After a specially called meeting earlier today, the Lexington & Fayette County Parking Authority (LFCPA) announced an adjustment to the recently approved change in rates and enforcement hours that will go into effect beginning Jan. 3, 2023.
Two motions were made and passed at the meeting.
The first was to increase the allotted maximum stay at all meters from a 2-hour maximum to a 4-hour maximum after 5 p.m. Monday through Friday, and all day on Saturday. This motion doubles the maximum stay at metered parking spaces. The time a vehicle can stay parked at one of LEXPARK’s four garages remains unlimited.
The second motion was to decrease the hourly rate on Saturday from a maximum hourly rate of $2 per hour to a maximum hourly rate of $1 per hour. Areas that are $0.75 per hour on Saturday will remain unchanged.
“Our Board of Commissioners took into consideration all of the comments and viewpoints we have received, and as a result made these two modifications to what we had originally planned to implement. We want to provide safe parking options to all who live, work or visit downtown Lexington," said Board Chair James H. Frazier, III.
The most critical needs for the increased revenue are repairs and maintenance to the garage facilities, additional security in the garage facilities, and to counteract revenue lost to Covid-19, a land swap between LFUCG and UK, and a new tax on parking services implemented by the state legislature.
The LFCPA, which maintains four garages and 1,270 parking meters, receives no taxpayer funding. During the past five years, it has invested over $5.6 million in improvements to parking garages and technology.
