Parking Fee Increase

Memorandum

Date:  04/08/2011

From: Fikret M Deljanin, General Manager

Re:  Parking Fee Increase

To: All Shareholders

 

By now you’ve heard of the small parking fee increase but it wasn’t properly explained. $40 a month isn’t a lot to pay for parking but we didn’t increase it without a good reason. Our waiting list for parking has people on it who’ve waited 10 years; this is absurd. We’ve done the math and, with this increase and the income from new spots, we can afford to expand parking lots #3 and #5 with an additional 176 spaces.

Those of you who already have spots probably won’t care about the hundreds of people still waiting, but it’s the board’s job to address these problems and this is what it’ll take. Not only will there be 176 more spaces on our property, but those 176 cars won’t be competing for parking spots on the streets which will make it easier even for those still waiting.

In the long run this will also mean more revenue to offset rising costs.

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