1. 1 Financing Future Parking Growth Options For Financing Parking In Accordance With The 2005 Walker Parking Consultants Findings And Recommendations

2. 2 Pertinent Facts Today parking is a self supporting subsidiary with only two sources of revenue: Permit Sales Citation Revenue Parking is a UNIVERSITY RESOURCE being used by the community but paid for by faculty, staff, and (primarily) students

3. 3 More Pertinent Facts Approximately 800,000 tickets are sold for events on campus each year Estimated 68,000 USA concert/Performing arts Remaining 732,000 are football/basketball/baseball Parking does not get any event parking revenue Federally funded parking does not contribute to system Park and Pay operations are not universally distributed across campus today

4. 4 Option 1: No parking growth and continue with current parking and price structure (3% cost of living increase only) Easiest option to implement...parking permit prices will only keep pace with inflation Doesn’t allow for conditions during MS Freeway construction...700-900 cars per day could come to us for parking Doesn’t allow for SGA altering off campus bus service...average daily ridership of 3,500+ per day

5. 5 Option 1: Effects on permit price CurrentFY06FY07FY08 Satellite$75$77$79$81 Commuter$118$122$126$130 Residence Hall$139$143$147$151 Surface Area Reserved$139$143$147$151 Garage Area Reserved$268$276$284$293 Surface Reserved$401$413$425$438 Garage Reserved$428$441$454$468 Summer Student$48$49$50$52 Summer Garage$107$110$113$116 Park and Pay$1.00 $1.25

6. 6 Option 2: Plan/construct 2nd parking garage and expand satellite parking using only existing sources of revenue with expanded park and pay Permit prices go up significantly over several years Students bear brunt of increase Lower paid employees may not be able to keep up Parking in commuter/satellite seen as negative Across the board flat rate increase Achieving parity sends FS rates up even more

7. 7 Option 2: Effects on permit price CurrentFY06FY07FY08 Satellite$75$95$118$122 Commuter$118$150$186$192 Residence Hall$139$177$219$226 Surface Area Reserved$139$177$219$226 Garage Area Reserved$268$340$422$435 Surface Reserved$401$509$631$650 Garage Reserved$428$544$675$695 Summer Student$48$61$76$78 Summer Garage$107$136$169$174 Park and Pay$1.00$1.20$1.25$1.50

8. 8 Option 3: Plan/construct 2nd parking garage and expand satellite parking using additional sources of revenue and 5% across the board rate increase $2 per ticket parking surcharge on every event ticket sold on campus Excludes student discounted tickets 2 nd level benefits of surcharge Events not selling tickets handled on case- by-case basis Income from “Park and Pay” machines is generated after first year

9. 9 Option 3: Effects on permit price CurrentFY06FY07FY08 Satellite$75$79$83$87 Commuter$118$124$130$137 Residence Hall$139$146$153$161 Surface Area Reserved$139$146$153$161 Garage Area Reserved$268$281$295$310 Surface Reserved$401$421$442$464 Garage Reserved$428$449$471$495 Summer Student$48$50$53$56 Summer Garage$107$112$118$124 Park and Pay$1.00 $1.25

10. 10 Option 4: Plan/construct 2nd parking garage and expand satellite parking using parking surcharge revenue and raise permit to ‘near’ market rate by 2009 Answers Walker Parking’s recommendation to increase parking rates Achieve parity between F/S and Student Set all rates at “market value” Three models considered: Residence Halls as pivot point (much too low) Satellite parking break even as anchor point A ‘happy medium’ where satellite is capped at arbitrary $100

11. 11 Option 4: Parity and Satellite Break-Even Effects on permit price CurrentFY06FY07FY08 Satellite$75$101$136$163 Commuter$118$134$181$217 Residence Hall$139$179$241$288 Surface Area Reserved$139$246$331$397 Garage Area Reserved*$268$492$662$793 Surface Reserved$401$746$831$897 Garage Reserved$428$992$1,162$1,293 Summer Student$48$67$90$108 Summer Garage$107$134$181$217 Park and Pay$1.00 $1.25$1.50 Bus Fare** $45.00

12. 12 Option 4: Parity and $100 Satellite Cap Effects on permit price CurrentFY06FY07FY08 Satellite$75$83$92$100 Commuter$118$110$122$133 Residence Hall$139$147$163$177 Surface Area Reserved$139$202$224$243 Garage Area Reserved*$268$404$448$487 Surface Reserved$401$702$724$743 Garage Reserved$428$904$948$987 Summer Student$48$55$61$67 Summer Garage$107$110$122$133 Park and Pay$1.00 $1.25$1.50 Bus Fare** $45.00

13. 13 Option 5: 3% cost of living increase, event surcharge for non-athletic events, expanded park and pay Will be unpopular with Visual and Performing Arts Generates, at most, an additional $120,000 revenue Will not fund additional surface parking or garage debt service

14. 14 Option 5: Effects on permit price CurrentFY06FY07FY08 Satellite$75$77$79$81 Commuter$118$122$126$130 Residence Hall$139$143$147$151 Surface Area Reserved$139$143$147$151 Garage Area Reserved$268$276$284$293 Surface Reserved$401$413$425$438 Garage Reserved$428$441$454$468 Summer Student$48$49$50$52 Summer Garage$107$110$113$116 Park and Pay$1.00 $1.25

15. 15 Options 1 through 4: Bottom Line Comparison CurrentOption 1/5Option 2Option 3Option 4 Satellite$75$81$122$87$100 Commuter$118$130$192$137$133 Residence Hall$139$151$226$161$177 Surface Area Reserved$139$151$226$161$243 Garage Area Reserved$268$293$435$310$487 Surface Reserved$401$438$650$464$743 Garage Reserved$428$468$695$495$987 Summer Student$48$52$78$56$67 Summer Garage$107$116$174$124$133 Park and Pay$1.00$1.25$1.50$1.25$1.50 Bus Fare** $45.00

16. 16 Recommendation Adopt Option 3 Event parking surcharge Expanded park and pay No more than 5% increase in permit prices Makes all parking fall under one department Solves issue of who pays for shuttles for athletic events Provides latitude to charge CVPA less for their events