IPS Group, based out of San Diego, recently released an update on their installation of the parking meters on The Square.
The City of Oxford accepted the bid made by IPS, who specialize in smart parking meters that don’t require additional infrastructure as they are solar powered and communicate through wifi.
“The implementation of parking meters in our downtown square has been an overwhelming success. The revenue generated has exceeded our expectations. However, more importantly they have helped create access where it was once limited,” states Mike Harris, Downtown Parking Advisory Commision member.
The annual revenue generated by the parking meters is just over $500,000, which is on the high end of the potential earnings for the installation. These funds are being used to fund the new downtown parking garage.
“IPS meters are without a doubt the best thing that we’ve done for parking in the past 20 years,” states Joey East, Chief of Police of the Oxford Police Department.