$1.6M Shortfall Expected In Elmhurst Parking Fund

ELMHURST, IL – Elmhurst expects a $1.6 million deficit in its parking account by the end of the year.

This shortfall is blamed on the sharp decline in commuting to downtown Chicago since the beginning of the pandemic more than three years ago.

In 2021, the city's parking income dropped to its lowest level, at 36 percent of pre-pandemic levels, according to a city memo released last week.

Since then, residents have resumed commuting, but not at a pre-pandemic frequency, the city said. Many work at home for part of the week, which means a shift from annual parking permits to daily usage.

The city estimates that 2023 and 2024 will see parking income at about 70 percent of pre-pandemic levels.

To offset shortfalls, the parking account has been relying on the city's main fund, which receives property and sales taxes, among other sources.

The City Council's Finance Committee is expected to review parking rates and a long-term budget plan for the parking account by year's end.

By no means is Elmhurst alone with its shortfall. La Grange, with one-third of Elmhurst's population, reported its parking fund deficit was $163,411 for its most recent budget year.