Uptown Parking Meters Rake in $3.3 Million Over Seven Years

In a recent analysis, the city of Sedona reported a cumulative revenue of $3,362,779.17 from Uptown parking fees since the program’s inception in 2017. When adjusted for inflation, the net revenue amounts to $2,585,327.29. This reflects the city’s financial strategy in managing parking in a popular tourist area.

The initial setup included 101 metered parking spaces, with further expansions planned along Jordan Road for 2024. The parking meters employ a tiered fee system, allowing a maximum stay of five hours, with penalties reaching $40 for overstays.

Revenue figures have fluctuated over the years, starting at $465,733.98 for fiscal year 2018 and climbing to $512,399.01 in FY19. In contrast, fiscal year 2020 saw a dip to $336,674.95. After a recovery to $577,649.18 in FY22, the figures declined again, recording $533,317.64 in FY23 and $513,708.99 in FY24.

City staff previously projected an annual revenue of $325,000 from the meter program during its approval by the City Council in January 2016. Payments made through the mobile app have gradually increased, accounting for 11.8% of revenues in FY24, demonstrating growing acceptance of this technology among users.

Adjusted for inflation, revenues over the years reveal an interesting trend:

• FY19: $503,338.91
• FY20: $326,868.88
• FY21: $393,031.96
• FY22: $499,264.63
• FY23: $445,173.32
• FY24: $417,649.59

In addition to parking fees, the city collected $254,592 in fines for parking violations over this seven-year period. Operational expenses totaled $205,923.46, with costs peaking in FY23 at $34,933.61, while the initial installation in 2017 cost $228,961, slightly under the initial estimate.

According to Finance Director Barbara Whitehorn, revenue not allocated to operational costs is directed towards long-term debt payments on parking garage bonds. As of June 30, 2023, no reserves remained, leading to a reliance on the general fund to subsidize debt service payments.

Initially, the city intended to monitor the impact of paid parking on sales tax revenues from nearby businesses compared to those outside the area. However, concerns have been raised regarding the legality of such tracking, as noted by Whitehorn on December 4, indicating it would conflict with Arizona statutes.