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3 <br />• Minimum parking requirements typically do not reflect act ual car ownership <br />rates <br />• Minimum parking requirements increase development costs, typically by <br />$20,000 to $30,000 per unit <br />• Minimum parking requirements reduce housing production and the amenities <br />which developers can provide residents <br />• Affordable housing developers are often required to build more parking than the <br />building residents need <br />Vehicle Ownership Model <br />Below is an outline of how the Berkley Vehicle Ownership Model works. The model is based on <br />statistical research done by the In stitute for Location Efficiency. <br />Factors Impacting Vehicle <br />Ownership Rationale Development <br />Characteristic <br />Used for Input Explanation Specific <br />Variable <br />Used <br />Income Higher income increases <br />average vehicle ownership <br />rates Rent <br />With deed-restricted <br />affordable housing, annual <br />rent is 30% of household <br />income. <br />Income per <br />Person ($/P) <br />Household Size Larger households own more <br />vehicles Bedrooms Household size increases <br />with bedrooms <br />Persons per <br />Household <br />(P/H) <br />Neighborhood Density <br />Density increases proximity to <br />jobs, neighborhood services, <br />parking costs, walk and bike <br />friendliness, decreasing <br />vehicle ownership <br />Location Project location will have <br />specific neighborhood <br />density <br />Households <br />per <br />Residential <br />Acre <br />(H/RA) <br />Neighborhood Transit <br />Access Quality transit reduces need <br />for vehicles Location Project location will have <br />specific transit access <br />Transit <br />Accessibilit y <br />Index (TAI) <br /> <br /> <br />5.0 SUGGESTED ACTION: <br /> Discuss and provide direction. Direct staff to place the issue on the June 7th agenda for <br /> conversation with the HRA Board or representatives. <br /> <br /> <br />