The City of Peoria owns a number of parking decks downtown and outsources the management of them to National Garages. According to the 2007 City Budget, the city owns about 4,600 parking spaces in decks and surface lots. The city isn’t making any money on these lots. Between the debt service, the cost to manage the decks, and the artificially low rates, the city is heavily subsidizing downtown parking.

But there’s more than just operational costs to owning parking decks — there’s also maintenance costs. According to the budget document, National Garages takes care of routine maintenance as part of their contract. Structural upkeep, however, is the city’s responsibility. Structural repairs for the Jefferson Street and Twin Towers parking decks are on the agenda for tomorrow night’s meeting, and the cost is a whopping $738,437.

Peoria should sell these decks to the businesses that use them and let those businesses maintain them for their own patrons at their own expense — just like every other business in Peoria does that isn’t located downtown. Then Peoria could use the money it saves for services that benefit all Peorians, like fire and police.