New parking permit rates announced
posted June 6th, 2012
For the first time in three years, Duke parking permit rates will increase as part of an ongoing effort to maintain parking facilities and cover operating costs.
This will be the first rate increase since 2008-09 when officials first held rates flat to help reduce the financial impact of the recession on members of the Duke community.
During that period, Duke had to defer maintenance of certain parking lots and garages to manage expenses during the recession. As the maintenance issues have piled up the last few years, so have the costs to address them.
Kyle Cavanaugh, vice president of Duke administration, said those needs will have to be met through more significant investment over the next several years.
"The rate increase may well be the first of several increases over the next few years to address rising costs related to maintenance of parking lots and garages, leased space, and the increased demand for parking," he said. "Although no one is ever in favor of a rate increase, the challenge is providing a safe and accessible system at a reasonable cost."
Part of the rate increase will also help offset the price discrepancy between what a parking spot costs and what a student or employee actually pays for it.
"Over the years, Duke has absorbed a portion of the cost for things such as leasing lots to expand capacity for an ever-increasing number of people coming to campus each day," said Sam Veraldi, director of Parking and Transportation Services. "That practice isn't sustainable and ultimately limits the funds we have available to address other needs, such as ongoing maintenance."