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Council hears parking revenue gains but warns of lost spaces as Selmon-area lots go offline
Summary
City parking revenues exceeded expectations in FY26 after rate changes, but council members were told key surface lots and event-area garage agreements may leave up to 900 spaces and a $1.5M revenue guarantee at risk while negotiations with the arena/Lightning continue.
City parking officials told the Tampa City Council during a budget workshop that parking revenues outperformed projections in FY26 but that FY27 projections dip because several high-volume surface lots and event garages will be offline for redevelopment and renegotiation.
"We started this year at 43,000,000 for the biggest revenue account ... and it's showing the contributors that drove the increase to the projection," said the budget analyst presenting the slides. Parking director Fed said the Selmon-area surface lots and several regional lots "They're basically will be offline for right now, the next 18 months." Council members expressed concern about the temporary loss of those revenue-generating spaces and asked what would replace them.
Deputy Chief Financial Officer Mike Perry explained the city's long-standing parking revenue-sharing agreement with the arena and related debt: "The parking revenue sharing agreement was put in place primarily to support 2 debt issuances. Series 1996 and a series 1998 b," he said, noting the pact included a $750,000 base payment and a capped revenue share up to $1.5 million. Perry added the city has covered shortfalls in past downturns from the general fund.
Council members pressed the administration on whether the city will regain surface-lot capacity and how renegotiations might affect the parking fund. Fed said some lots may be converted to public-use spaces in a master plan and the administration is negotiating coterminous agreements with the Lightning and arena operators; he cautioned not all spaces are guaranteed to return.
The presentation also outlined a proposed $1 million request for a long-term parking master plan to review assets, replenish lost parking capacity and prioritize capital needs such as wayfinding; Fort Brooke Garage wayfinding work already has funding and will go to council in the coming weeks, officials said.
Next steps: councilmembers asked for briefings from administration staff and the chief of staff on the status and timeline of negotiations before finalizing FY27 assumptions for parking revenues.
