With disability rates on the rise and paratransit still falling short, Lexington is investing in two microtransit initiatives developed by local nonprofits.
During the April 21st Council Work Session, LexPark will present its proposed budget for fiscal year 2027, which according to meeting materials, includes rate increases at its downtown parking garages.
At the meeting, LexPark will make the case to Council that it needs the additional revenue to help cover maintenance costs for its aging garages, along with rising operating expenses.
Previously, LexPark could adjust rates and fines as it saw fit, but in 2023, the General Assembly passed Senate Bill 75, requiring Council approval.
Here's what to know ahead of the meeting, which is set to take place at 3 p.m. in the Council Chamber of Lexington's downtown Government Center.
LexPark is seeking a new hourly rate structure at its Helix, Courthouse, Transit Center and 350 West Short Street (Victorian Square) garages.
LexPark says its current pricing for short-term garage parking is $1 for every 18 minutes, up to a maximum of $12 per day. Its presentation to Council notes this does not include on-street rates, monthly parking, hospitality parking, or other pricing categories.
The new pricing LexPark proposes is $3 for the first 30 minutes and $4 after per hour to a maximum of $19.
If approved, the new rates would go into effect at the Helix, Courthouse, and 350 West Short Street garages in September. The change would go into effect at the Transit Center garage starting in January 2027.
Why does LexPark say it needs the increase?
LexPark points to aging garage infrastructure and rising costs to maintain those facilities. It notes that, between the four parking garages, the average age is 41 years old.
In 12 months, LexPark spent $1.3 million on structural maintenance, with an additional $11 million worth of maintenance needs left to address.
LexPark also says it needs to invest $500,000 in the next few years to modernize its technology. It's also seeing rising operating expenses in the form of health insurance, payroll, technology platform subscriptions, and snow removal.
In its presentation, LexPark says that its current pricing is significantly lower than competing garages downtown.
The proposed pricing of $3 for the first 30 minutes and $4 per hour brings LexPark in line with its competitors, while still offering a maximum parking rate below most private garages, the presentation states.
The LexPark presentation includes a proposed operating budget for fiscal year 2027 with total revenues of $6,659,420 and total operating expenses of $5,133,936.
On-street and off-street parking are LexPark's largest sources of revenue. According to its year-end projections for fiscal year 2026, which ends June 30, its total on-street revenue is $2,325,912. Off-street revenue is projected to reach $3,471,708.
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Watch the meeting: The April 21 Urban County Council Work Session will take place at 3 p.m. in the Government Center's Council Chambers. You can attend in-person or watch live on LexTV.
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How can you get involved? Reach out to your Councilmember here. Remember that you're represented by three At-Large Councilmembers and your District Councilmember.
Aaron covers the Lexington Fayette Urban County Council as a City Hall Reporter for CivicLex. His background is in Service Journalism, and he’s passionate about helping Lexington residents stay informed about happenings in local government.
With disability rates on the rise and paratransit still falling short, Lexington is investing in two microtransit initiatives developed by local nonprofits.
