The city has sliced parking rates at its year-old Walker Art Center ramp.
As of Oct. 1, event parking at the Lowry Hill facility dropped from $8 to $5.
Mike Sachi, the city’s director of parking services, said shortly after the Walker ramp opened in November 2003, the Minneapolis Park and Recreation Board lowered the rate on its nearby Parade Stadium surface lot from $7 to $5, cutting into the city revenue. The city lowered its rate to match the Park Board’s rate.
The city had planned to make about $100,000 in the first year the ramp was open, not counting construction bond debt. Staff now expects the ramp to break even.
The Walker building is currently closed for remodeling and is scheduled to reopen in April 2005. Sachi said he expects ramp revenue to increase then.
The ramp also serves the Guthrie Theater, which remains open at present but will move to a riverfront complex in May 2006.