Parking Commission to Present Three Plans to Cover Parking Garage Costs (with Video)

On Friday Oct. 20, the Downtown Parking Advisory Commission met to further discuss the new downtown parking plans.

Prior to Friday’s meeting, the Board of Aldermen told the Parking Commission they needed to devise a plan that would allow about 250 parking spaces to remain free to the public while still raising enough revenue to pay for the downtown parking garage.
Tom Sharpe, the chairman for the committee, says they will present three alternatives to Mayor Tannehill and the Board of Aldermen at the next meeting on November 7.
“We are going to give them all three choices, and we’re going to tell them what our order of priority is,” Sharpe said. “And, of course, we said any of them would work. They have advantages and disadvantages, and it will be up to the Mayor and Board of Aldermen to make the final decision.”
After much discussion and review, the Parking Commission decided Alternative I would be the plan they recommend as the best option for the downtown parking garage and new lots.
Alternative I includes:
Three parking lots that will be free to the public, which include the OPC Lot with 131 spots, the Jefferson Avenue Lot with 92 spots, and the Courthouse Lot with 14 spots. This plan offers 237 free parking spots on the Oxford Square.
All other lots surrounding the Oxford Square will charge $0.75 per hour. The new downtown parking garage will charge $0.50 per hour.
This plan would bring in a total estimated revenue of $1,002,000 per year.
Sharpe says the Parking Commission feels Alternative I has many advantages for Oxford citizens. Alternative I provides more convenient parking locations and the cheapest paid lot expenses.

Another plan, named First Scenario, specifically addresses the Mayor and Board of Aldermen’s concern with providing at least 250 free parking spaces.
First Scenario includes:
Three parking lots that will be free to the public, including the OPC Lot with 131 spots, the City Hall Lots with 103 spots, and the Courthouse Lot with 14 spots. In total, the First Scenario would offer 248 free parking spots. 
All other lots will charge $0.75 per hour and the new parking garage will charge $0.50 per hour. 
This plan would bring in a total estimated revenue of $982,000 per year. 
The final alternative, which the commission views as the most equitable plan for downtown parking, is Alternative II.
Alternative II includes:
Two parking lots that will be free to the public, including the OPC Lot with 131 spots and the Courthouse Lot with 14 spots. 
All other lots will charge $0.75 per hour, and the parking garage will charge $0.25 per hour. 
This plan would bring a total estimated revenue of $958,000 per year. 
All three parking plans will generate enough revenue to cover the annual cost of the parking garage, which is estimated at $780,000.
Construction for the new parking garage is set to begin in January of 2018. The garage will be located on North Lamar Boulevard and Jefferson Avenue.

Savannah Woods is the Lead Social Media Intern for HottyToddy.com. She can be reached at sswoods@go.olemiss.edu.
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