The CTA keeps chipping away at that gaping $300 million hole in the 2010 budget.
Wednesday our much-loved transit agency announced two new contracts that should net at least another $400,000 per year, and maybe more.
Parking lot management. Central Parking System Chicago Parking will pay the CTA a minimum of $1 million per year, or 49.5% of net revenue, whichever is greater. CPS will operate, manage and maintain 11 park and ride facilities, plus maintain all the CTA's under-El parking areas.
CPS will buy, install and maintain new fee collection equipment the 11 locations -- equipment that will accept payments by credit card, cell phone and cash. see the continuation for the 11 locations.
Over the last five years, the CTA earned an average of $677,000 a year in revenue under the contract with Standard Parking. So this is a good little step forward in revenue. Red more details here.
Soda vending machines. Coca-Cola won a three-year contract with two one-year options to provide soft drink vending machines on CTA properties. The contract over five years is expected to generate about $283,000 annually, or about $55,000 more than the last contract.
CTA Parking Facilities Now Managed by CPS
Park & Ride Facilities*
*In addition to the Rosemont Park & Ride facility, already managed by CPS
Under 'L' Parking Facilities
14th Street/14th Place
14th Place/16th Street
16th Street/18th Place
23rd Street/24th Street
13th Street/14th Street
Sheffield/Webster (950 Webster)
Berteau at Ravenswood