After four months of Scranton‘s parking garages being operated by a private firm, the bottom line could end up short by $300,000 to $500,000 over a year, according to court documents and a receiver overseeing the garages.
Central Parking took over operation of the city’s five garages in mid-September when the firm was hired by court-appointed receiver Mike Washo.
“Of course it’s a cause for concern,” Mr. Washo said. “It’s cause for concern for Central Parking, for the receivership and for the city.”
Scranton is banking on the private management of the garages to maximize revenue and minimize expenses, so the city doesn’t have to pay as much as it otherwise might to cover the debt of the Scranton Parking Authority, said Mr. Washo and city Business Administrator Ryan McGowan said.
Read more: http://thetimes-tribune.com/news/scranton-parking-garage-revenues-not-meeting-expectations-1.1447895