The Facts: The cost of a new West lot parking deck will be funded, in part, by the Talley renovation project. A University policy requires that Transportation be compensated for every slot lost during construction of a new building in the amount of $17,000 per slot.
Out Opinion: The policies for Transportation compensation unfairly alter construction costs, placing an undo burden on taxpayers and students.
NCSU Transportation recently said that it is waiting on funding from the Talley renovation project to finance an expansion of the West Lot parking area.
The initial plan calls for a deck to be built on the western portion of the lot at a cost of $14 million — the deck would boost parking in the area by 429 slots.
Additional parking slots on campus are always welcome news, especially as the campus continues to expand. But the funding structure for these slots is misguided and places an unnecessary burden on students and taxpayers.
The primary funding for the project will come from a mortgage taken out by Transportation. It would amount to 57 percent of the $14 million the project requires.
This is a logical approach; students who buy parking permits will pay for the construction of the deck through the cost of their permits.
Some of the remaining balance would be paid for by reserve funds from the Transportation budget ($2 million).
The remaining funding is driven by a strange city ordinance. According to the policy the University must build one additional slot for every 600 square feet of academic space it adds and one slot for every two beds it adds it on-campus housing. Additionally, the University must be compensated for every slot that is lost during construction.
These policies have added millions to campus building costs (the SAS building for example, which added academic space and eliminated parking spots). It is taking additional money from taxpayers in academic building construction expenses and diverting it to Transportation at the cost of $17,000 per slot. The policy is contributing another $2 million towards construction of the West Lot parking deck.
The ordinance only necessitates that the University build parking spots for academic construction. But the University policy concerning displaced parking spots affects all structures. The cost of the new Talley is $2 million more as a result. Students are burdened by a policy that takes money from campus construction and diverts it to Transportation.
Does a new Talley really need $2 million worth of new parking in West Lot? It doesn’t make sense and is needlessly increasing construction costs — fleecing students.
The policy needs to be revised and the cost of Talley adjusted accordingly.
