Indianapolis, Indiana Approves Parking Meter Lease Deal

indianapolis indiana approves parking meter lease deal

Indianapolis, Indiana followed in the footsteps on Chicago, Illinois by deciding on Monday to sell its parking meters to a private company — a decision that has proved highly controversial in the Windy City. The vote was a close one.

The Indianapolis parking meter deal squeaked through the city council 15 to 14. Under the arrangement council members approved, the city will lease out 3700 metered spaces for fifty years for only $20 million up front. The city will get to share in the revenues which, according to city estimates, will bring in $620 million over the life of the lease. The Indianapolis contract, unlike the terms of Chicago’s relatively inflexible deal, does provide the option of opting out of the deal every ten years.

The main player in the lease is Affiliated Computer Services (ACS), a company owned by Xerox, which is the majority stakeholder in a new entity that will oversee the meter system called ParkIndy along with two smaller, local companies. ACS also is a major player in the red light camera and speed camera market.

“Our council had a huge part in enhancing this parking proposal for the benefit of the citizens of Indianapolis, and our city should be proud of that,” Mayor Greg Ballard said in a statement. “The ParkIndy team is committed to improving our parking system in a way that will spur economic development and will result in more convenient parking options for residents and visitors. ACS also will contribute to our local economy by bringing 200 additional jobs to Indianapolis over the next two years.”

Although the lease passed, many people attending the council meeting were unhappy enough to boo loudly after the votes were tallied according to a report from the Indianapolis Star.

ParkIndy will soon begin installing new electronic pay boxes to replace the standard single head meters in Indy, much like LAZ/CPM did in Chicago. Once the new meters are installed, meter rates will increase.

[Courtesy: Thenewspaper.com/The Expired Meter]

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  • Conslaw Conslaw on Nov 18, 2010

    I live in Indianapolis. The term "snowjob" is the first word that comes to mind. Maybe not the first.

  • Jacob Jacob on Nov 18, 2010

    I am really glad that thenewspaper.com went out of its way to point out that the new story is about the Indianapolis city in Indiana, as opposed to those in Iowa and Oklahoma. It's a very important distinction.

  • Kurkosdr Someone should tell the Alfa Romeo people that they are a badge owned by a French company now.The main reason PSA bought FiatChrysler is that PSA has the technology to enter the luxury market but customers don't want a French luxury car for psychological/mindshare reasons. FiatChrysler has the opposite problem: they have lots of still-respected brands but not always the technology to make good cars. Not to say that if FCA has a good platform, it won't be used in a PSA car.In other words, if those Alfa Romeo buds think that they will remain a silo with their own bespoke platforms and exclusive sheet metal, they are in for a shock. This is just the start.
  • Arthur Dailey For the Hornet less expensive interior materials/finishings, decontent just a little, build it in North America and sell it for less and everyone should be happy with both the Dodge and the Alfa.
  • Bunkie I so wanted to love this car back in the day. At the time I owned a GT6+ and I was looking for something more modern. But, as they say, this car had *issues*. The first of which was the very high price premium for the V8. It was a several thousand dollar premium over the TR-7. The second was the absolutely awful fuel economy. That put me off the car and I bought a new RX-7 which, despite the thirsty rotary, still got better mileage and didn’t require premium fuel. I guess I wasn’t the only one who had this reaction because, two years later, I test-drove a leftover that had a $2,000 price cut. I don’t remember being impressed, the RX-7 had spoiled me with how easy it was to own. The TR-8 didn’t feel quick to me and it felt heavy. The first-gen RX was more in line with the idea of a light car that punched above its weight. I parted ways with both the GT6+ and the RX7 and, to this day, I miss them both.
  • Fred Where you going to build it? Even in Texas near Cat Springs they wanted to put up a country club for sport cars. People complained, mostly rich people who had weekend hobby farms. They said the noise would scare their cows. So they ended up in Dickinson, where they were more eager for development of any kind.
  • MaintenanceCosts I like the styling of this car inside and out, but not any of the powertrains. Give it the 4xe powertrain - or, better yet, a version of that powertrain with the 6-cylinder Hurricane - and I'd be very interested.
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