Revenue generated from the City of Bloomington’s newly established parking meters will now go into a separate fund to comply with state law.
Since the meters’ activation in August, money collected was deposited into the same fund as money from parking garages. However, state law mandates that the two sources of revenue be kept separate.
“This ordinance follows state law exactly,” said Margie Rice, Corporation Counsel for the City of Bloomington, adding that this would allow the City to see how much revenue is coming from the meters verses parking lots and garages.
The Bloomington City Council approved the new fund in a 9-0 vote on Wednesday. This vote established the parking meter fund as well as renamed the previous account to the Parking Facilities Fund.
According to the ordinance, the money in either fund can be used for general street updates and repairs. This would include sidewalk maintenance, pothole repair, development of new bicycle lanes and even the building of a new parking garage.
All expenditures are subject to Council appropriation and would need to be budgeted through the Department of Public Works.
In a general comment about parking fees, Councilmember Chris Sturbaum urged the public to remember that “roads aren’t free, garages aren’t free and that taxes were not keeping up.”