HomeMy WebLinkAbout6/7/2022 Item 6a, Newman (2)
Suzy Newman <suzy@slorep.org>
Sent:Tuesday, June 7,
To:E-mail Council Website
Subject:Item 6a June 7, 2022
Attachments:SLO REP Board of Directors letter - Item 6a 06.07.2022_1.pdf
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Attached please find a letter regarding Item 6a from the SLO REP Board of Directors.
Thank you,
Suzy
Suzy Newman (she/her/hers)
Capital Campaign Coordinator
Office: (805) 781-3889 Ext. 17
Cell: (805) 478-9203
Email: suzy@slorep.org
www.slorep.org
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1
June 6, 2022
To: Mayor Stewart
and Honorable City Council members Christianson, Marx, Pease and Shoresman:
We fully understand why the proposed parking rate increase faces opposition.
Nobody likes to lose a good deal.
Nonetheless, we strongly urge you to ensure no further delay in the construction of
the Cultural Arts District Parking Structure. As the Board of Directors of SLO
Repertory Theatre, we have made a multi-million-dollar investment that depends on
that parking structure being built on the current timeline. Our professional cost
estimators tell us that any further delays will add $1.5 million annually to our cost of
building the new theatre on that site.
Other businesses and residents in the western end of downtown also are eager for
that parking structure to be built.
Increasing parking rates appears to be the prudent way forward.
The full impact of inflation has prompted lenders to impose a tight deadline for the
City to prove it will have sufficient revenue to finance construction. Understandably,
decisions must be made quickly.
Beyond our own interest in building a new theatre – which is dependent on the new
parking structure – we have other reasons to support an increase in parking rates:
• While a “doubling of rates” in the garages sounds dramatic, an hourly
increase from $1.50 today to $3.00 in 2025 sounds reasonable.
• Many businesses downtown have raised their prices – just as we have
raised ticket prices. It seems reasonable for the City to raise rates, too.
• As a matter of fairness, those of us who benefit from parking availability
should pay for it rather than putting the burden on the community. That is,
we support funding the construction from the Parking Enterprise Fund rather
than from the General Fund.
• The Parking Enterprise Fund is an appropriate financing mechanism so that
this Council and future Councils have the flexibility to use General Fund
revenues to pay for other amenities. (Several of us associated with SLO
REP actively campaigned for Measure G for that very reason.)
In the interest of transparency, we respectfully remind the public of SLO REP’s
expansion plans, which are based on several interlocking issues:
• At the City’s urging, we have undertaken the task of raising more than $10
million in private funds to build a new, state-of-the-art theatre adjacent to the
planned parking structure. We have done this not only out of our passion for
live theatre, but also because we believe that the arts play a vital role in the
economic and social well-being of the community. We conservatively project
that performances in the new theatre will generate an economic impact of $3
million annually (in today’s dollars).
• Our fundraising momentum is strong, but several major donors have told us they have no appetite for
further delay, noting that the original plan was for the new theatre to be completed by now. Some
donors have made their gifts contingent on the current timeline, reserving the right to revoke their gifts
if the timeline is not met. Several prospective donors have told us they are unwilling to commit until the
City breaks ground on the parking structure.
• We dealt with our own skyrocketing construction costs last year, realizing our downtown dream, as
originally envisioned, was unattainable. We decided instead to invest $3 million to acquire an existing
building outside of downtown to support theatre operations, and adopted a more affordable version of
our downtown dream. We made that $3 million investment fully believing that construction on the
parking structure would begin this year.
This parking structure is about more than parking cars.
According to the city’s revitalization consultants, Resonance, one commonality of all vibrant
downtowns is a thriving arts district. With the Children’s Museum currently thriving, and plans being
advanced by SLO REP, the SLO Museum of Art and the History Center of San Luis Obispo County,
downtown SLO is on a solid path to realize a vibrant new arts district.
The parking structure is the cornerstone of this vision.
Please move forward quickly and confidently to build the Cultural Arts District Parking Structure.
Parking rate increases are the logical way to get this done.
Thank you for your consideration.
With respect and on behalf of the Board of Directors of the San Luis Obispo Repertory Theatre,
Pam Nichter Kevin Harris
President, SLO REP Board of Directors Managing Artistic Director
SAN LUIS OBISPO REPERTORY THEATRE