Wilmington City Council wants to take a closer look at parking downtown.
It unanimously passed a resolution last week urging the city to have a property valuation performed for all parking garages and lots owned by the Wilmington Parking Authority (WPA).
The quasi-governmental agency currently operates six garages and two lots in the city.
Councilman Ciro Adams sponsored the legislation. He says he hopes a valuation could result in the sale of several of WPA’s properties in the city’s Central Business District.
“The whole idea is to get the adjacent building owners, who are also the landlords trying to rent their space, to perhaps buy the parking lots from the Parking Authority so that they can offer both parking and space as part of their attraction for local businesses,” said Adams.
He argues such a move could help lower office building vacancy rates in the Central Business District, which he says exceed 21 percent.
“Currently with property owned by the Parking Authority, obviously the landlords can’t offer [parking] space too, which makes them noncompetitive with suburbia, where space is sort of unlimited out there and parking is free,” he said.
Adams says there would be other benefits to the City of Wilmington if WPA were to sell some of its parking lots. He notes if the lots were owned by a different entity, they would be subject to city property taxes. He adds that proceeds from the sale of the lots could be used to pay off the city’s outstanding bonds.
