For 2002, the month of May posted the most stellar monthly figures on the year for car counts, parking over 71,000 cars, a 15 percent increase over 2001.  May generated over $177,000 in gross revenues, the second highest monthly total and a 17.5 percent increase over 2001. 

Through the first five months of this year, the garage posted gross revenues of over $841,000, a 6.5 percent increase over 2001 and a 35 percent increase over 2000.  During this time period, the garage drew upwards of 333,000 cars, an increase of 3 percent over the same time period for 2001 and 24 percent over 2000. 

Monthly figures for 2002 are as follows:
January drew more than 70,400 cars, accounting for nearly $185,000 in gross revenues;  February numbers dipped to $152,000 in revenues and about 60,000 car counts and then
increased again in March to include $173,000 in revenues and nearly 70,000 in car 
counts.  Business slowed again in April, posting over $154,000 in gross revenues and 62,000 cars counts.  May generated the highest figures of the year in car counts and the second highest figures in gross revenues of 71,000 and $177,000 respectively. 

“The overall upward trend in business performance demonstrates that customers are recognizing the downtown parking garage is a convenient and accessible place to park in the downtown core,” said Bob Robideaux, project manager for River Park Square. 

Robideaux added that the staff of the parking facility is hopeful that the trend will continue based on the numerous summer activities planned downtown from tenant sales events, blockbuster movies, and community events like Hoopfest, the American Music Festival and Fireworks and Pig Out in the Park, which have historically driven high numbers of customers into the parking facility. 

Revenues collected by the City of Spokane from downtown parking meters are also showing significant increases, underscoring the upward trend of downtown activity.  Through the first five months of 2002, the City of Spokane took in $729,700, a 31 percent increase over the same period in 1999.
 

Parking Meter Revenues Collected by the City of Spokane
January – May
1999 $557,428
2000 $654,300
2001 $719,700
2002 $729,700

While garage activity is trending upward, there continues to be a shortfall in revenue to cover garage lease and operational expenses. 

“The developer is open to sound business solutions that could generate more garage revenue and reduce expenses,” said Les Weatherhead, legal counsel for River Park Square.  He added that possible solutions include a revamped validation system, reduction in the garage’s property taxes, restructuring garage bonds, and marketing the garage and downtown as an entertainment, dining and retail center, among others.