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Norwalk Parking Authority reports year-to-date surplus after strong permit and mobile payments; transient revenue dip linked to Washington Street restaurant and
Summary
The Norwalk Parking Authority reported a year-to-date surplus and a mixed May performance, with permit and mobile payments up while transient revenue fell after a Washington Street restaurant closed and a Webster Lot theater underperformed.
The Norwalk Parking Authority reported it finished May about 5% over budget on total revenue and that year-to-date finances show a surplus, staff said at the authority’s June meeting. Sirak, a finance staff member, told the board the authority had a year-to-date surplus of about $459,000.
The surplus matters because it gives the authority flexibility for operating and marketing activities that support downtown businesses. Sirak said, “For the month of May, overall, we finished 5% over budget” and that year-to-date numbers left “a $459,000 surplus for the year.”
Staff attributed the month’s mixed performance to a decline in transient (short-term) revenue at two specific facilities. “That is mainly coming from Haviland Deck and… the evening and weekend activity was down for a month, and that is due to a major restaurant that closed on Washington Street,” Sirak said, naming the business as Bandida restaurant. He also said the Webster Lot movie theater “was underperforming, and we’re monitoring that closely.”
At the same time, staff reported stronger results from permit sales and mobile transactions. Sirak said permit activity is up in some garages and that overall permit revenue is higher in part because the YMCA lot was not budgeted for this fiscal year and therefore shows as additional revenue. He also reported a roughly 50% month-over-month increase in short-duration (15-minute) transactions tied to mobile payments.
Board members asked follow-up questions about facility-level performance and how changes in downtown activity were affecting revenue. No formal new budget actions were taken at the meeting; the board approved the prior meeting’s minutes by voice vote and later adjourned.
The authority said it will continue to monitor transient revenue at Haviland Deck and Webster Lot and will report results as the marketing and wayfinding efforts discussed separately proceed.
