On The Verge

Despite seeing increased parking demand and raising parking rates, the Ann Arbor Downtown Development Authority is on the verge of running a deficit in its parking fund — a circumstance that would violate state law, according to an auditor. Alan Panter, a certified public accountant from Abraham & Gaffney P.C., offered an overview of the DDA's latest audit during a committee meeting today. "The parking fund is close to a zero fund balance," Panter said. Read the story.