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From controversy to cash: Fernandina parking revenue grosses $461,000

Posted
By Mike Lednovich

Fernandina Beach’s paid parking program has generated more than $461,000 in gross revenue since launch, with April hourly parking revenue running well ahead of March’s pace, according to One Parking’s latest weekly report to the city.

The report, which tracks revenue through April 21 and citation data through April 22, shows total gross revenue of $461,534.22. That includes $286,210.22 from hourly parking and $175,324 from parking permits.
 

The report does not include that the City of Fernandina Beach has paid approximately $67,500 to One Parking in management fees to date.

April is emerging as the strongest month so far for hourly parking. Through April 21, the city recorded 22,787 hourly transactions producing $118,005.51 in gross hourly revenue. That averages $5,619.31 per day, compared with $4,177.11 per day in March and $2,978.03 per day during the partial February launch period.
 

March remains the highest full-month revenue total to date, with 24,381 hourly transactions generating $129,490.29 in gross hourly revenue. February, which reflected the program’s partial launch period, produced 7,156 hourly transactions and $38,714.42 in gross hourly revenue.

The latest report also shows the city has issued an estimated 8,952 permits. That includes 7,201 city resident annual permits, 1,354 non-city resident annual passes, 246 city resident extra-vehicle permits, 89 permits for city residents living within the paid parking area, 19 non-city monthly passes and 27 whitelisted city vehicle permits. “Whitelisted vehicles” are license plates pre-approved by the city in the parking system, allowing them to park without payment or risk of citation, typically for city, police, emergency, or authorized service use.
 

Non-city annual passes remain the major source of permit revenue, accounting for $167,896 of the $175,324 permit total. Extra city resident vehicle permits have generated $5,904, while non-city monthly passes have produced $1,140.

The figures build on earlier Observer reporting from the program’s first week, when the city reported $100,963 in gross revenue, including $21,533 in hourly visitor revenue and $79,460 in permit revenue. At that time, the city had issued 5,016 free resident permits and 619 non-city resident permits.
 

Citation activity is also beginning to build. Through April 22, One Parking reported 831 citations: 469 paid, 349 issued but unpaid, and 13 in dispute. Paid citations have generated $23,642.

The report repeatedly notes that revenue figures are gross, meaning they do not reflect expenses, management fees or other deductions. The April report of net revenues is expected to be released on May 5.

Comments

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  • Barbarosa

    Please take the time and effort to break all revenue to Net Revenue versus Gross Revenue, e.g., Gross Non-Resident permit sales were at $124 gross per permit, $100 net. While Net on Resident permits is -$24 for the first two. Paid parking is a little more complex, but easily done in a spreadsheet. Also report Citations as Net. Gross revenue overstates system performance.

    Saturday, April 25 Report this

  • Mingnmilo

    If the trend continues, it's going to be huge windfall profit. There is no justification at this point for the City to discontinue the program currently in place.

    This is revenue the city property owners do NOT have to make up in higher taxes so everyone else can park for free. I know this may not be popular, but this is a huge amount of revenue collection which will defray tax increases for those who own business property as well as homes in the City. A year's parking pass is a bargain for those who frequent downtown but are not residents, and paid parking costs are nominal compared to other coastal cities. Overflow parking has always gone into neighborhoods in FB, and the influx of visitors is not going to stop. This is a win for the community to provide for the common good in maintaining infrastructure and offering amenities to the general public instead of discontinuing things like free music concerts downtown.

    Saturday, April 25 Report this

  • SalamiShorts

    I wonder if One Parking would calculate the lost revenue suffered by the businesses located downtown, the downtown workforce reduction in hours, and the tax revenue that would be collected by both? Maybe if we pay them $4 extra an hour they will put that in their next report.

    Sunday, April 26 Report this

  • PaulaM

    Eventually it will become the cash cow it is in other towns all over the country and each year they will raise the rates when they realize how much it generates..a double edged sword…

    Sunday, April 26 Report this

  • Beachstoremike

    Paid parking in Historic Downtown can and should be a simple cost/benefit analysis. Benefit determination is easy; Revenue. Revenue generated is reported on a regular basis and the breakdown from gross to net is transparent. The revenue should be used to benefit both residents and visitors.

    Cost analysis must include impact paid parking has on revenue generated by businesses in Historic Downtown. Currently the only information we have is anecdotal, based on people's opinion or observations. But the data does exist and if paid parking is having a negative impact on businesses that could change the charm and energy of Historic Downtown we need to know. Collecting the data should be simple, anonymous, and impartial.

    It is also important to note that the City of Fernandina Beach does not benefit directly from revenue generate by businesses in the city or employee wages paid. Sales tax collected by businesses is split; 6% to the State and 1% to Nassau County. The city benefits indirectly when the state and county share these taxes.

    Sunday, April 26 Report this

  • Brokerphil

    Thank you Commissioners for weathering the storm and voting for paid parking downtown. Not only is this bringing in revenue to support the downtown but it is easier for locals and tourists to visit downtown and have lunch or shop. The nonpaying locals are getting a little exercise by walking 2-3 blocks to work so it’s healthier for everyone.

    This instills hope for the future to know that doing the right thing is better than just voting to appease the mob fueled by mass hysteria online social media, much of it by non residents. Living on the island does not make you a Citizen of Fernandina Beach. Now is the time for these folks to drop the lawsuit and accept the truth, which is that nice places have expenses that the users should pay for.

    Sunday, April 26 Report this

  • jhorn71

    And yet not one analysis on cost to local businesses

    Thursday, April 30 Report this

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