Finance

Cities across the country are facing a financial crossroads. As federal and state funding sources become increasingly unpredictable, municipalities must find new ways to sustain critical infrastructure, transit, and public services. The solution is locally controlled revenue through paid parking programs. For too long, free parking has been treated as a given, but maintaining parking infrastructure comes at a cost, one that many cities can no longer afford to subsidize. Paid parking isn’t just about generating revenue. It is about building a self-sustaining municipal model that reinvests local dollars into community improvements. Cities that implement structured parking programs see more than just financial benefits. Demand-based pricing improves congestion, increases turnover, and supports local businesses by ensuring parking availability. Additionally, when cities earmark parking revenue for specific programs such as public transportation, road maintenance, or even affordable housing, it builds public trust and shifts the perception that paid parking is merely a cash grab. Of course, transitioning from free to paid parking isn’t without challenges. Public resistance is common, but the key to success is transparency, equity, and reinvestment. When residents see tangible benefits, opposition decreases and cities can build long-term financial stability without relying on unpredictable external funding. With urban populations growing and mobility evolving, cities need to plan for a future where sustainable local revenue streams support their progress. Paid parking isn’t just a tool for managing vehicles. It is a strategy for building resilient, thriving communities. How should cities reinvest parking revenue to create long-term benefits? Let’s discuss. Brooke Krieger is a Regional Sales Director for ParkMobile, LLC. Brooke can be reached at brooke.krieger@parkmobile.io.

As business’ grow and corporations take over the Mom and Pop Organizations, where are the companies that used to promote themselves as a family? In the parking and transportation industry we seem to have lost the family feel in the last few years. As companies are expanding, and bottom lines are scrutinized more than ever, what are you doing to ensure your employees are happy? What are you doing to support your employee’s growth and expansion? With major parking and transportation companies growing and expanding the amount of employees they have, how is it possible to treat your team as you once used to? I feel this is an ever growing topic that is harder than ever to compare how it once was. As inflation has hit and the price of items have changed, things are no longer appreciated the same way they used to. A $5 Starbucks gift card only goes so far and often a pizza party is under appreciated. What solution do you see in the future to bring back the family in corporations without breaking the bank or budget? How can we appreciate our employees in a way that personally and economically effects them? Tate Misiaszek, CAPP is a Project Manager for LAZ Parking. You can reach Tate at TMisiaszek@lazparking.com.

Hilton Head Island, South Carolina, renowned for its pristine beaches and vibrant cultural scene, has partnered with Park Loyalty to introduce a progressive parking enforcement system, including Enforce Pro and Process Pro, designed to improve the visitor experience and promote equitable access to the island’s attractions. Addressing Parking Challenges As a popular island destination with limited parking space, Hilton Head faces unique challenges in accommodating residents and the influx of visitors to its beaches, landmarks, and other attractions. To address these challenges and enhance customer service, the Town has implemented a progressive rate engine developed by Park Loyalty. This system is designed to encourage positive parking behaviors and ensure a fair and transparent parking environment for all. Progressive Rate Structure for Parking Violations The newly implemented system introduces a tiered fine structure for parking violations within a one-year period: First Offense: A $50 fine Second Offense: A $100 fine Third Offense: A $250 fine Fourth Offense: A $500 fine This escalating fine structure aims to promote greater compliance with parking regulations and foster a fair parking environment for all. Collaboration with Oobeo The successful implementation of this system included a collaborative effort with technology integration partner, Oobeo. Their expertise played a pivotal role in tailoring the system to meet the unique needs of Hilton Head Island, ensuring a seamless and effective solution to the island’s parking challenges. Hilton Head’s Commitment to Visitor Experience and Fair Parking This initiative underscores Hilton Head Island’s commitment to enhancing the visitor experience while maintaining equitable access to its renowned attractions. By implementing a progressive parking enforcement system, the Town aims to promote positive parking behaviors, improve customer service, and uphold the island’s reputation as a premier destination for residents and visitors alike.

Investors are making significant moves in the parking industry.

Hello, IPMI Community! Parking & Mobility magazine seeks parking, transportation, and mobility professionals interested in authoring our standing monthly columns. You do not need to be a writer; you just need to be a thought leader! I am happy to work closely with those who want to share their expertise but may not be confident writers.  Columns that are still available for 2025 magazine editions include: Business of Parking - Marketing/BD Marketing and business development experts from inside and outside the parking and mobility community provide expertise on topics impacting the financial outcomes of organizations and providing best practices to implement for success. Business of Parking - Finance Financial leaders from the parking and mobility community provide expertise on matters affecting our financial bottom line. From spending to funding, get the most current information on the dollars of our industry from those who know it best. Looking for CFOs, accounting leaders, and strategy officers to contribute! Business of Parking - Legal The legal landscape for parking and mobility operations is changing at an unprecedented rate. Our industry's top legal minds will give insights into the most current legal and regulatory factors impacting our industry. Looking for both in-house and outside legal professionals to lend their expertise! The Green Impact Share stories of the impacts of sustainable parking and mobility. What are the continued impacts of the "greening" of our industry? How are parking and mobility professionals responding to the need for sustainable solutions? HR Perspective Human resources professionals take the lead in sharing vital information on organizational success. Experts in managing our most important resource - our people - speaking on relevant HR or human capital topics. Looking for industry HR leaders to share their expertise! Leadership Moment Share the voices of your organization's C-Suite or senior leadership! Industry trailblazers share insights on leadership and organizational success. When possible, the topic should be matched to the monthly issue theme. We are looking for C-Suite, Executive, and Senior Leadership to contribute. Parking Spotlight Opportunity for planning, design, and construction firms to highlight a completed parking project. Ready to contribute? Email editor@parking-mobility.org, or click here to submit your pitch. Please share your knowledge and help advance our industry! Melissa Rysak is the Vice President, Communications for IPMI. Melissa can be reached at rysak@parking-mobility.org.

We are all aware of the famous Benjamin Franklin quote “If you fail to plan, you are planning to fail”, yet again and again we are reminded how true that is.  As Parking Professionals, we are often tasked with creating plans and having a plan for an abundance of programs like; Standard Operating Plans, Emergency Action Plans, ADA Plans, Customer Service Plans, Revenue Control Plans, the list goes on and on.  However, Facility Maintenance and Capital Improvement plans seem to take a back seat to the more “parking operational plan” types when in reality, Maintenance and Capital Improvement plans need to be on the top of every parking manager’s priority list.  Failing to prioritize these areas can result in costly repairs and disruptions to parking operations, which ultimately could lead to lost revenue for the owner. As we know, parking often forms the first and last impression a guest has of a building or business, influencing their overall perception.  Yet, many owners fail to implement proper facility maintenance or capital improvement plans for aging parking facilities. Post-tension repairs, concrete repairs, and membrane repairs are rarely considered "exciting" projects that owners are eager to showcase. These projects are typically dusty, noisy, time-consuming, disruptive to parking operations, and VERY EXPENSIVE, so they often get pushed aside in favor of more visually appealing upgrades to the main building or guest entryway. As parking professionals responsible for parking operations, it’s crucial that we communicate with ownership/stakeholders and advocate for a seat at the table to contribute to the discussion on a preliminary capital improvement plan. While most of us may not be engineers by trade, it’s important to familiarize ourselves with the types of parking structures we manage and recognize signs of deterioration. Keep in mind, it will be far more costly to completely rebuild a deteriorating parking facility than to allocate funds annually for ongoing repairs and maintenance. Vincent Campagna, CAPP, is a Manager, Parking & Ground Transportation for Milwaukee Mitchell International Airport. Vincent can be reached at vcampagna@mitchellairport.com.

New York - Reimagined Parking (the "Company"), one of the world's leading tech-powered, people-driven parking solutions provider, today announced the successful completion of a private capital transaction designed to strengthen the Company's capital structure and support its leading position in the industry and long-term operational objectives. As a result of the transaction, the Company significantly reduced its Senior Secured Debt through an infusion of new capital from the Company's existing financial partners and brings the Company under the ownership of a consortium of institutional investment management firms with deep experience in driving financial and operational growth in various industries. The transaction underscores the confidence of the Company's financial partners in its strategic vision and operational excellence. Concurrently with the closing, the Company has appointed Rick West, a seasoned executive with over thirty years of experience in the parking industry, as the Chief Executive Officer of the Company. Rick has deep experience as an operator of parking garage businesses such as the Millennium Parking Concession, Central Parking Corporation and Parking Company of America Airports, as well as advising private equity and other private capital investors in connection with acquisitions of, and investments in, parking businesses. "Today marks a pivotal moment for Reimagined Parking," said Rick West, "this transaction not only strengthens our financial foundation but also positions us to continue leading the industry in parking management, valet, shuttle ground transportation, and parking technology products and services. We are excited to welcome our investors, whose experience and support will be invaluable as we drive innovation and expand our platform across North America." The Company remains committed to delivering exceptional service and innovative solutions to its clients and customers while maintaining uninterrupted operations following the completion of the transaction. About Reimagined Parking Reimagined Parking's portfolio includes nationally recognized brands such as Impark, Lanier, Republic Parking, AmeriPark, and Park One. With a workforce of more than 6,600 managing over 2,500 high-density parking facilities across more than 275 North American cities, the Company generates 34 million digital transactions annually, serving high-profile commercial real estate, retail, hospitality, airport, event, healthcare, municipal, and education locations. For more information, please visit www.reimaginedparking.com.

As with many mobility and transportation agencies, Wave Transit in Wilmington, North Carolina has a strong commitment to sustainability initiatives by working to grow ridership, reducing dependence on automobiles, limiting emissions, and minimizing our carbon footprint. Recently, Wave implemented a program that takes advantage of our use of Compress Natural Gas (CNG) for fueling buses by producing monthly revenue through a unique program. CNG has low amounts of nitrogen dioxide, carbon dioxide, and sulfur dioxide while being an average of 33% less than diesel. This particular program falls under the Environmental Protection Agency’s Renewal Fuels Standards (RFS) which links our dispensing of CNG with the production of renewable natural gas elsewhere in the United States. This program is centered on credits known as Renewable Identification Numbers (RINs) that verify that renewable fuel was used as a transportation fuel. Renewable fuel producers generate RINs by producing a gallon (or gallon equivalent) of renewable fuel such compressed natural gas. A commodities company has been engaged by Wave and they combine production and dispensing data to generate RINs which are sold to obligated parties and then Wave receives a monthly payment for a negotiated percentage of the RIN sale. No changes were required with any CNG fueling equipment and processes as this program allows Wave to continue fueling as we have in the past. The program does require documentation and reporting to ensure compliance with the EPA requirements, but the significant financial and sustainability benefits have come with minimal additional effort so this program has been extremely well received.  Mark Hairr, CAPP, is an Executive Director for Wave Transit. Mark can be reached at mhairr@wavetransit.com.

I am a firm believer that an organization’s work culture will determine employee longevity and overall success or shortcomings for a company.  While the Keurig coffee machines and donuts are appreciated when supplied, culture goes beyond these types of perks and instead centers on professionalism, understanding and respect across an entire department.  I also believe most working employees strive to perform their jobs efficiently with favorable behavioral patterns.  It is the primary responsibility of leadership to guide and maintain positive working cultures, which includes the below: Engaging management style Encourages staff on a consistent basis, promotes an open line of positive communication, provides constructive feedback and also at the same time looks for feedback Diversity Provides equal opportunities to different backgrounds, relies on a team with differing experiences to provide forward thinking solutions Involvement, support, growth Recommends growth and development, offers training resources and encourages higher education and/or certification, involves team members with new projects to enhance skills, promotes group activities Work-life-balance Respects staff and time away from work and establishes boundaries, designates tasks to the appropriate team members, considering flexible scheduling, leading by example Compensation For management positions with routine scheduling demands outside and in addition to normal business hours, matching salaries to reflect the nature of the position and work performed Our work environments continue to evolve, and staffing challenges continue to impact all service industries.   Companies coming out on top with talent and high retention rates are those promoting strong work cultures while demonstrating modern work practices, and these organizations are the leading industry innovators.    Zach Pearce is an Associate Director of Operations at Old Dominion University. Zach can be reached at zpearce@odu.edu.

A New Funding Solution for Sustainable Parking & Mobility Solutions

Balancing Organization, Compliance, and Employee Satisfaction

Pittsburgh Builds Legal Structure for Ticket-by-Mail