Car Park Trading Fund
Launch date: 20/06/2013
Review status: Report published
What is the review about?
The Long term capital plan allocation for Jersey Car Parks (2012 – 2032) includes Ann Court Car Park and the rebuild of four multi storey car parks: Minden Place, Pier Road, Green Street and Sand Street at an overall cost of £58 million. The income total in 2011 was £6,450,000 with parking charges and fines making up the majority at £5,987,000. Jersey Car Parks are anticipating an £18 million shortfall in funding if additional measures are not taken.
Terms of reference
- To examine how the financial return from the Car Park Trading Fund to the States General Reserves is being utilised including:
- Examination into the practicality of continuing to contribute from the Car Park Trading Fund to the States General Reserves taking into account the predicted shortfall
- Examination to ascertain if funding from the Car Park Trading Fund should be integrated wholly into the Sustainable Transport Policy and the transparency as to the use of the funds from the viewpoint of the tax payer/car park user
- Examination of the rise in car parking charges in alignment with the Anti Inflation Strategy