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Parking Garage Developer Wants $2.8M Handout From County

ORLANDO-In a bizarre scenario, Volusia Redevelopment Parking Corp. is asking Volusia County government and the developer of the $200-million Ocean Walk Resort for a financial safety net on its $12 million, 1,500-space, two-year-old venture that few motorists are using in tourist-oriented Daytona Beach.

By Alex Finkelstein | Updated on May 22, 2002

ORLANDO-Hit hard by a dearth of customers in touristy Daytona Beach, Volusia Redevelopment Parking Corp. fears it may have to shut down its two-year-old, $12 million, 1,500 space garage on Earl Street by June 1 if it doesn’t get a hefty financial bailout.

The developer, purportedly a nonprofit registered company, is turning to Volusia County government and the developer of the nearby $200 million Ocean Walk condominium resort for help. The developer wants the county to advance $2.8 million in parking space fees. That’s the total amount the county is obligated to pay the developer for a total 22 years through 2024.

The nearby Adventure Landing water park pays the county for spaces used by its patrons. The general public also uses the garage.

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