Parking rates set to increase on the Square in Oxford

OXFORD, Miss. (AP) - The Oxford Board of Aldermen has voted to raise the cost of metered parking on the Square from $1 an hour to $1.25 an hour.

The Northeast Mississippi Daily Journal reports (https://bit.ly/2euZ5WR) this change, effective Jan. 1, coincides with the board looking for ways to fund a new parking garage near the square.

Tom Sharpe, who chairs the Downtown Parking Advisory Commission, presented this week the most recent findings and recommendations of the commission.

The projected cost of constructing the garage is currently at $9 million. Rather than having the garage paid for by a tax increase, the commission is looking at a system that would make it possible, over a period of years, for the garage to be paid for by parking revenue.

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Information from: Northeast Mississippi Daily Journal, https://djournal.com