Parking Corporation of Vancouver - 2000 Budget Review - April 26, 2000

SCHEDULE A

PARKING CORPORATION OF VANCOUVER

EASY PARK MARKETING & COMMUNICATIONS BUDGET
START UP COSTS FOR FY 2000

Community Relations Campaign $ 35,000
Associated Expenses 5,000

Benchmark Research 25,000

Design and production of print materials
including Web Site Development and
Power Point Presentation ($15,000 will be 25,000
allocated to Coop Marketing & Promotions)

Copy Writing and Media 10,000 $ 100,000

Development Fees including Graphic
Design for Carpark Identity, Signage
and Wayfinding Program 15,000

Phase I Signage
and Related Capital Costs 35,000 50,000

TOTAL BUDGET $ 150,000

SCHEDULE B

PARKING CORPORATION OF VANCOUVER

EASY PARK MARKETING & COMMUNICATIONS BUDGET
6 YEAR FORECAST OF INCOME & EXPENSES

INCOME 2000 2001 2002 2003 2004 2005
· Start up Budget 150,000 - - - - -

· Theme Parking (City) - 112,500 157,500 187,500 225,000 290,000

· Theme Parking (C/F from 2000) - 25,000 - - - -
· Outdoor Advertising (City) 22,000 25,000 30,000 35,000 40,000 45,000

· Coop Marketing & Promotions 15,000 70,000 80,000 120,000 150,000 180,000
(Contributions from Community
Partners)

· Licensing Fees - - - 20,000 25,000 30,000

TOTAL INCOME 187,000 232,500 267,500 362,500 440,000 545,000

EXPENSES

· Community Relations & 40,000 40,000 40,000 50,000 50,000 60,000
Associated Expenses

· Benchmark Research 25,000 5,000 15,000 8,500 15,000 10,000

· Design & Production of
Print Materials including
Website Development &
Power Point Presentation 25,000 8,000 10,000 12,000 18,000 25,000

· Copy Writing & Media
10,000 12,500 15,500 25,000 30,000 40,000

· Development Fees
Including Graphics Design
for Carpark Signage, Identity
& Wayfinding Program 15,000 15,000 15,000 15,000 15,000 -

· Carpark Signage & Related
Capital Costs – Phase I 35,000 - - - - -

· Coop Marketing
& Promotion Program 30,000 140,000 160,000 240,000 300,000 360,000

· Reserve 7,000 15,000 15,000 15,000 15,000 50,000
TOTAL EXPENSES 187,000 235,500 270,500 365,500 443,000 545,000

SCHEDULE C

PARKING CORPORATION OF VANCOUVER

PROJECTED REVENUES FOLLOWING INTRODUCTION OF
EASY PARK and THEME PARKING
IDENTITY, SIGNAGE & WAYFINDING PROGRAM

(Actual) (Actual) (Budget) (Forecast) (Forecast) (Forecast) (Forecast)

REVENUES 1998 1999 2000 2001 2002 2003 2004(Annual % Increase) - Base 2.6% 5.0% 5.5% 6.0% 6.5%
· City Properties 10,814,527 11,139,851 11,473,000 12,005,000 12,665,000 13,425,000 14,298,000
(Schedule A)

· Other Properties 3,728,818 3,722,895 3,750,000 3,938,000 4,154,000 4,403,000 4,690,000
(Schedule B)

Total Revenues 14,543,345 14,862,746 15,223,000 15,943,000 16,819,000 17,828,000 18,988,000

Less:
Carpark Expenses
@ 36% 5,777,629 5,288,722 5,480,280 5,744,000 6,055,000 6,418,000 6,835,000

__________ _________ _________ _________ _________ ________ _________

Net Operating
Revenues 8,765,716 9,574,024 9,743,000 10,203,000 10,764,000 11,410,000 12,153,000

Projected Increase
in Annual Revenues - - - 337,000 561,000 646,000 743,000
Less:
EasyPark Contribution to
Coop Marketing & Promotion
Programs (See Schedule B) - - - 70,000 80,000 120,000 150,000

(Note 1) (Note 1) (Note 1) (Note 1)

Projected Capital
Costs Amortized over
4 Years (See Schedule D) - - - 137,500 137,500 137,500 137,500

Projected
Increase in Net
Revenues - - - 129,500 343,500 388,500 455,500

Notes/Assumptions:

1. 50% of all Coop Marketing and promotion expenditures are contributed by Community Partners (eg. Business Improvement Areas and Tourism Vancouver).

2. Projected revenue increases are based upon current operations. No allowances have been made for rate increases.

3. Carpark revenues for fiscal years 2001 to 2004 are based solely upon new income generated from improved identity, signage and wayfinding systems. Projected increases are based upon independent research and recommendations from the operators of Smart Park in Portland, Oregon.

4. Carpark revenues, expenses and net operating margins are based upon current operations and efficiencies realized through streamlined operations, introduction of technological change and automated parking systems.

5. Projected capital costs for new signage and wayfinding systems are defined by attached Schedule D.

6. Including Startup Budget and Capital Investment in new signage, the total investment in this program is $750,000. Conservatively, the accumulated “Projected Net Increase in Revenues” to Year 2004 is $1,316,500; an 75.5% Return on Investment or 18.9% per annum over 4 years.

SCHEDULE D

PARKING CORPORATION OF VANCOUVER

PROJECTED CAPITAL COSTS TO INTRODUCE
“EASY PARK” IDENTITY PROGRAM

The following Capital Costs are based upon an independent analysis completed by Design Pacifica International of Portland, Oregon. They are recognized leaders in environmental and graphics information design, signage and wayfinding systems.

A. Exterior “Easy Park” Signage & $ 168,000
Identity (14 Facilities @ $ 12,000 each)

B. Interior “Easy Park” Signage & 112,000
Wayfinding (14 Facilities @ $ 8,000 each)

(Average $ 20,000 per Carpark) 280,000

C. Surface Lot Signage & “Easy Park” Identity 120,000 400,000

(20 facilities @ $ 6,000 each)

Additional Capital Improvements to reinforce
"Easy Park" Identity, Signage & Wayfinding Program:

· New Canopies for 6 Carparks 60,000
· Additional Exterior Signage to compliment
& reinforce overall Identity & Wayfinding
Program (murals, pedestrian information,

kiosks, etc.) 140,000 200,000

TOTAL PROGRAM COSTS $ 600,000

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