The Department of Conservation and Recreation (DCR) announced Monday that LAZ Parking is the winning bidder of a five-year permit for operation of the Charles River Reservation Storrow Drive parking lot – previously rented and used by Mass Eye & Ear Infirmary. The winning bidder also promised more access to the lot in off hours for local residents of the area, something not accommodated now.
LAZ’s winning bid of nearly $5.2 million is more than eight times the revenue currently received by taxpayers, which was a measly $120,000 per year until now. In fact, Mass Eye & Ear reported prior to the bidding process that even though it rented the lot for just $120,000, it was turning a profit of some $500,000 per year, according to press reports.
That license had expired in 2009, but no one had realized it until a report this past January ignited a new bidding process.
Under the terms of the RFP, DCR will issue a Bid Award to LAZ Parking by December 28th, and will finalize an Operating Permit with LAZ by January 31, 2013.