This, of course, is when there's an $800k hole in the parking fund.
Approximately four years ago, the city of Wilmington prematurely terminated their contract with Central Parking. Central Parking was receiving approximately $660,000 a year for managing the city's parking operations. The city then awarded the contract to Lanier without requesting competitive bids. As a result, the parking fees went from $660,000 to $850,000 annually.
Recently, the parking contract came up for renewal again. Without soliciting competitive bids, our city extended Lanier's contract three years. The contract included an 11 percent increase and Lanier is currently receiving $960,000 annually despite the fact they are under-performing based on their contract terms.