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Work Study Session: Parking Enterprise Fund 27 <br />Community Development Agency <br />February 18, 2025 <br />Slide 4 <br />Deficit Factors <br />•Current deficit ~$1,561,280 due to: <br />•FREE parking at structures since 2021 <br />o Free 7am-5pm Monday-Friday <br />o First 2-hours free every evening and weekends <br />•COVID-19 pandemic measures <br />•OCTA Streetcar Construction <br />•Major equipment repairs & infrastructure <br />repairs (Elevators, Entrance/Exit equipment, etc)