Four bidders submitted paid parking proposals to the city, and two of them believe the city can meet the budgeted $1.3 million revenue figure the city hoped to collect this year.
The proposals were opened Wednesday afternoon and projected various amounts for parking revenue and expenses.
The bidders were Republic Parking Systems of Chattanooga, Tenn.; Propark America of Hartford, Conn.; SP Plus of New York City; and LAZ Parking of New York City.
LAZ and SP Plus presented the most optimistic fiscal scenarios, with both projecting the city can net between $1.3 and $2 million this year if motorists pay for parking at all city parking lots and garages and many downtown streets.
Finance Commissioner Ken Ivins had not been able to look over the proposals Wednesday afternoon.
“I’m going to be evaluating them over the weekend,” Ivins said. “Until I see the numbers, I won’t know if we got good, solid bids or not.”
Bidders were asked to present proposals based on two scenarios — garages and surface lots only or garages, surface lots and on-street parking.
Most proposals spelled out how residents and downtown workers could buy permits for about $50 a month. Hourly parkers would have to pay in advance in most cases, meaning they would have to know how long they planned to stay in a parking space. Some systems would allow motorists to recharge their parking remotely by cellphone.
The proposals based revenue on parking fees of about $1.50 an hour. Street parking was estimated at between 300 and 450 spaces, depending on the proposal.
Bidders estimated that electronic parking meters that take credit cards would cost between $10,000 and $12,000 each fully installed.
Most proposals said at least three staffers would be required to enforce the regulations. The city already has three parking enforcement officers, although one is also the animal control officer.
Here’s a brief breakdown of each bid.
Republic
Would ask for a $343,000 payment the first year under scenario one.
Projects $728,924 a year in revenue for the first scenario and $1.21 million under the second scenario.
LAZ
The city would pay $501,958 the first year and get $1.91 million in income the first year under the first scenario.
Under the second scenario, the city would pay $692,243 and gross $2.65 million in income the first year.
SP Plus
Estimated $2.14 million in revenue the first year, or $1.19 million after May 1 for the first scenario if implemented after May 1.
If street parking is included, the city could net $3.176 million in the first 12 months. The company believes on-street parking could not be implemented until June 1, and that would earn the city $2.05 million for 2010.
Propark America
Estimated the city would see $389,584 in expenses and $819,416 in income the first year. It wasn’t apparent from the proposal whether Propark addressed the revenues under the second scenario.
An advisory committee charged with studying downtown paid parking will review the proposals and recommend one at a public meeting at 2 p.m. Tuesday at City Hall.
The city must generate $1.3 million in paid parking revenue this year to meet the 2010 budget.
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