Tuesday, June 14, 2011

Taxpayers Pay to Build Broad Ripple Parking Garage; Garage and Revenue to Be Given Away

Proposed Broad Ripple Parking Garage
I have to wonder what is wrong with our city's leaders' minds and in particular Mayor Greg Ballard's.  Yesterday the Mayor announced that the City be helping to build a $15 million parking garage in Broad Ripple at the southwest corner of Broad Ripple Avenue and College Avenue.  The Star reports:
City officials on Monday announced that Newpoint Parking, Keystone Construction, Ratio Architects and Walker Parking Consultants had the winning bid for the three-floor parking garage at the southwest corner of Broad Ripple and College avenues. Replacing a pizza joint and a closed gas station, it will have 350 parking spaces, first-floor businesses and a police substation.
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The city will contribute $6.35 million to construction through the ParkIndy deal. ...
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The garage's private operators will own it and set market rates for parking, using the money for garage expenses, but the city will have oversight and the ability to cap the rates. Parking in Broad Ripple lots often costs about $5.
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So we taxpayers are paying for over 42% of the parking garage (the article is not clear who is paying the rest), yet we get taxpayers get zero ownership of the garage as we're giving that away to the operators?  And we get zero revenue off the building because that goes to the operators as well?   Wow, the City can really negotiate can't it?

Who is a big winner in the deal?  Keystone Construction.  Keystone is one of the biggest contributors to the Mayor and hired Paul Okeson, who was deputy mayor under Ballard.  Of course the Indianapolis Str never notices that we have a local revolving door much worse than the one at the state level.

Check out Advance Indiana's excellent take on the Broad Ripple Parking Garage.

2 comments:

Cara said...

So a taxpayer gets to pay into the building of the garage so that he can pay to park there? That deal sounds almost as good as paying extra sales tax to build a football stadium that he then has to buy tickets in order to enter.

These types of decisions are why I moved OUT of Marion County.

Downtown Indy said...

Meet the new boss. Same as the old boss.