Tuesday, October 20, 2009

Keeping Gateway Affordable

Mayor Smith wants to keep Gateway Airport affordable and simple and we think that's a good thing. Maximizing the amount of money squeezed out of something like parking only eventually leads to that money being programmed for something else unrelated. When this is done, it eventually means that when or if the money starts to dwindle, other funds must be found to keep that particular project going.

Look at the tobacco funds for children's programs, for example, people are smoking less - that's good, but now it means less money for the kids - that's bad. So, where next to help the kids?

If parking is merely self-sustaining and affordable, it becomes much easier to manage, and can become a potential resource in the future. Keeping parking in line is sort of like keeping an open equity line on a property. The old wisdon is that equity should only be tapped to improve the property itself, thus adding value. Keeping parking unincumbered not only keeps Gateway an affordable travel option, it could eventually help with the Airport's long term growth.

The Mayor is right - just because you can make money doing something, doesn't always mean that it's the best option. Patience and savings always seem to pay off in the long run.

No comments: