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Article: Boston-area transit agency misses out on parking windfall due to poor contract.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 14, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Anthony Flint, The Boston Globe Knight Ridder/Tribune Business News
Dec. 14--The private company hired to run the MBTA's parking lots and garages, not the cash-strapped T, is pocketing millions from higher fees and a surge in customers, a state audit reported yesterday.
In the past six years, with 2 million more vehicles using MBTA parking, the T collected a total of only $300,000 more, while the private operator of the parking facilities reaped another $16 million.
As the Massachusetts Bay Transportation Authority considers service cuts, the agency is missing out on badly needed revenue because of a poorly structured five-year contract ...