Worcester Business Journal

The issue at hand for Murray – and city offi- cials, thanks to a June report from the Worcester Regional Research Bureau – is park- ing, and whether it is time for busi- nesses and resi- dents to start paying signifi- cantly more for those spaces. "[Parking] has been used as an eco- nomic development tool……[but Worcester] has to move beyond that model," Murray said. "Compared to any metro area...[parking] in Worcester is a real bargain." When downtown was in need of businesses and visitors, parking rates at the 4,685 spaces in city-owned garages, surface lots and on-street parking meters were set below market value to less than $10 per day, in order to lure in people and orga- nizations, accord- ing to the WRRB report. While this worked in sparking eco- nomic develop- ment downtown, the parking system ran in the red – to the tune of $406,840 since 2013, leaving the infrastructure to deteriorate to the point where the city needs to spend $17.7 million on improvements in the next 10 years. The report recommends the city raise its rates to pay for these improvements. Urgent care 14 Central Mass. hospitals are opening more urgent care centers, as the need for doctors rises. WBJ >> To Subscribe Central Massachusetts' Source for Business News July 18, 2016 Volume 27 Number 15 www.wbjournal.com $2.00 Shop Talk 8 Q&A with Kent Russell, CEO and curator of the Museum of Russian Icons With growing signs of downtown revitalization, city and business officials confront subsidized parking rates to improve infrastructure Money-losing operation Worcester's government does not bring in enough money to cover the costs of its parking operations. Revenues after operating costs*, Facility 2013-2015 *Not including deferred and basic maintenance costs **Not including fines Source: Worcester Regional Research Bureau Needed maintenance Maintenance issues at the four city-owned parking garages total $17.7 million. Worcester Cost of needed municipal garages maintenance Source: Worcester Regional Research Bureau The Price of Parking The condition of Worcester 's parking facilities have deteriorated to the point that motorists who receive citations can simply appeal by saying the meter was broken. BY JON MCINTYRE Worcester Business Journal Staff Writer Timothy McGourthy, executive director of the Worcester Regional Research Bureau Timothy Murray, president and CEO of the Worcester Regional Chamber of Commerce Out of its new Marlborough headquar- ters, GE Healthcare aims to become a global leader in precision medicine. Focus on life sciences 12 D owntown Worcester is at a tipping point, where the city needs to be less concerned about incen- tivizing businesses, residents and visitors to the area and more concerned about providing a positive experience for those going downtown, said Timothy Murry, president and CEO of the Worcester Regional Chamber of Commerce. Regulating Airbnb down to earth T he Worcester City Council has charged City Manager Edward Augustus and his team at City Hall with the unenviable task of estab- lishing local regulations around the ser- vices provided by San Francisco technol- ogy firm Airbnb. This latest council order, passed down in late June, puts the city at odds with the emerging disruptive industry, where unlicensed residents can make money by renting out their homes or – in the case of Uber and Lyft – driving people around in their cars, previously underground ventures now brought to light by these technology companies. Because of the disorderly nature of this sharing econo- my, regulations are hard to draft and even harder to enforce. "I wouldn't want to regulate it out of existence because I feel – just like Uber – there is a place for it in society," City Councilor-at-Large Moe Bergman said of Airbnb. "Capitalism works; and there's a niche to this, and that's why it's popular." Regulatory efforts by other cities are being closely watched by Amanda Wilson, the city's director of housing and health inspections, who is part of the team examining current city ordinances Amanda Wilson, the city 's director of housing and health inspections, is part of the team working on Worcester 's Airbnb regulations. BY SAM BONACCI Worcester Business Journal Digital Editor >> Continued on Page 10 >> Continued on Page 10 P H O T O / S A M B O N A C C I P H O T O / M A T T W R I G H T Federal Plaza Garage -$351,109 Major Taylor Garage -$625,888 Pearl-Elm Garage $2,523,003 Union Station Garage -$1,749,900 Surface Lots -$394,406 On Street Meters $151,460 TOTAL SYSTEM** -$446,840 Federal Plaza garage $2.4 million Major Taylor garage $3.67 million Pearl-Elm garage $10.4 million Union Station garage $1.2 million

• Cover