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4 | P a g e <br /> <br />Shared Parking Analysis <br />Shared parking is the use of parking spaces to serve two or more individual land uses without <br />conflict or encroachment. The ability to share parking spaces is the result of variations in the <br />accumulation of vehicles by hour, by day or by season at the individual land uses. The shared <br />parking principle also accounts for the relationships among the land uses that result in visiting <br />multiple uses on the same auto trip and the mode of transportation used to reach the site. <br /> <br />The main goal of shared parking is to determine a balance between providing enough parking to <br />support a development and reducing the excessive area dedicated to parking. Shared parking <br />analysis was conducted for the project based on the procedures outlined in the Urban Land <br />Institute (ULI) Shared Parking, 2nd Edition and parking rates provided in the city of Sunny Isles <br />Beach Code of Ordinances (Article VIII). The hourly distribution analysis was conducted for both, <br />a typical weekday and a weekend. The results of the analysis show that the highest accumulation <br />of parking occurs during a typical weekend between 9:00 PM and 10:00 PM. Attachment 2 <br />includes the results of the analysis. <br /> <br />Parking requirements based on the individual land uses were adjusted to account for seasonal <br />variations, hourly distribution, non-captive ratios and mode adjustments to estimate the actual <br />number of parking spaces required for the site. It should be noted that the hourly parking demand <br />distribution for the residential component of the development was assumed to be 100%. In essence <br />the residential parking spaces were not accounted for in the shared parking calculations. The result <br />of the shared parking analysis shows that the proposed project requires 1,022 parking spaces to <br />satisfy the maximum parking requirement. Exhibit 3 shows the results of the analysis. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />