Royal Oak targets the parking system to increase revenue

Royal Oak is looking for ways to increase revenue due to a major budget crisis on the horizon. The latest revenue target is the parking system. Royal Oak is home to hundreds of parking meters and three city-owned parking garages. In hopes of making up lost revenue, parking meters will increase their hours of operation, and rates for at least one parking garage will increase by 66 percent.

The 2010-2011 budget year, which begins on July 1, is looking bleak due to a $179-million decrease in property values. As a result, the City Commission has decided to lay off 43 Royal Oak employees. Of the 43, 16 are police officers and 14 are firefighters.

The city's parking meters, which were in operation from 10 a.m. to 10 p.m., will now run from 11 a.m. to 11:59 p.m. The rates will remain at 50 cents per hour until 5 p.m. and 75 cents per hour after. The Center Street Parking Structure will cost $5 for the entire evening after 5 p.m., and the Lafayette and Fifth & Lafayette structures will remain $3 for the evening.

The City Commission estimates an additional $300,000 in revenue annually now that the changes have been put in place. For now, parking will remain free on Sundays.

Sources:

http://www.crainsdetroit.com/article/20100520/FREE/100529985#
http://www.candgnews.com/Homepage-Articles/2010/06-02-2010/Parking-meter-midnight.asp
http://www.downtownroyaloak.org/map.html
http://theoaklandpress.com/articles/2010/06/10/news/local_news/doc4c11bc9d77faf226362516.txt