![]() | Board of Visitors minutes March 21, 1986 | ![]() |
UNIVERSITY OF VIRGINIA
Construction: Parking Garage and Utilities
Estimated et Annual Revenue Available for
Debt Service on $5,000,000 Bond Issue
500 spaces X $240/yr. = | $120,000 |
142 spaces X $792/yr. = | $112,464 |
Estimated Expenditures Other Operating Expenses | 35,000 |
Net Revenues Generated | $197,464 |
Subsidy from Other Parking and Tranait Operations (See Note A) | 407,536 |
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Total Net Revenues | $605,000 |
Note A: Additional revenues will need to be generated by Parking and Transportation for the 642 Car Parking Garage in the amount of $407,536. These additional revenues will be raised by a $2/month increase in reserve and oversold parking spaces. This will generate $127,824 annually (5,326 X $24). Student parking rates will be increased from $18 to $50 per year and will generate an additional $150,080 annually (4,690 X $32). The remaining $129,632 will come from Traffic Fines and Visitor Parking revenues previously committed to renovation and replacement reserves.
Office of Budget and Planning January 16, 1985
![]() | Board of Visitors minutes March 21, 1986 | ![]() |