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Members of the Common Council <br />- 2 - <br />will allow $73,750 to test our plans. It is possible that <br />this entire amount will not be needed and, thus, the remainder <br />will also be placed in the Sinking Fund. <br />It is our desire to proceed for ninety days on a two -fold <br />plan with respect to the garages. <br />1. allow two hours free parking at both garages <br />2. raise the existing rates at both garages from <br />the third hour <br />If we allowed two hour free parking at both garages without <br />raising the rates our estimate is that the annual loss in <br />revenue would be $42,000. However, if we raise the rate <br />from the third hour on, the revenue loss could be as low as <br />$6,271.20. (See attached sheets) <br />Your positive consideration of this ordinance is requested. <br />Controller <br />CC: <br />Peter J. Nemeth, Mayor <br />Attachment <br />