Issue link: https://newsleader.uberflip.com/i/297477
During the April 15 DID meeting, Moran pre- sented a spreadsheet examining how such a system might work financially. Using a five- year lease to acquire 10 vehicles, along with paying for the insurance and maintenance, would require approximately $113,000. However, to buffer the cost, Moran suggested a private firm might want to operate the sys- tem and raise funds by selling advertising and renting the vehicles to operators who would drive for tips. Additional funds might come from the hotels themselves, while local foundations could be yet another option for assistance. The Downtown Sarasota Community Redevelopment Agency, the DID and perhaps even the city's Parking Department might want to support the idea. Each parking space in the new State Street garage will cost roughly $30,000, so elimi- nating a single car's need for a downtown parking space potentially is worth that one- time amount. Kauffman did a little mental math to assess the size of the ridership. "You have four down- town hotels with 814 rooms. With 70 percent occupancy [on an annual basis] and a four- day stay of 1.8 people per room, times 365. That's 100,000 visitors per year," he said. "This is going to be our salvation downtown." Moran was quick to point out his spreadsheet contained a lot of estimates. "But the $113,000 annually is an amount that is affordable," he said. "It is not a back-breaking amount to consider." % Outdoor dining is a common feature on both ends of Main Street, east and west of Five Points. Photo by Norman Schimmel Sarasota News Leader April 18, 2014 Page 79