Hartford-based LAZ Parking today announced a 7-year contract to manage 34 New York state rail-parking facilities for the Metropolitan Transportation Authority-Metro-North Railroad.
The contract begins April 1 and covers 13,625 parking spaces with gross parking revenue of $28.1 million, LAZ Parking officials said. Counting facility and service upgrades, the total benefit to MTA-Metro-North climbs to $33.1 million during the life of the contract, officials said.
LAZ plans to replace existing parking meters with digital electronic meters that accept credit and debit cards. Customers also will be able to pay by phone and conduct transactions online. Other features and services will be added to the parking facilities, the capital cost of which will be borne by LAZ, the company said.
With the contract, Â LAZ Parking now operates the parking for three of the largest transit parking authorities in the country, including the Washington Metropolitan Area Transit Authority and Massachusetts Bay Transportation Authority, said Alan Lazowski, LAZ Parking chairman and CEO.
In late 2008, the city of Chicago chose LAZ Parking to manage its parking system under a 75-year concession agreement.
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Formed in 1981 with a single valet location in Hartford, LAZ Parking says it is one of the nation’s largest parking operators with more than 1,000 parking facilities nationwide generating more than $325 million in parking receipts.
