New parking meters mean increased revenue for Indianapolis 8.10.11

WTHR

INDIANAPOLIS - Love it or hate it, Indianapolis' new privatized parking meter system is spreading throughout the downtown area. It's also increasing revenues for the private contractor and for the city.
For 30 years the city's meters looked the same, and the rates did not go up. That all changed in March when ParkIndy took over the meter system. It has meant a learning curve for drivers and increased city revenues.
Credit cards are now the preferred method of paying for parking at the meter. While convenience has increased, so has the hourly rate - by 25 cents. It now costs $1 per hour, and that will eventually go up to $1.50.
Amy Peddycord is "happy that there's an updated system. It's just, on a day to day basis, it's difficult to get tickets to have friends that aren't able to park in front of my place."
They could park in front of her Mass. Ave. condo, but they'd have to pay. Now meters are enforced until 9:00 pm and on Saturdays.
"Everybody grumbles about it," said Peddycord.
When the parking meter system was leased out, the city received $20 million. ParkIndy then spent $4 million on upgrades, including new signs and parking meters. The city still receives a cut of proceeds from parking and tickets.
From March to June 2010, meters produced more than $1.2 million. After expenses, $108,000 went into city coffers. During the same period this year with ParkIndy, revenue has increased to more than $1.6 million and the city's cut is nearly $500,000. That's a net increase of 360 percent.
"We were paying a lot of money to upgrade meters, to maintain meters to enforce that. That's all being taken care of by the ParkIndy team now. The city is now receiving the revenue which we can then put back into the meter areas through improved streets, sidewalks and other infrastructure improvements," said Marc Lotter, spokesman for Mayor Greg Ballard.
"I am happy with the new modernization and the convenience. I believe it's a convenience," said Marsha Regenstrief, Indianapolis resident, who is also pleased to hear the city is making more money.
It's a money maker from fines and fees paid for by anyone who parks downtown.
"It's a pain for me personally. I understand growing pains downtowns make. I've just had to pay a lot more money!" said Peddycord, who paid about $1,000 last year in parking tickets alone.
Eyewitness News has heard a lot of people complaining about aggressive enforcement. We asked city officials for the number of citations issued so far with ParkIndy. They said that information would not be available until next week.
http://www.wthr.com/story/15245907/new-parking-meters-mean-increased-revenue-for-indianapolis