October 21, 2011 | 03:42 PMIt appears as though two ways to resolve the city's budget deficit revolve around increasing parking revenues.
The City Council is expected to discuss Monday night (Oct. 24) raising parking meter rates from 50 cents per hour to $1 per hour and put an end to two free hours of parking for nonresidents during the winter months, from November through April.
The parking rate increase and no free parking could add hundreds of the thousands of dollars to the city's more than $750,000 which already is collected annually from parking meters and tickets.
Officials discussed the possibilities during their Tuesday night (Oct. 18) budget meeting. However, no decisions were made that night. At previous budget meetings, elected officials agreed the parking rate and free parking issues should be determined by the City Council.
According to City Administrator Dennis Jordan, it appears city officials are looking at several ways to ensure the city doesn't increase its tax levy for 2012.
As of last week, the city still had a budget deficit of about $40,000. However, a change in the parking meter rates would erase that deficit in a hurry.
Find out if you will be paying more to park in downtown Lake Geneva.
See full story in next Wednesday's Regional News hard copy edition or online here.