Sat. 3:02pm: Money woes continue for parking deck
WARREN – The $2.6 million Franklin Street Parking deck has not earned a profit in the last five years, according to its operator.
It’s a trend officials are looking to buck.
On March 31, Warren Parking Systems LLC will complete a three-year, $213,000 contract to operate the four-story, 418 -space deck, as well as the city’s two downtown surface lots; it also monitors parking in the downtown central business district. The city has not put out a new bid proposal for the contract.
Anthony Iannucci Jr., president of WPS and the executive director of Warren Redevelopment and Planning Corp., said that shortly after being awarded the 2006 contract he did several things to lower expenses, including reducing the number of hours the street parking monitors work from 80 hours per week to 60 hours per week. WPS was created under WRAP specifically to oversee downtown parking.
Still, from 2008 to 2012, the deck’s operational expenses were $250,978, averaging $50,159 per year. During that period it earned $84,068, averaging $16,814 per year. In 2013, the deck is projected to earn $32,031.
Read the complete story in Sunday’s Tribune Chronicle and at tribtoday.com.