Columbus gaining parking capacity with new $18M, 650-space parking garage near Convention Center

The Franklin County Convention Facilities Authority is planning a new parking garage to help ease parking for downtown events, The Columbus Dispatch reports. The new garage will be built on what Authority Executive Director Don Brown called “The Lower Yard,” east of the Greater Columbus Convention Center. The Authority “currently has 4,000 parking spaces” in four facilities but Authority Executive Director Don Brown said they still typically experience “overflow conditions” during events. To raise the $18 million needed to build the new garage, the Authority plans to sell bonds, and Franklin County Treasurer Cheryl Brooks Sullivan “plans [for the County] to buy the bonds because they pay more than the average government bond investment.” The county will save the cost of buying the bonds on the private market; the bonds are a safe investment because the income backing them comes “from all of the Authority’s parking facilities, two of which are debt-free,” according to County Administrator Kenneth Wilson. For more, read the full article

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