Welcome to ParkIndy
ParkIndy, LLC, is honored to partner with the City of Indianapolis to bring its metered parking system into the 21st century.
Our public-private partnership is creating a modernized and more convenient parking operation for motorists and businesses of a vibrant city. Our solution provides an innovative and effective solution to managing the City’s parking assets and demonstrates our confidence in Indianapolis as a dynamic and growing metropolitan area.
Here are a few of the highlights:
- An up-front investment of $20 million. The investment is being spent on infrastructure improvements in areas where parking meters exist - the downtown and Broad Ripple.
- An investment of millions of dollars in modernized parking technology that enables the City to offer customer conveniences and efficiencies never before offered in Indianapolis. There will be multiple technology refreshes throughout the term as parking and payment technology evolves
- A revenue sharing structure that is estimated to net the City around $600 million over the life of the contract. By providing the City with an ongoing, annual revenue stream, the revenue-¬‐share structure aligns objectives for citizen service, efficiency, and revenue return over the term of the agreement.
- ParkIndy bears ALL of the expenses and financial risk, saving the City $3 million annually in current system operating costs alone and eliminating the City’s entire financial risk. The City no longer bears the budgetary and delivery risks, nor does it bear risks associated with increasing personnel costs.
- The City maintains flexibility and control in key areas of economic development, public policy, and rate structures. The Agreement can be terminated for convenience every 10 years if the City believes the contract is no longer in the best interest of the community.
The ParkIndy team is comprised of Xerox Corporation, along with Indianapolis-based partners, Denison Global Parking, a minority owned company whose combined heritage goes back over 80 years of parking qualifications, and Evens Time, a woman owned company serving Indianapolis for 76 years.
Xerox is the leading municipal parking operator in the U.S. and has been serving local governments for more than 25 years. Xerox currently manages parking programs in 25 cities and has a proven track record of working with cities to coordinate on-street and off-street parking systems with other city development and expansion projects.
The ParkIndy team includes local Indianapolis partners, Denison Global and Evens Time, to ensure a customized approach and technology tailored to the needs of the City, its businesses, residents, and visitors.
To further demonstrate our commitment to Indianapolis, Xerox committed to creating 200 new jobs in the community – in areas unrelated to parking. This is a firm commitment that is enforced by financial penalties. These jobs will contribute an estimated $40 million in economic benefit to the City during these tough economic times.
Xerox and its local partners also have an exemplary record of philanthropy and community involvement. That includes both widespread participation of our personnel on volunteer boards and committees as well as financial contributions to worthy causes. Xerox has pledged to contribute $1.25 million dollars to local charitable organization during the life of this contract.
We are committed to delivering a well-run parking program that will build upon the success that Indianapolis has worked hard to achieve. The improved system will dramatically advance customer convenience, curb congestion and vehicle emissions, and provide a growing stream of revenue to the City. We look forward to a productive partnership – one that serves Indianapolis well.