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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe entity that runs Indianapolis’ parking meters will increase the hourly rate in the downtown core and the Broad Ripple area slightly next month.
ParkIndy plans to increase the hourly rate to park in these areas from $1.75 to $2.00 beginning Feb. 2.
The meters are operational Monday through Saturday from 7 a.m. to 11 p.m. Parking is free on Sundays and select holidays, including Dr. Martin Luther King Jr. Day, President’s Day, Memorial Day, Labor Day and Thanksgiving.
ParkIndy last increased the rates in 2022, bumping them from $1.50 to $1.75 per hour. The city also altered the contract with Park Indy in August 2023 to give the contractors a financial incentive to ticket those who park illegally, with a focus on bike lanes, but rates were unchanged.
ParkIndy is a consortium of Florham Park, New Jersey-based Conduent Inc. and the Indianapolis-based firms Denison Global Parking and Evens Time. Indianapolis turned over operations of its parking meters to ParkIndy in a 2010 contract that lasts until 2050. City officials have the opportunity to buy out the remainder of the contract every decade and opted to remain in 2020.
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This surely will help induce more traffic in Broad Ripe and downtown
Such idiots This city just does not get it
The City doesn’t have any control here. ParkIndy can do what they please.
Wow… 33% increase in 3 years.
This is what happens when you seed control of a government function to private enterprise. Would be nice to see what contractual arrangement the city made with ParkIndy that allows them to increase rates this much in 3 yrs. Inflation is supposed to be going down. This feels like a profit grab. Have their cost gone up that much?