A secure bike storage solution within a parkade is not a workable solution. That area would need to be monitored 24 hours a day to prevent mis-use and vandalism, and what would happen when a cyclist arrives and they encounter zero available stalls? Do they just leave their $3,000 bike on the street where they believe it'll be stolen by the time they finish lunch, or end their shift?
This is not an issue the City of Victoria wants to be plagued by.
Parkades are essentially monitored 24 hours a day already, and there isn't really any difference between coming downtown in your car and finding everything full, and coming downtown on your bike and finding everything full.
If you want guaranteed parking 24/7, you buy a monthly spot for your bike just as you would your car.
But most importantly, I'm not talking about "secure" parking as in a giant cage, I'm talking about individual bike lockers ... like the rest of the civilized world uses. (Google - "individual bike lockers").
This really isn't that difficult in any situation where folks actually follow up massive paradigm shifts with appropriate technology.
The COV's entire point is to trade cars in the downtown core for bikes/transit ... this just speaks to doing the job properly rather than in typical COV bogus fashion.
As for a "business case" ... is that some sort of joke?
Can you actually present a "business case" for $10 million dollars worth of bike lanes?
Thought not .... thus no need to present a business case for totally secure downtown bike parking.