Optimize Your Parking Assets to Boost Revenue

Learn how to run an effective parking system in your community that considers revenue and customer service tradeoffs.

An improperly run parking system, perhaps more than any other public asset, has a very real impact on the life of citizens and the success, or not, of a business district. Many public officials do not completely understand the cost of parking, and thus the revenues needed to maintain a healthy, vibrant, and revenue positive program. Parking, when operated and executed properly, can often be self-funded and even contribute monies to the general fund, rather than being a funding drain. This topic helps those responsible for parking decisions understand the cost of parking and how to optimize parking revenues in order to cover debt service, repairs and maintenance, and operating costs. Learn the optimal methods of parking provider procurement and elements of contract negotiation which may not be inherently clear in public parking operations. Even self-operated parking programs face line item expense issues, which when minimized, deliver the same end result as revenue gains. Whether your agency has structured parking at the beginning or end of a life cycle, street parking, or any type of parking asset, this workshop is critical in optimizing parking revenues for the benefit of your community.

Learning Objectives

• You will be able to define how parking should be priced and operated by asset type.
• You will be able to identify areas for improvement within your parking system.
• You will be able to recognize opportunity for revenue growth and expense reduction.
• You will be able to review the performance of your parking system to best practice benchmarks.