The continuous story in Venice is parking, parking, parking. That is the story now and that will be the story in Venice for sometime.
But Councilman Mike Bonin proposed a motion Tuesday that is aimed at easing this continued parking problem in Venice.
His motion is to tie the in-lieu parking to the Consumer Price Index (CPI) with an amendment to the Specific Plan. Right now developers can pay $18,000 per required parking space that they do not have. The $18,000 figure was a fixed figure established in 1999. Values of property have since increased.
One resident said, “Put a couple of those $18K phantom spaces together and you can build a nice house on cheap land.”
As part of his motion he included the upcoming Local Coastal Plan and that he wanted the Department of City Planning to “examine the merits of eliminating, restructuring, or replacing the in-lieu parking fees and examine the benefits and impacts of eliminating ‘grandfathered’ parking rights.”
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