Richmond parking increase nets extra $727k - NBC12 - WWBT - Richmond, VA News On Your Side

Richmond parking increase nets extra $727k

Source: NBC12 Source: NBC12

Just over a year ago, the city of Richmond raised parking fees from 75 cents an hour to $1.25 an hour.

Over the last 12 months, the city pulled in $2,091,180. Parking revenues actually increased by 53 percent. The city made an extra $727,096. This is just from parking fees. This figure doesn't include tickets and parking fines.

Hannah works at VCU Medical Center and parks downtown all the time. She and many others had the same question.

“What's it going towards? Is it going towards parking decks?" Hannah asked.

“About $500,000 went back into the general fund and would be used for other city services,” said Sharon North, a spokesperson for Public Works. The rest of the money pays for parking services, capital improvements, and administrative fees.

Parking transactions were also up by nearly 50 percent. North attributes this to the addition of all the pay stations and removal of several pay meters.

She says it means more people were coming downtown during the last fiscal year, and they were not scared away by a rate hike.

“They're parking. They're doing what they need to do, and then they're leaving. That's what the goal is, to have a turnaround in those parking spaces and it's working,” said North.

Public Works says there are currently no additional plans for another rate hike.

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