Last fall we started a process to provide more alternatives to transport people to work in ways other than a single occupant vehicle. As we work on these Active Transportation options, the most common concern we hear revolves around the cost of parking: Why do we have to pay to park here? Where does all that money go?
Seemed like this should be something I should know, so I decided to find out.
As it turns out Parking does not generate profit. Yes, money is collected but it actually covers a variety of expenses. I was shocked to learn that a major snowstorm can cost us $45,000 or more! While some businesses can wait until it stops snowing to clear snow, we are 24/7 and for your safety sidewalks and lots are continuously and repeatedly cleared and salted, while snow from parking garages actually has to be hauled off site.
Here’s a list of where your parking fee goes:
So this begs the question, how do other places in town handle parking if they don’t charge their employees to park? Answer: they do, they just don’t tell them. If parking is owned or leased by an employer, the employee helps to pay for expenses. It may not be a line-item on the pay stub, but they pay for it with fewer vacation days, fewer benefits, smaller raises, something. We have an advantage because we have a choice. If I don’t want to pay, I don’t park and that’s money I save.
Interested in saving money? We’ll be rolling out multiple options this spring that will get you to campus while saving you money.