Posted by
Royjay on Aug 22, 2012 in
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[PORTLAND BUSINESS JOURNAL]
The city of Portland has finally signed a three-year contract that gives control over the city’s public parking garages to a Nashville garage operator.
Central Parking System Inc., working in a joint venture with Portland entrepreneur Roy Jay, will manage and operate the city’s six SmartPark garages. Central Parking had won a recommendation to manage the garages last year before the city, after outcry from local management candidates asked the city to reconsider.
After mulling over the contract further and soliciting input from downtown retailers, Portland’s city council again awarded the contract to Central Parking. The garages generate roughly $30 million in revenue each year for the city.
Central Parking System will receive $172,000 annually to manage the garages. The contract includes incentives for revenue production and cost containment, said Ron Geason, a business service manager for the city’s transportation department.
StarPark, which had held the contract for the last seven years, received a flat $625,000 management fee.
Central Parking System operates parking facilities for nearly 60 cities nationwide, including facilities in Seattle and New York.
Portland’s garages hold 3,825 spaces.
