III.D. Parking Spaces

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III.D.1 GENERAL PARKING

1.01 Each house is responsible for maintaining its own parking spaces.
1.02 Each house will be responsible for renting all BSC parking spaces considering the parking rates set by the spring budgeting process. Any lost revenue from empty parking spots will be charged to the house account of each house. Any and all excess revenue will be credited to the house account.
1.03 Priority for parking spaces will be up to house-discretion.
1.04 In the event that Wolf House is no longer able to rent its parking spaces to the Wright Institute at the rate assigned during the budgeting process, central-level staff and CFCom will work with the Wolf House Manager to ensure that the spaces are filled and to determine the new market rate for the parking spots as soon as possible. Should this occur, CFCom must immediately review the parking rate assigned to Wolf House parking spaces for that semester and recommend any adjustment to the rate at the next Board meeting, in order to ensure that Wolf House does not experience undue financial burden due to changes in the relationship with the Wright Institute and/or the prevailing market rate. Any change in Wolf House’s parking rate will be retroactively applied for the given term in order to ensure that Wolf House is not charged more than the current market rate. Any lost parking revenue will be covered by the BSC Operating Reserve.


[Board approved 5/7/15.]