Policy-PaymentInLieuOfParking-021317

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BOARD OF SELECTMEN POLICY Payment In Lieu of Parking (PILOP) Policy Date Approved by BOS: Signature of Chair: February 13, 2017 I. PURPOSE The Payment In Lieu Of Parking (PILOP) policy provides criteria and a calculation for determining parking mitigation when the required number of parking spaces for a proposed project is not provided, resulting in increased pressures on the Town's supply of public parking. II. BACKGROUND All projects that do not meet the Town's parking requirements are allowed to apply for a special permit from the Special Permit Granting Authority (SPGA) to waive parking requirements in whole or in part. The approval of the special permit is at the discretion of the SPGA. There are, however, no established guidelines for approval nor a standard evaluation of the aggregated impacts of these decisions. To address this, the Selectmen's PILOP policy outlines a consistent approach to mitigate the increased demand on public parking created from certain projects that increase occupiable space but do not meet the parking requirements of the Zoning Bylaw. The mitigation payments will enable the Town to contribute meaningfully towards the overall management of its public parking supply while not discouraging property owners and developers from redeveloping property or hindering their ability to attract a diverse mix of tenants. Developers with projects that need on-site parking can choose to either provide parking as required by the Zoning Bylaw or seek a waiver that may be granted if a mitigation payment is made that will improve public parking in the Center. III. APPLICATION The PILOP policy applies to properties within the Center Business District seeking a special permit to waive the number of parking spaces, in whole or in part, required by Section 5.1 of the Zoning Bylaw under three scenarios: a. An increase of new construction of more than 35 percent of the existing net floor area as defined in the Zoning Bylaws. b. New construction on vacant lots. c. The demolition and construction of a new building that exceeds the net floor area of the previous building.