Office of the Vice President for Global Communications

Tuesday, September 8, 2009

Parking rates revised for FY 2010

The majority of employees will not see an expected rate increase in their campus parking costs in the coming fiscal year because of savings in other areas of parking operations, Executive Vice President and CFO Timothy Slottow told the Board of Regents April 16.

“I’m happy to be able to do this in a year when we know many employees are struggling with a tough economy,” Slottow said.

Parking rates for blue, yellow and orange permits will not see an increase in the fiscal year 2010.

Gold permits, however, will increase 4.5 percent, from $1,381 to $1,443. The new rates will be effective July 1. The parking rates for FY 2010 are the same as this year: blue permits, $611; yellow permits, $141; and orange permits, $70.

In February 2007 Slottow presented the Board of Regents with proposed staff parking rate increases that ranged from 4.3-4.6 percent.

This week, Slottow announced to regents that the university was able to prevent a rate increase for the majority of passes for many reasons, including returned funds on the Ann Street construction project that came in under budget and a redesigned deck and office building for the Thompson Street parking structure that brought the project in roughly $500,000 under budget. Debt stabilization also contributed savings for the parking system. Additionally, when the office building adjacent to the Thompson structure is completed, the Office of Budget and Planning will move into it, eliminating an approximate $100,000 expense for leased space.