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Parking Financial Activity

Gross Revenues, Gross Expenses and Net Revenues


July 2011 through June 2014

Parking Financial Activity - July 2011 through June 2014


$60,000

Dates

Gross Revenue
Jul-11 $
41,739
Aug-11
36,794
Sep-11
30,158
Oct-11
32,151
Nov-11
29,216
Dec-11
21,912
Jan-12
26,908
Feb-12
31,466
Mar-12
49,437
Apr-12
50,255
May-12
41,967
Jun-12
40,126
Jul-12
42,344
Aug-12
36,478
Sep-12
34,652
Oct-12
30,946
Nov-12
26,403
Dec-12
16,225
Jan-13
27,086
Feb-13
34,355
Mar-13
44,285
Apr-13
43,803
May-13
42,051
Jun-13
35,739
Jul-13
42,526
Aug-13
36,111
Sep-13
35,291
Oct-13
34,507
Nov-13
42,459
Dec-13
22,656
Jan-14
32,288
Feb-14
26,841
Mar-14
36,478
Apr-14
42,129
May-14
41,220
Jun-14
42,936

Gross Expenses
Net Revenues
$
23,500 $
18,239
22,338
14,457
23,349
6,809
22,675
9,477
22,400
6,816
20,845
1,067
22,308
4,600
22,683
8,783
25,393
24,044
25,730
24,525
24,423
17,544
23,921
16,205
24,528
17,816
23,665
12,813
24,794
9,858
23,071
7,875
22,066
4,337
21,375
(5,150)
25,141
1,945
21,684
12,671
22,782
21,503
23,282
20,521
23,276
18,775
23,355
12,384
24,243
18,283
23,226
12,885
23,340
11,951
24,545
9,963
25,367
17,092
22,513
143
26,937
5,351
26,524
317
24,570
11,908
24,850
17,279
25,133
16,087
26,002
16,934

Jul-11
Aug-11

Oct-11
Nov-11
Dec-11
$40,000

Jan-12
Feb-12
Mar-12
Apr-12

$30,000

May-12
Jun-12
Jul-12
$20,000

Aug-12
Sep-12
Oct-12
Nov-12

$10,000

Dec-12
Jan-13
Feb-13
$-

Mar-13
Gross Revenue

Gross Expenses

Net Revenues

Apr-13
May-13

$(10,000)

Note 1: The highlighted months above represent months affected by the 2 hour free parking.
The following analysis assumes that the 2 hours of free parking is applied year round.
Average monthly Gross Revenues during Holiday months $
Average monthly gross revenues - annualized $
1st Year Costs from SP+ Proposal (excluding est management fee)
Management Fee based on flat fee of $2,500 per month
Estimated annual net profit to City $

Sep-11

$50,000

27,239.16
326,869.87
(236,311.00)
(30,000.00)
87,798.02

Parking Activity During the Holiday Season - 2 Hour Free Parking


FY 2012 through FY 2014
50,000

40,000

Note 2: Assuming the above scenario of 2 hours free parking all year, and reducing by 50% the
violation revenue (which would not occur, but is the most conservative estimate)
for the purpose of analyzing the effect on the net revenues.
30,000

FY 2014 Violation revenues (19% of Gross Revenues collected) $


50% of violation revenue
$
Average monthly violation revenues
$

89,254.22
44,627.11
3,718.93
Gross Revenues

Average monthly Gross Revenues during Holiday months $


Less: Average monthly violation revenue lost
Revised Average net monthly
$

27,239.16
(3,718.93)
23,520.23

Revised Average net monthly annualized


$
1st Year Costs from SP+ Proposal (includes management fee)
Estimated annual net to City $

282,242.76
(266,311.00)
15,931.76

Conclusion: The above analysis of the two (2) different scenario's still provide sufficient gross
revenues to cover the cost of the Parking Management Company, including the
management fee as contained in the SP+ proposal. The impact from applying 2 hours
of free parking and reducing the amount of violations issued (and consequently
effecting the violation revenue) would affect the net parking revenues retained by the
City and thereby reduce the avenue of providing resources to Main Street and the
Redevelopment Commission.

20,000

Gross Expenses
Net Revenues

10,000

(10,000)