Monday, 17 July 2023 08:39

University of Akron Outsourcing Parking and Raising Prices Featured

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It’s not just tuition going up at The University of Akron with the announcement that parking fees for employees and new students are also increasing for the first time in 19 years as the University outsources its parking services. 

The Beacon Journal reports the University will be entering into an agreement with a national parking facilities manager SP+Corp to monetize parking operations. The national firm Diogenes Capital is facilitating the public-private partnership that will see the Development Finance Authority of Summit County set up a nonprofit corporation called UAkronPark to take over the parking program.

University officials say the move frees the administration from overseeing parking and will bring in revenue to pay down the university’s debt, with UA President Gary Miller saying the new deal, “gives us an opportunity to have someone else pay for renovating the parking decks and parking lots and for us to get some upfront revenue to sort of start paying off some debt.”

Current students will not see a price increase, but newly enrolled students will be paying $225 dollars a semester for a parking pass, in addition to the current $350 dollar transportation fee.

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