The town council hereby finds and determines that: a) new development within the town imposes increased demands for off street parking; b) studies conducted for the town by Felsburg, Holt & Ullevig show that there is currently insufficient public off street parking to meet the present and future parking needs of the town, its residents and visitors; c) studies conducted for the town by Felsburg, Holt & Ullevig further demonstrate that new commercial development will place ever increasing demands on the town to provide public parking facilities to serve new commercial development; d) the development potential and value of properties in the town are strongly influenced by town policies as expressed in the town's master plan and as implemented by the town in its development code and other land use regulations; e) the "service area" of downtown Breckenridge, as hereafter defined in this chapter, consists of a variety of land uses exhibiting parking demands which can vary by season as well as by time of day and, therefore, there is a significant potential for joint use of shared parking facilities; f) the parking demand ratios for the service area set forth in section 9-3-8 of this chapter have been verified by field observations and reflect the joint use aspect as set forth above; g) the parking demand ratios set forth in section 9-3-8 of this chapter yield reasonable total parking supplies when applied to the aggregate development totals for the entire geographic area encompassed by the service area; h) to the extent new development places demands upon the town's public parking facilities, those demands should be satisfied, at least in substantial part, by shifting the responsibility for providing off street parking from the public to the development creating the demands; i) the town is responsible for and is committed to providing public parking facilities at levels necessary to cure any existing deficiencies in already developed areas; and j) in lieu fees collected pursuant to this chapter may not be used to cure existing deficiencies in public parking facilities. (Ord. 9, Series 1996)