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Colonial Parking report shows revenue mixed; committee weighs rate structure, lighting and new bike lockers
Summary
Colonial Parking reported March revenue slightly ahead of budget but below last year; committee discussed contract-to-transient parker shift, possible rate consolidation, lighting changes, bike lockers installation and a rebid for Bicentennial garage membrane.
Chris Hankins, Colonial Parking, reviewed March garage performance and operational items before the West Chester Parking Committee. He reported March revenue of $213,744 and said the figure was “a bit better than budget” but below February and March 2024 levels. Year-to-date revenue was reported as $568,512 against a $625,000 annual budget. Hankins said March operating expenses for both garages were $65,861 and exceeded the month’s budget, driven in part by Colonial’s three‑pay month timing in March.
Hankins said contract parking has shifted: in March 2024 contract revenue had exceeded transient revenue, but “the transient revenue makes up a larger portion of the total revenue” this March, indicating some monthly permit holders are opting for daily parking…
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