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Parking authority nets $3M in revenue
Meter revenue contributed $5.4 million. (JOE BRYKSA / FREE PRESS ARCHIVES)
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The Winnipeg Parking Authority generated $3 million in net revenue in 2011, according to financial statements included in special operating agency's business plan.
The WPA posted gross revenues of $16.4 million and $13.4 million worth of expenses last year, according to the financial statements.
Parking fines generated the bulk of the revenue, $7.3 million. Meter revenue contributed $5.4 million, the Millennium Library Parkade generated $1.4 million and city-owned surface lots provided $1.1 million.
The $3 million worth of net income last year increased the WPA's accumulated surplus to $14.6 million. Some of this money is earmarked for streetscaping in the Exchange District, a $5-million loan to help build a new privately-owned parkade east of the Centennial Concert Hall and $3.3-million worth of improvements to the city-owned Millennium Library parkade.
The parking authority no longer has plans to fix the aging Civic Centre parkade, whose future is uncertain after the Winnipeg Police Service vacates the Public Safety Building. It's possible the site will be placed up for sale.
The parking authority has also changed rules for residential parking permits that allow unlimited on-street parking for people who live on the streets in question. The passes now only permit parking on nearby streets, not entire parking zones.
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