Those bonds and assessments end in December of 2013.
To discuss the future of the parking district, created in May 18, 1987, Los Gatos economic vitality officials are inviting downtown property and business owners to a meeting at 8 a.m. Tuesday, Dec. 3 at Town Council chambers, 110 E. Main St.
The meeting will give participants a chance to discuss upcoming holiday events in the downtown area, as well as possible next steps for downtown parking, the flier advertising the event said.
Staff from the Los Gatos Chamber of Commerce and the town's Economic Vitality Department will be on hand to present information and answer questions.
Longtime Los Gatos resident Larry Arzie, who owns property in the downtown parking district, complained in an email to Los Gatos Patch that the parking district did not add one additional parking space to the area.
There are 11 public parking lots in downtown Los Gatos supplying 1,116 parking spaces.
There are a total of 342 parallel parking spaces dedicated along all other downtown streets: 77 spaces along East and West Main Street from Pageant to North Santa Cruz, 18 along Montebello, 120 along South and North Santa Cruz from Highway 17 to Highway 9, and 127 along all other side streets in the downtown, according to town records.
"We, merchants and property owners, have paid millions of dollars for a beautification project only, not new parking," Arzie said.
In lieu of paying into the parking district, which has helped pay for upkeep, Arzie said town officials promised that no further restaurant or additional square footage would be allowed without additional parking required.
However, he said, town management has allowed retail to convert to restaurants or bars without providing parking.
Arzie is particularly upset that parking is being allowed in the downtown when enterprises such as the Los Gatos Theatre have completely remodeled, adding a component to the business which will require patrons to find additional parking.
"The town regulations are clear that this shall not be allowed without new parking," he said. "The parking district expenses have now been paid off. Merchants will no longer be assessed hundreds of dollars a year triple net costs on their rents."
Arzie expressed disappointment that now town management seems to be wanting to form a new parking district arguing that the last one wasn't expansive enough.
Arzie urged every property owner and merchant to attend the meeting to demand from town officials the building of a new parking garage that he says was promised, but never delivered.
Los Gatos Town Manager Greg Larson and Economic Vitality coordinator Monica Renn didn't immediately return emails and phone calls seeking comment.