The Concession Agreement will provide The University of Akron with an upfront payment estimated to be in the tens of millions of dollars. The Concessionaire will invest approximately $16.3 million in additional funds over the first five years of the concession to address deferred maintenance and to bring the parking system up to standard (including the demolition of the Exchange Street parking deck, (Lot 39), located at 208 Carroll Street). In total, the Concessionaire estimates that it will spend almost $80 million in today’s dollars to repair and maintain the parking system over the 35-year term of the concession. UAkronPark is a non-profit entity and will distribute an estimated tens of millions of dollars to The University of Akron for reinvestment in academic mission over the term of the concession.

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UAkronPark is a nonprofit organization. All funds collected (parking permits/violations) are used to improve the parking areas on UAkron’s campus and pay back bondholders. Any surplus cash flow from the parking revenues, after operating expenses and debt service, goes to the University.

UAkronPark utilizes a license plate recognition software (LPR). Cameras on UAkronPark’s enforcement vehicles scan each license plate to assure each vehicle is parked within UAkronPark’s rules and regulations.

No, the role of parking enforcement is not to generate violation revenue for its own sake but to improve compliance. For additional information, please read this article.

UAkronPark’s rules & regulations are enforced 24/7.

Permits are enforced in between semesters and during some breaks.

Daily parking rates, permit parking rates and parking citations include transaction fees when purchasing by credit card.

The role of parking enforcement is not to generate violation revenue for its own sake but to improve compliance. For additional information, please read this article.

UAkronPark will invest approximately $16.3 million over the first five years of the concession in order to address deferred maintenance and enhance the parking system.

Throughout the 35-year term of the concession, UAkronPark estimates an expenditure of nearly $80 million in present-day value to ensure the repair and ongoing maintenance of the parking system.

UAkronPark will upgrade existing parking facilities for easier access, improved lighting and additional security.

• Example: The deferred maintenance in each of the eight parking structures will be addressed within the first five years of the concession agreement.
• Annual improvements (repaving and resealing) to various asphalt surface lots.

Adding newer and more reliable parking shuttles for expanded service hours and less wait time.

The campus shuttle will continue to offer free services to students, faculty and staff. The shuttle service routes will become a linear route, covering the same service area, which will result in reduced average wait times. Service will start at 7:00 a.m., 30 minutes earlier than before, to better meet the needs of students with early morning classes or faculty/staff who ride to work with METRO.

Improved customer experience and response time from an experienced, professional third-party operator that has the resources to expand personnel.

Improved technology that will enable patrons to pay by phone. QR codes will be available for the campus community to scan and pay either online or via text, essentially converting almost any parking spot into a metered parking space.

The process will be touchless, quick and easy with no need to find a pay station, stand in line, touch equipment or interact with personnel. We expect to have this technology implemented before the end of the 2023 fall semester.

UAkronPark will become a true partner of the University in a number of ways:

• Participation in Parking Advisory Committee (PAC) meetings, at the University’s discretion, to encourage open dialogue between the campus community and the parking vendor. The PAC members will be appointed by the University and include representatives from the campus community (students/faculty/staff).
• Direct and indirect contributions to campus projects and events, as well as the student experience; this includes, but is not limited to, investing in campus projects and actively participating in and sponsoring campus events.

The transportation fee supports all transit services that are available to University of Akron students. This includes the campus shuttle, as well as free rides throughout Summit County on any of Akron METRO RTA’s normal line services with a University ID card (and a $1 discount on the fare for the North Coast Express route to Cleveland). For those returning students who are in a tuition guarantee cohort and who will not be paying a separate parking permit fee, the transportation fee also supports the operation and maintenance of parking facilities.