Mike went back to Don with this Question — My answer, probably completely wrong, follows:
I’m also curious what kind of formula is used to determine what share of the gross revenue goes back to the street improvements. For example what about direct and indirect expenses as well as amortizing investment – is it just net revenue or are there more complicated overhead factors? Also, what formula could apply in an integrated on and off-street system in which debt service on parking garages is partially supported by pre-existing meter revenue.
I opine that there is no "Formula." All the money goes back into the area and the parking operation that supports the area. If there are costs dealing with equipment, then that should be covered, but all monies not used by parking should remain in the area for improvements in the infrastructure..
JVH
