1. Michael Klein, CAPP
Executive Director Albany Parking Authority
Progressive On-Street Rates Eliminate Time Limits, Enhances
Customer Service, Generates Turnover, Supports Economic
Development, and Improves the Bottom Line
Presented at the June 2012 IPI Conference and Exposition
Implementing On-Street
Market Based Rates
17. • The right price is the lowest price for ~ 85% occupancy
• The right price will vary by block, time and day of week
• Parking is like a spot market in land rental
Credit: Don Shoup
Right Pricing
45. • Complaints of the 2-hour limit – meetings
• Exposed to tickets – want to do the right thing
• Off street parking – not close enough
General
Challenges
46. • Albany is the Capital of New York
• Significant amount of visitors
• State employees – feeding meters
Unique
Challenges
47. • On-street parking for one hour = $1
• Off-street parking is at least $20 for the first hour
• How long would you cruise rather than paying the
higher rate? Credit: Don Shoup
Cruising
50. # of Spaces # of M-S Annual Annual Dollars Projected Investment Payback
Block Face W/O H/C Meters Time Limit
Cash CashKey T`otal
Per Space New Revenue
Per Space
Period
State - Broadway - James - North 5 1 2 HR
$11,926.15 $30.50 $11,956.65
$2,391.33 $358.70 $2,000 5.6
State - Eagle - Lodge - South 21 2 2 HR
$42,957.25 $108.25 $43,065.50
$2,050.74 $307.61 $952 3.1
State - Green - Broadway - South 6 1 2 HR
$13,394.65 $41.25 $13,435.90
$2,239.32 $335.90 $1,667 5.0
State - Lodge - Eagle - North 26 3 20 MIN & 2 HR
$47,432.45 $344.25 $47,776.70
$1,837.57 $275.63 $1,154 4.2
State - Lodge - Pearl - South 25 3 20 MIN & 2 HR
$55,383.00 $251.25 $55,634.25
$2,225.37 $333.81 $1,200 3.6
State - Pearl - Green - South 8 1 1 HR
$15,004.05 $105.25 $15,109.30
$1,888.66 $283.30 $1,250 4.4
State - Pearl - Lodge - North 10 1 2 HR
$23,523.55 $107.75 $23,631.30
$2,363.13 $354.47 $1,000 2.8
Grand Total or Average 101 12 $209,621 $988 $210,609 $2,085 $312 $1,188 3.8
Phase 1
Budget Plan
51. Budgeted for 15% revenue increase
Phase 1
0
200
400
600
800
1000
1200
1400
COST PER SPACE PROJECTED NEW
REVENUE
PAYBACK PERIOD
Series1
52. Phase 2
• Budgeted for 15% increase
• Better indicator due to 1:1 replacement
• Actual increase 29%
54. • Budgeted CAPEX of $10,000/MSM
• Meter (installed)
• Signs (installed)
• Parking Ambassador program
• Marketing
55. Budgeted OPEX - no change
• Increase in back office expense
• Credit/Debit Card processing costs
• Decrease cost in labor
• Various puts and takes for maintenance
57. • Actual revenue better – due to progressive rate structure
• Actual OPEX – still too early to report on results
58. Future Plans
• Phase 3 – continue migration
• Incorporate Smart Single-space meters
• Pay by cell phone add-on
• Integrated payments & enforcement systems
• Other virtual systems
59. RECAP
• We must be willing to think differently – simpler
• The progressive rate structure WORKS!!!!
• Signage – consistent, clean and simple
60. • Marketing Matters
• Engage and listen to our customers
• Analytical focus – believe in the research
61. THANK YOU FOR ATTENDING
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