FY24 proposed budget says
$4.1M principal
$1.9M interest
=$6M in parking debt service requirements
FY23 adopted budget for Parking Fund – on-street (1650 [!] metered spaces, enforcement) + almost 9000 off-street spaces + DRA safety patrols
$5.6M in direct operating expenditures
$3M in personnel and benefits costs
$400K in capex and special projects
=$9M in expenses
-$15M in revenues
-$6M in debt service
= roughly break-even
Besides capex (and opportunity cost!) parking garage spaces cost $1-2/day for operations and maintenance; that’s from a private source, but Durham spends $1.16 per space per day on maintenance and repairs alone.