Parking Garage Financing
Summary
The city took a step toward building a $10.3 million, roughly 192-space garage at Douglas & Scotland by amending its deal with Pinellas County to use $3.2 million in CRA tax-increment funding. Debt service of about $850,000 a year will eventually fall on the general fund after the CRA sunsets in 2033.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Sep 17, 2026.
Impact analysis
Roughly $850,000 a year in debt service, covered after 2033 by about $1.5 million+ in TIF revenue flowing to the general fund.
Downtown businesses and visitors gain reliable centralized parking as leased lots disappear.
Commissioner Gow contends the garage will add traffic and undermine the walkable downtown he says the city is building.
Mentions & discussions (4)
COMMUNITY REDEVELOPMENT AGENCY (Special) - Sep 17, 2026
The budget carries a $9.1 million debt-service placeholder for the proposed parking garage on Scotland Street. Commissioner Dugard pressed on community optics while staff argued the garage is needed as more than 150 leased downtown parking spaces will disappear with the Ocean Optics demolition and the First United Methodist Church sale.
CITY COMMISSION (Regular) - Jul 23, 2026
The reimbursement resolution for a ~$11 million parking garage was tabled until after the November election, with one resident arguing self-driving cars will make garages obsolete.
CITY COMMISSION (Regular) - Jun 18, 2026
The city plans up to $11 million in debt for a parking garage, but the formal reimbursement declaration was postponed to July 23.
CITY COMMISSION (Regular) - Apr 2, 2026
The city took a step toward building a $10.3 million, roughly 192-space garage at Douglas & Scotland by amending its deal with Pinellas County to use $3.2 million in CRA tax-increment funding. Debt service of about $850,000 a year will eventually fall on the general fund after the CRA sunsets in 2033.
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