Parking Permit Fee Increase FY21-22 FAQs
- Why are parking rates increasing?
As an auxiliary entity, the primary source of parking revenue is through permit sales. We rely on this income stream to support all parking operations, maintenance and debt service for new construction. In May 2021, we proposed an average 2.4 percent increase for student and employee parking rates for FY21-22. For employees, this translates to an additional $2 per month for standard permits and $5 per semester for adjunct permits. Students can expect an additional $10 per semester for commuter permits and $14 per semester for 6-month housing permits.
2. What is the total price I can expect to pay for my permit for the upcoming fiscal year?
The new rate structures for faculty, staff and students can be found online at https://parking.vcu.edu/parking/faculty-and-staff/options-and-rates/.
3. What did last year’s (FY2020) increase support?
The parking increase implemented in 2020 helped support several large and small-scale facility projects, including but not limited to:
- D Deck renovations, to be completed in June 2021
- All maintenance work from recent deck assessments for up to three years
- Launch of a mobile payment solution
- Resealing and/or restriping of 13 surface lot facilities on the Monroe Park Campus
4. What will the FY2021-22 rate increase fund?
The increase will sustain annual operating expenses, such as security and enforcement, ongoing maintenance, lease increases, equipment and increasing operational costs.
5. How are parking rates determined?
We forecast the annual costs for operations, lease agreements and maintenance and overhead and compare these figures against revenue to determine a price point that satisfies our revenue, expense and repair balances.
6. When will the rate increase take effect?
The FY2021-22 rate increase will take effect on July 1, 2021. For students, The fall 2021 student parking sales will reflect the increase in the fall 2021 student parking sales. VCU employee subscribers will see the increase reflected on their July 30, 2021, paycheck.
VCU Health System assumes any parking rate increases issued to permit holders by VCU Parking and Transportation until June 30, 2023.
7. Will this increase fund the GRTC program?
No; the increase in parking fees will not be used to fund the agreement with GRTC.
8. Doesn’t the cost of what staff, faculty and students pay to park currently cover all departmental costs?
Yes; however, as operating and maintenance costs continue to increase, additional resources are needed to sustain parking operations.
9. How is the department funded?
VCU Parking and Transportation is a self-supporting unit. The department’s parking operations are funded by permit sales, pay-per-use revenue, and special event parking revenue. RamRide is funded through parking subscription revenue and a contribution from VCU Health System. The student university fee funds RamSafe.
10. Do parking operations generate a profit for the department?
No, parking operations do not generate profits.
11. Will there be an increase next year?
Each spring, we review and evaluate yearly operating costs as well as our ability to sustain services. As operational expenses rise yearly, permit cost increases are likely.
12. What other options do I have if I want to cancel my parking?
We launched “Reboot Your Commute,” an initiative designed to offer incentives for employees who commit to carpool or use alternative transportation to get to work. Reboot Your Commute consolidates resources offered through VCU, VCU Health System and GRTC to make it easy for subscribers to find the alternative transportation plan that’s right for them. Additionally, all employees who register will also receive 12 free daily parking passes each year to use at any VCU pay-as-you-go parking deck. Visit commute.vcu.edu to view resources, plan your commute, register and calculate your savings.
13. What steps are VCU Parking and Transportation taking to ensure adequate parking is available for our growing campus?
As the university continues to expand its footprint, so does the need for parking and transportation services. We hired the services of a consultant firm to evaluate all aspects of the department, including parking demand, new parking sites, neighborhood parking concerns, transit operations, budgetary and business needs, and new/existing partnerships.
We have since reviewed these findings and are working with leaders across the university and health system to develop solutions to increase parking availability and reduce parking demand. We have also hired an alternative transportation coordinator to coordinate all aspects of VCU’s alternative transportation system. In addition to strengthening our existing transportation options (Zimride, ZipCar, RamBikes), this individual will also develop strategies to expand the number of employees and students traveling via alternative means.
14. I have a concern regarding parking operations in my assigned facility; who can I contact?
For questions or concerns regarding our parking facilities, please contact us by email at email@example.com or phone at 828-PARK (7275). We always welcome your feedback on how we can improve. Please reach out to us with your suggestions.