Regan wants parking fees to finance projects

After a year-long study by City staff, the commission has agreed to a fee increase for daily users of the Historic Downtown Parking Facility; granting a break for local residents who are holders of a ParkNow card which are sold by the City Finance Department.

Parking facility staff reported that more than 91% of visitors parking in the facility are from outside St. Johns County. For them, the “all day” rate will increase $7.50 to $10.00.

Regan said he expects the rate increase to generate an estimated $1,050,000 in new revenue each year.

The City proposes to use the extra income as follows:

$450,000 – service existing debt on the parking facility
$207,000 – pay new $2 million share of seawall debt (pay for 10 years)
$ 65,000 – pay new $195,000 debt to remodel Visitor Center for exhibits (pay for 3 years)
$328,000 – pay new $1.3 million debt for 450th commemoration (pay for 4 years)

If you are a ParkNow cardholder, you will be charged a discounted $1.00 daily rate, or, you can purchase a proximity card for $32.00 per month.

The change was proposed by City Manager John Regan and endorsed by the city’s Parking and Traffic Committee.

Photo credits: © 2011 Historic City News staff photographer