gain a historical perspective on parking rates at the entertainment / retail centers, Walker compared the rates in place at the time of the 2010 rate survey with currently posted rates at the eight (8) centers studied below in Table 2.

Table 2: Entertainment Center Parking Rate Comparison 2010 to 2016

Property Information Doi ly Hourly Rates Validations 1 hr< I hr« 2 hrs < 2 hrs -■ 3hrs< Doily Retail Restaurant Theater Location 2016 2010 20)6 2010 20 16 20.10 Maxim um Maximum Validation Voii'aotion Validation 2016 2010 Tne Americana at Branc Free Free $6.00 $3.00 $10.00 $3.00 $18.00 $9,00 2-3 hrs 2-3 hrs 4 hrs Volet $10.00 $8.00 $10.00 $8.00 $14.00 $12.00 $24.00 $20.00 Bevep-/Center $1,00 $1.00 $2.00 $2.00 $3.00 $3.00 $10.00 I $10.00 il/a n/a n/a Valet $7,00 $ $7.00 $7.00 $7.00 $11.00 11.00 $18.00 j. $13.00 T West fed Century City $1.00 Free $2.00 Free $3.00 Free $28.00 $21.00 3 hrs 3 hrs 3 hrs Valet $8.00 $10.00 $8.00 $12.00 $12.00 $18.00 $28.00 |22/$14

Cinerama Dome $6.00 $4.00 $12,00 $8.00 $12.00 $12.00 $12,00 $10/$20 - ■res 4 hrs Valet No Volet Option The Grove Free l'~Pres $5.00 $3.00 $5.00 $3.00 $24 00 $22,00 ves 3 Valet $10,00 $3.00 Si 0.00 $3 00 $14.00 $14.00 $24 ; $20.00 4 Pctseo Colorado H Sir $3.00 $1.50 $6.00 $9.00 6 $6.00 n/a yes Valet No Volet Option $21.00 $17.00 ’ [ $17.00 > herm tvi Oat >. Gari ■rno $8.00 $6.30 $16.40 $13 40 $21 ■ yes yes Volet ?-1 ~.-:>o $13.30 $24 00 $20.60 $24.00 $24.00 $24.00 $24.00 Uriivsi at CiiyVValk $12,00 $12,00 $12,00 Varies $I2/$I0 $5 rebate

/ole: $15.00 S13.00 $13.00 $19.00 $30,00 $25.00 $30.00 $25.00 yes " Notes: Day Rate/Mighf Rate

sRefail-Resia urant-Heaffh Sub hr

"Validations avaBobie of Macy hours free/Cinemo 4 hours $2 «m 7. hn/$2 ©a 30 iTini thereafter/ 4M aximum$6 w/ vaidation

weekday before 4prrv?$3 after validated ticket expires (after 4prrf /$3 after vaSdated ticket expires (after 4pm)

£$35 front ga fe/$25 preferred/? 15 general < 5pnV$30 front gate/$20 c referred/?! 0 general > 5pm wee Ida yif $35 front gatie/$25 preferred/ $ 1S general. 5pm wtend s ;ftafe appV after vafidattor. period

-Votet 0 - 2 hrs $ 1 S/City Loft Cub $3 $un-Thur/$7 rri & Sat 2 nr.v over 3 hrs {requires validation w/ purchase at Howl at ins Moon) after7pm First 90 minute* free

Source: Walker Parking Consultants. 2016

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Table 3: Comparable Entertainment Center Parking Rate Survey

Self Parking Validations Valet Parking Location Daily Rate Max Daily Rate Max Validations The Americana at Brand 1st hour = FREE $18 Retail = 2-3 hours 0-2 hours = $10 $24 61 - 75 minutes = $3 Restaurant = 2-3 hours $2 ea. 30 min. Each. add. 15 min. = $1 Cinema = 4 hours No vaidations accepted Min. charge after a 2 or 3-hour validation is $6, Caruso rewards m em bers receive free self or and the min. charge afterexceeding o 4-hour valet parking with purchases over $250, validation is 410. Ea. add. IS min. is $ 1. Beverly Center First 4 hours = $1 per hour $10 No Validations Offered 0 - 2 hours = $7 $18 No vaidations $2ea. add. 30 min $2 each, add. 30 m accepted 1st 30 mins. = FREE Select Retail = 0 - 2 hours = $8 $28 Spend $750 or m ore in one day and redeye 30 mins. -1 hour = Select Restaurant = 0-3 hours $2 ea. 30 min. $1 comptim en tary valet 1 - 2 hours = $2 Cinema = 6+ hours = $28 vaidation. 2 - 3 hours - $3 Spend $i 00 and bring same day receipts to in's Guest Services to receive all-day $2 ea, 30 min. $28 com pirn entary all-day validation. Void through 0 - 3 hours = FREE w/ February 29th, 2076. min purchase $25 6+ hours = $28 Min. after 3 hours = $14 Handicap Accessible $8 flat $2 ea. 30 min. Vehicles = 6+ hours = $28 Dome Entertainment C1r Ea. 30 mins. - $3 $12 Retail/Rest./Health Club $3 first 2 hours Nightly (after8pml = $3.50 ea. 20 min. $20 Museum/Culturai Cente $4 first 4 hours Early Bird = $5 Cinema = $3 first 4 hours No Valet Parking (Entry before 9am. exit before Special Event = $4 first 4 hours 7pm M-F) (Cinem a Onty)

The Grove 1st hour - FREE $24 Validation offered at select retailers. Only one 0-2 hours = $10 $24 2nd hour - $4 vaidation accepted per visit. Normalrates $2 ea. 30 min. No validations 3rd hour = $5 resum e after once vaidation period has accepted ended. $1 ea, 15 min.

Paseo Colorado 1st 90 min. = FREE $9 Macy’s = 2 hours FREE $1.50 ea. 30 min. $6 w/ Cinema = 4 hours for $2 No Valet Parking val. Sherman Oaks Galleria Ea. 15 min. = $2 $21 $9 service charge + standard hourly ra (Enter before 4pm M-F6am-4pm) Handicap Valet Vaidations Available - Posted rates Ea. hour = $8.40 $5 service charge + standard hourly ra apply after validations expire Ea. hour = $3 (Enter after 4pm and weekends) $1 max Universal CityWak General /Before 5pm j = $18 Cinema (Before Spm) = $5 rebate 0-2 hours = $15 General (After 5pm) = $10 Cinema (AfterSpm) - $5 rebate 2+ hours = $30 Front gate (Before 5pm) = $35 CitvLoft Club Volet Requires vaidation with purchase at Howl at the Front gate (After 5pm) = $30 SurvThur = $3 Moon Preferred parking (Before spr$25 First 3 hours Fri & Sat $7 Preferred parking (After5pm.$20 $30 over 3 hours Hr Mon-Fri Requires vaidation with purchase ot participating 0 - 2 hours = $2 CltyWakretdL restaurant, or 2-4 hours = $15 entertainment venues, $30 over 4 hours excluding cinema Hollywood &. Highland 1st hour = FREE $15 Retail $2 first 2 hours $7 service charge + standard hourly rates 2nd hour = $2 Restaurant $2 first 2 hours $1 ea. 15 min Cinemas $2 first 4 hours

Source: Walker Parking Consultants, 2016

The analysis of the entertainment center first hour parking fees (not validated) in the study area revealed a fee range from a low of free to a maximum rate of $8.00. A review of the eight (8) comparable entertainment centers found the following;

Three (3) locations; The Americana, The Grove, and Paseo Colorado offer first hour of free parking. Equal to 2010 survey.

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• No locations surveyed offer first 2 hours of free parking without validation. Down from 1 in the 2010 study * Two (2) locations; Cinerama Dome and Sherman Oaks Galleria offer firsi hour of parking for over $5.00. Up from 1 in 2010 study.

H&H's non-validated rate of $4.00 for the first hour is the market average of the comparable entertainment centers as detailed below in Table 4. H&H is $3.40 below the market average and $13.00 below the market leader with a daily maximum rate of $15.00.

Table 4: Comparable Entertainment Center Average Rates 2016 and 2010

1 hr < 1 hr < 2 hrs < 2 hrs < 3 hrs < 3 hrs < Maximum Maximum 2016 2010 2016 2010 2016 2010 2016 2010 Minimum Rate Free Free $1.50 $2.00 $3.00 $3.00 $10.00 $6.00 Maximum Rate $8.00 $12.00 $16.40 $13.60 $21.00 $17.00 $28.00 $22.00 Average Rate $4.00 $5.36 $6.41 $6.80 $8.36 $8.71 $18.40 $14.17

Source: Walker Parking Consultants, 2016

The analysis of the entertainment center average hourly parking rates and validation programs in the study area revealed minimal changes. A review of the eight (8) comparable entertainment centers found the following;

• Average incremental hourly rates dropped slightly as average daily max rates increased. • Validation programs have mostly remained constant over the previous five years.

H&H’s validation program of $2 for 2 hours retail and $2 for 4 hours cinema is consistent with comparable entertainment centers surveyed.

RECOMMENDED PARKING RATES 2017-2021

Walker's recommended parking rate structures for the next five-year cycle are detailed in the following tables:

Table 5; Recommended Monthly Parking Rates

Year Regular Monthly Residential Monthly 2016 $125.00 $75,00 2017 $130.00 $80.00 2018 $140.00 $80.00 2019 $140.00 $80.00 2020 $150.00 $85.00 202! $150.00 $85.00

Source: Walker Parking Consultants, 2016

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Table 6: Recommended Hourly Maximum Rates

Year Hourly Rate Maximum Rate 2016 $1.00/15 mins $15.00 2017 $2.00/20 mins $17.00 2018 $2.00/20 mins $17.00 2019 $2.00/20 mins $18.00 2020 $2.00/20 mins $18.00 2021 $2.00/20 mins $20.00

Source: Walker Parking Consultants, 2016

Table 7: Recommended Weekend Evening Flat Rates

Year Flat Rate Thursday - Saturday After 10:00 pm 2016 $15.00 2017 $17.00 2018 $17.00 2019 $18.00 2020 $18.00

2021 ' $20.00

Source: Walker Parking Consultants, 2016

Table 8: Recommended Retail/ Restaurant Validation Rates

First 2 Hours 2016 $2.00 posted rates thereafter to $15 maximum 2017 $2.00 posted rates thereafter to $17 maximum 2018 $3.00 posted rates thereafter to $17 maximum 2019 $3.00 posted rates thereafter to $18 maximum 2020 $3.00 posted rates thereafter to $18 maximum 2021 $3.00 posted rates thereafter to $20 maximum

Source: Walker Parking Consultants, 2016

Table 9: Recommended Cinema/Theater Validation Rates

Rrst 4 Hours 2016 $2.00 posted rates thereafter to $15 maximum 2017 $2.00 posted rates thereafter to $17 maximum 2018 $3.00 posted rates thereafter to $17 maximum 2019 $3.00 posted rates thereafter to $18 maximum 2020 $3.00 posted rates thereafter to $18 maximum 2021 $3.00 posted rates thereafter to $20 maximum

Source: Walker Parking Consultants. 2016

j:\37-8649.00 - hollywood and highland 2016 rate analysis\reports\37-8649.00 hollywood and highland rate survey memo.docx MEMORANDUM WALKER PARKING CONSULTANTS HOLLYWOOD AND HIGHLAND RATE SURVEY

PAGE 10

Table 10: Recommended Valet Rates

Valet Surcharge 2016 $8.00 posted rates thereafter to $23 maximum 2017 $8.00 posted rates thereafter to $25 maximum 2018 $8.00 posted rates thereafter to $25 maximum 2019 $9.00 posted rates thereafter to $27 maximum 2020 $9.00 posted rates thereafter to $27 maximum 2021 $10.00 posted rates thereafter to $30 maximum

Source: Walker Parking Consultants, 2016

Table 11: Five Year Recommended Rates Summary

Daily Evening Weekend Public Monthly Resident Monthly Fiscal Year Hourly Rate 1 Hour < 2 Hours 3 Hours Maximum Rate Rate Rate Rate

2017 $2.00/20 mins $6.00 $12.00 $17.00 $17.00 $17.00 $17.00 $130.00 $80.00

2018 $2.00/20 mins j $6.00 $12.00 $17.00 $17.00 $17.00 $17.00 $140.00 $80.00

2019 $2.00/20 mins i $6.00 $12.00 $18.00 $18.00 $18.00 $18.00 $140.00 $80.00

2020 $2.00/20 mins $6.00 $12.00 $18.00 $18.00 $18.00 $18.00 $150.00 $85.00

2021 $2.00/20 mins $6.00 $12.00 $18.00 $20.00 $20.00 $20.00 $150.00 $85.00

Source: Walker Parking Consultants. 2016

j:\37-8649.00 - hollywood and highland 2016 rale analysis\reports\37-8649.00 hollywood and highland rate survey memo.docx Attachment 2 - Hollywood and Highland (Lot 745)

Flat Rate Late Hourly Retail/Restaurant/ Night: Thursday, Monthly Residential Calendar Year Maximum/Daily Valet Surcharge Cinema Validation Shop Validation Friday & Saturday Parking Parking Maximum Rate after 10 PM $2.00 for the first 2 $2.00 for the first 4 $1.00/15 minutes up to $8.00 + posted rate to Hours with validation; Hours with validation; 2016 $15.00 maximum per $15.00 $125.00 $75.00 a maximum of $23.00 regular rates to $15.00 regular rates to $15.00 day maximum thereafter maximum thereafter

$2.00 for the first 2 $2.00 for the first 4 $2.00/20 minutes, $8.00 + posted rate to Hours with validation; Hours with validation, 2017 ($6.00/hour) to $17 00 $17.00 $130.00 $80.00 maximum of $25.00 regular rates to $17.00 regular rates to $17.00 maximum per day maximum thereafter maximum thereafter

$3.00 for the first 2 $3.00 for the first 4 $2.00/20 minutes up to $8.00 + posted rate to Hours with validation; Hours with validation; 2018 $17.00 maximum per $17.00 $140.00 $80.00 maximum of $25.00 regular rates to $17.00 regular rates to $17.00 day maximum thereafter maximum thereafter

$3.00 for the first 2 $3.00 for the first 4 $2.00/20 minutes up to $9.00 + posted rate to Hours with validation; Hours with validation; 2019 $18.00 maximum per $18.00 $140.00 $80 00 maximum of $27.00 regular rates to $18 00 regular rates to $18.00 day maximum thereafter maximum thereafter

$3.00 for the first 2 $3.00 for the first 4 $2.00/20 minutes, $9.00 + posted rate to Hours with validation; Hours with validation; 2020 ($6.00/hour) to $18.00 $18.00 $150.00 $85.00 maximum of $27.00 regular rates to $18.00 regular rates to $18.00 maximum per day maximum thereafter maximum thereafter

$3.00 for the first 2 $3.00 for the first 4 $2.00/20 minutes up to $10.00 + posted rate to Hours with validation; Hours with validation; 2021 $20.00 maximum per $20.00 $150.00 $85.00 maximum of $30.00 regular rates to $20.00 regular rates to $20 00 day maximum thereafter maximum thereafter