Wednesday, January 26, 2022

Revenue From Parking on the Square Hits Record Numbers

By Alyssa Schnugg

News editor

A good sign that Oxford’s local tourism and economy are rebounding can be seen in the number of people parking on the downtown Square.

In October and November, Parking Director Matt Davis said the City’s Parking Department has seen record numbers in paid parking revenue.

In October, parking meters and kiosks brought in $118,470. With expenses being just $25,000 in October, there was a $93K profit.

In November, meters brought in $106,778. More expenses were incurred in November – about $51,000 — with the purchase of new parking meters to replace worn-out meters.

In previous years the average for October and November was around $96,000.

“We have looked great for the last two months,” Davis told the Downtown Parking Advisory Commission on Friday. “Some of it is not having Townie Tuesday anymore and we had a few home football games in November.”

During the pandemic, once businesses started opening back up, the Oxford Board of Aldermen created “Townie Tuesday,” where parking was free around the Square every Tuesday. They voted to end that program in August.

Davis said the only bigger expense coming up in regard to parking will be replacing the bronze poles and housing for the meters.

“We’ll do about one-third of them a year,” Davis said.

There are 303 parking meters on the Square and 12 kiosks.