FY 2019-20 Parking Permit Fee Increase FAQs
FY 2019-2020 Parking Permit Fee Increase FAQs
- Why are parking rates increasing?
As an auxiliary entity, the primary source of parking revenue is through permit sales, and we rely on this income stream to support all parking operations, maintenance and debt service for new construction across both campuses.
In May 2019, we proposed an average 4.5 percent increase for student and employee parking rates for FY 2020. For employees, this translates to an additional $3.50 per month for standard permits and $9 per semester for adjunct permits. Students can expect an additional $10 per semester for commuter permits and $17.50 per semester for 6-month housing permits. Additionally, the event parking rate will increase from $10 to $16.
- 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.
- What did last year’s (FY2018) increase support?
The parking increase implemented in 2018 helped support several large and small-scale facility projects, to include but not limited to:
- D Deck renovations, ongoing
- West Main St. Deck renovations, to be completed in summer 2019
- Enhanced security by RMC Events at designated remote lots, ongoing
- What will the FY2019-20 rate increase fund?
In addition to such annual operating expenses as security and enforcement, ongoing maintenance, lease increases, equipment and increasing operational costs, the rate increase will also support:
- Deferred maintenance/capital renewal needs – In 2018, we completed a maintenance assessment for each of our on campus parking decks which revealed nearly $9 million (roughly $2 million yearly) in maintenance needs over the next five years. In the coming year, we will begin to address the immediate and year one maintenance needs that resulted from these assessments. While the scope of work will vary across facilities, each on campus parking deck is expected to be impacted.
- Transportation services – Shuttle costs for service to/from our remote facilities (A, I, R, lots) is funded solely by parking permit revenue.
- Technology upgrades – Later this year, we will implement pay-by-phone technology at our hourly parking facilities, eliminating the need for customers to visit pay station. As part of this service, customers will have the capability to pay/renew their parking on a mobile device.
- How are the parking rates determined?
We forecast the annual costs for operations, lease agreements, maintenance and overhead, comparing these figures against revenue to ultimately determine an adequate price point that satisfies our revenue, expense and repair balance.
- When will the rate increase take effect?
The 4.5 percent rate increase will take effect on July 1, 2019. For students, the increase will be reflected in the fall 2019 student parking sales. VCU employee subscribers will see the increase reflected on their Aug. 1 paycheck and VCU Health System employee subscribers will see the increase reflected on their July 26 paycheck.
- Will this increase fund the GRTC pilot program?
No, the increase in parking fees will not be used to fund an agreement with GRTC.
- Doesn’t the cost of what staff, faculty and students pay to park currently cover all of Parking and Transportation’s costs?
Yes; however, as operating and maintenance costs continue to increase, we need additional resources to sustain parking operations.
- How is parking funded?
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. The Campus Connector is funded by E&G funds, and RamSafe is funded through the student university fee.
- Do parking operations generate a profit for the department?
No, parking operations do not generate profits.
- Will there be an increase next year?
It is likely as costs rise each year. Each spring, we review and evaluate yearly operating costs as well as our ability to sustain services.
- What other options do I have if I want to cancel my parking?
We recently launched “Reboot Your Commute,” an initiative designed to offer incentives for employees who make the commitment 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. As part of this program, VCU is offering $100 to the first 100 employee parking subscribers who return their VCU parking permit or register a carpool/vanpool. 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.
In addition to the “Reboot Your Commute” program, we also offer several alternative options for the VCU community, to include ZimRide, ZipCar, and a pilot program with GRTC for both students and employees.
- What steps are Parking and Transportation taking to ensure that there is adequate parking available for our growing campus?
As the university continues to expand its footprint, so does the need for parking and transportation services. In 2017, we hired the services of consultant firm Kimley Horn to evaluate all aspects of the department, to include: parking demand, new parking sites, neighborhood parking concerns, transit operations, budgetary and business needs, and new/existing partnerships. This assessment was concluded in 2018.
We have since reviewed these findings and are working with leaders across the university and health system to develop solutions to increase parking availability as well as reduce parking demand. Also to reduce parking demand, we hired an alternative transportation coordinator who will coordinate all aspects of VCU’s alternative transportation system. In addition to strengthening our existing transportation options (ZimRide, ZipCar, RamBikes), this individual will also work to develop strategies to expand the number of employees and students traveling via alternative means.
- 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 protected] or 828-PARK (7275). We also always welcome your feedback on how we can improve. Please reach out to us with your suggestions as well.
Categories General News