Parking Facilities Fund

Source: PDF pp. 1115-1116 ↗ · raw: 1115 · 1116

Breadcrumb: Fund Summaries > Public Works. > Parking Facilities Fund

City of Portland Fiscal Year 2026-27 Proposed Budget Public Works> Parking Facilities Fund Parking Facilities Fund Fund Summary 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed Expense $10,966,011 $17,339,699 $10,343,260 $10,645,769 Bureau Expense $9,310,399 $13,770,790 $9,636,334 $9,841,798 Fund Expense $646,344 $2,049,220 $706,926 $803,971 Contingency $0 $0 $0 $32,335 Debt Service $0 $1,764,000 $0 $0 Fund Transfers - $646,344 $285,220 $706,926 $771,636 Expense Unappropriated $1,009,268 $1,519,689 $0 $0 Ending Fund Balance $1,009,268 $1,519,689 $0 $0 Revenue $10,966,007 $17,339,701 $10,343,260 $10,645,769 External Revenues $7,506,492 $7,426,486 $7,973,031 $8,199,084 Charges for Services $7,159,258 $7,127,192 $7,923,031 $8,149,084 Miscellaneous $347,234 $299,294 $50,000 $50,000 Miscellaneous Fund $0 $0 $0 $0 Allocation Internal Revenues $3,459,515 $9,913,215 $2,370,229 $2,446,685 Beginning Fund $1,519,689 $6,842,735 $992,669 $561,284 Balance Fund Transfers - $0 $1,750,000 $0 $0 Revenue General Fund $0 $0 $0 $0 Overhead Interagency Revenue $1,939,826 $1,320,480 $1,377,560 $1,885,401 Fund Overview The Parking Facilities Fund supports the SmartPark Program, which includes the operations and maintenance of the five City- owned parking garages in the SmartPark garage system. The SmartPark mission is to support the economic viability of the Central City by providing an affordable system of parking garages which primarily meets the short-term needs of shoppers, visitors, and business clients, and by investing in other Central City transportation improvements. The garage facilities house approximately 3,800 parking spaces, approximately 71,800 square feet of commercial space and a public heliport. The parking garage facilities are located in downtown Portland at SW First and Jefferson, SW Third and Alder, SW Fourth and Yamhill, SW Tenth and Yamhill, and NW Naito and Davis. If funds are available, the Parking Facilities Fund makes a transfer to the Transportation Operating Fund. In FY 2028-29, a $1.8 million transfer to the Transportation Operating is projected to cover the repayment of the Brookville Streetcar 1115

City of Portland Fiscal Year 2026-27 Proposed Budget purchase. With this transfer, preventative maintenance, deferred maintenance, and structural repairs are scheduled to be deferred until future years due to lack of funds. Managing Agency Portland Bureau of Transportation Significant Changes from Prior Year With revenue currently running about half of pre-COVID forecasted levels, major maintenance projects are scheduled to be delayed until FY 2028-29 due to a lack of funds. 1116

Parent: Public Works. · PDF: pp. 1115-1116 ↗