Ardmore Main Street Authority

PROJECT PURPOSE

Ardmore Main Street Authority seeks funding to develop a parking lot plan to support downtown main street and our new Depot Park. AMSA has been discussing and planning parking options to address the needs of our service area. We are pursuing the addition of at least three, two-level parking structures to be constructed on properties that are available for purchase. This additional parking will serve both our regular downtown needs as well as Depot Park events. We have identified suitable locations, one adjacent to the park, and two others on Main Street. Both Main Street locations will be within walking distance of the park. This project is a continuation of our well-developed private public partnership with the City of Ardmore.

EVIDENCE

Economic development can be directly correlated to the availability of parking. According to the International Parking and Mobility Institute, one open on-street parking space is valued at $20,000 per year in revenue to local businesses and the local government. This is presented in ?URBAN PARKING AS ECONOMIC SOLUTION? available at https://www.parking-mobility.org/2016/01/19/tpp-2013-12-urban-parking-as-economic-solution/.

POPULATION DESCRIPTION

Ardmore Main Street and Depot Park are adjacent to a qualified census tract. This area was heavily impacted by the reduction of employment during the pandemic. Continued strong development of downtown Ardmore and the park will provide new employment opportunities and benefit the economic health of Ardmore. AMSA has recently begun outreach to business owners in the qualified census tract and is inviting them to participate on AMSA committees. Our goal is to see the vibrant growth in downtown expand eastward to the qualified census tract.

PERFORMANCE MEASURING

The first performance measure will be on-time completion of constructing the parking areas. The AMSA Board of Trustees will track construction process to ensure on-time completion. The second measure will be increased tax revenue reported by the City of Ardmore. AMSA will communicate with the City of Ardmore to track this tax revenue. The third performance measure will be parking lot usage during the work week and for special events. AMSA employees will periodically observe parking facility usage during the work week and monitor usage during special events.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma