IBJNews

Premium parking rates at airport to rise under new pact

Back to TopCommentsE-mailPrintBookmark and Share

The most convenient and priciest parking at Indianapolis International Airport will cost even more under a new contract with Global Parking System of Indiana Inc.

The Indianapolis Airport Authority on Friday morning approved a new revenue-sharing agreement with Global, the current valet operator, which will boost the airport's annual revenue from premium parking to a projected $1.9 million this year from $800,000 last year.

Rates will go from $20 to $22 within the next few months, although they are subject to revision based on market response. The new two-year agreement also changes the service from traditional valet to a mix of valet, assisted valet and self-parking right next to the terminal sky bridge.

Parking is the airport's second-largest revenue source, generating almost $40 million a year. Spokesman Carlo Bertolini said total revenue from premium parking is conservatively projected to remain the same, $2.4 million, but that Global agreed to take a smaller share because it's now a proven revenue stream.

Locally based Global will keep 18 percent of premium parking money and 75 percent from ancillary services, such as oil changes and dry-cleaning.

Global was chosen over AmeriPark, Denison Parking, Parking Management Services Inc., Parking Solutions Inc. and USA Parking.

Also Friday, the airport authority signed off on new land leases for a second 75-acre solar farm to be constructed and operated by ET Energy Solutions LLC, a joint venture of Indianapolis-based Johnson Melloh Solutions and Carmel-based Telamon Corp.

The second 10-megawatt farm, expected to break ground in the third quarter, will be west of one that's currently under construction by the same group. When both solar farms are complete, Indianapolis will be the site of the largest airport-based solar farm in the country, airport officials said.

The second solar farm is expected to produce more than 15 million kilowatt hours of electricity a year, or enough to power 1,200 average homes. Electricity will feed directly into the Indianapolis Power & Light grid through existing surface transmission lines that connect the airport terminal to an IPL substation west of the airport.

“Development of a second IND-based solar farm is the result of our continued focus on both economic sustainability and environmental commitments,” airport Executive Director Robert Duncan said in a prepared release.

Under land leases with two separate development sub-entities, Bulldog Energy Airport LLC and Indy Airport Solar Project II, the airport will receive $300,000 a year in rent for the first half of the 30-year contract and $350,000 a year in the second half.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

ADVERTISEMENT