MBTA Parking Lots Could Downsized
BOSTON (AP) -- Millions more cars are parking at train and bus lots now than they were six years ago. But the M-B-T-A's share of revenue from those parking lots is going down. State Auditor Joe DeNucci says the T's five-year contract is a great deal for Central Parking, which operates the lots and garages, but a bad deal for taxpayers and fare payers.
The auditor says the language in the next contract should be changed to ensure the transit agency gets a bigger share. In the current contract, which runs through 2007, the M-B-T-A is guaranteed annual rent from the gross parking revenues. But operators of the lots have maximized revenues to make a larger profit.
Officials say they agree with the auditor's findings and will make changes to ensure better competition and profit share.
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