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 | ||