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Fernandina Beach paid parking nears $500,000 in net revenue as June earnings climb
FERNANDINA BEACH — Fernandina Beach's downtown paid parking program generated $113,977 in net revenue during June, pushing the city's year-to-date net revenue to close to $500,000 as the system continues to outperform early expectations despite falling short of the original financial projections.
According to the June invoice submitted by parking operator One Parking, the city collected $170,806.99 in gross revenue during the month and realized $113,977.48 in net proceeds after operating expenses, management fees and other costs. The reporting shows $465,620 in net revenue on the city website.
The June results continue the steady growth city officials highlighted during a June media briefing, when they projected the program would generate approximately $1.1 million in annual net revenue, compared with the original estimate of $1.8 million that was made before the City Commission reduced hourly parking rates from $3 to $2 and approved free permits for city residents.
June's gross revenue consisted primarily of $154,603.87 in hourly parking receipts, along with $11,056 in permit revenue and $5,434.50 in parking citation revenue.
Permit sales included 65 new annual non-city resident permits, 192 new city resident permits, 21 third-vehicle city resident permits and six monthly non-resident permits. Additional permit revenue also included parking permits purchased by the Amelia Island Convention and Visitors Bureau and the Fernandina Beach Library.
The report shows motorists purchased 23,393 hourly parking sessions during June. Two-hour parking remained the most popular choice, accounting for 9,717 transactions, followed by one-hour parking with 9,033 transactions and three-hour parking with 3,226 transactions.
Operating expenses for the month totaled $53,167.54, including parking management, enforcement, customer service, payment processing and other program costs.
The city also remitted $3,661.96 in sales tax generated from taxable parking transactions in surface parking lots.
City officials have said revenue generated by the paid parking program is restricted to the Parking Special Revenue Fund and may be used only for parking, downtown and waterfront improvements, maintenance and related capital projects.
Potential future uses include waterfront maintenance, downtown infrastructure improvements, parking enhancements and projects associated with the city's waterfront redevelopment plans, although no specific projects have yet been approved for funding.
The paid parking program remains the subject of political debate and is on the Aug. 18 ballot as a referendum on whether voters want to continue the program.
Comments
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Mark Tomes
With the summer tourist season in full swing, I wonder if any of the dire predictions made by some people opposed to the paid parking program have come true, such as dramatically decreased business downtown. I really have no idea one way or the other, but it seems like a good subject for an article to supplement the statistics on the program's income and expenses.
Friday, July 10 Report this
PaulaM
Like it or not it makes money..
Friday, July 10 Report this
GDecker
At last, visitors are actually contributing to city upkeep rather than free-loading on residents largess--maybe the message will sink in before 8/18--one can hope. Let's share the burden not carry it alone.
Friday, July 10 Report this
SaltyLocal76
I visit downtown everyday of the week, usually multiple times and from what I've seen paid parking is taking a major toll in a few ways. I'd say downtown has been emptier, but to be fair it's been hot as Africa for awhile. What's happening on the outskirts of the paid parking area is a shame. People not wanting to pay are parking a couple blocks away. They're parking in people's yards, lots and properties without concern. Several vehicles will usually block vision of roads at stop signs. A lot of people have zero regard for where they park as long as it doesn't cost them anything. Church lots and spots are full of cars, leaving parishioners to have park even further out. It isn't a blessing to struggle to find a spot and then walk extra long in church attire only to be pressed for time and sweaty when you get into a service or function.
For all the people that champion the paid parking, we get it, you don't go downtown. Your trumpet has been heard. Paid parking is not going to be voted out by citizens. We only get a small say on if they expand paid parking everywhere such as public parks & beaches. We've been duped!
Saturday, July 11 Report this
SaltyLocal76
I'd like to point out that the revenue is only half of what they said it would be at this point, not even a $100,000 a month since it rolled out in February. I'm sure if you surveyed the locals who live or have businesses in a few block radius they'd tell you it isn't worth it. In reality though what it has done for locals like me who don't have to pay is provide front door parking to whatever establishment I'm visiting whenever. So from a selfish side, thank you paid parking for providing locals celebrity parking all the time.
Saturday, July 11 Report this
AcurtNA63
Don't care if it covers the budget, it is still a bad idea!
Sunday, July 12 Report this