City of Los Angeles and IPS Group, Inc. Awarded by U.S. Mayors for Excellence in Public/Private Partnership for Coin/Credit Parking Meter Technology Upgrade

SAN DIEGO, Jan. 26, 2012 /PRNewswire/ -- IPS Group, Inc. and the City of Los Angeles Department of Transportation (LADOT) have been honored by the United States Conference of Mayors for Excellence in Public/Private Partnership for its innovative work providing parking meter technology for the City of Los Angeles.

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In 2010, San Diego-based IPS installed 10,000 coin and credit card capable single-space parking meters in Los Angeles in a unique partnership that required no up-front investment by the City, and also mandated that all payments would be made based on the increased revenue generated by the state-of-the-art meter system.  After three years of payments, the City will own the meters.  As a direct result of the upgrade, the City experienced a 50% increase in meter revenue and over 99% meter up-time.  After a thorough review of the impact, the City soon called for the installation of 10,000 more IPS meters using this model.

"We're building a 21st century transportation system in Los Angeles and these new, modern parking meters are a valuable part of our overall plan," said Los Angeles Mayor Antonio R. Villaraigosa.  "We are extremely proud of the partnership between LADOT and IPS.  Given the budget challenges faced by so many cities today, it is our hope that this can serve as a model that other municipalities will seriously consider."

IPS's coin and credit card meters are solar powered and designed to retrofit into existing on-street meter housings. The rapid deployment of new technology saved Los Angeles millions of dollars in capital costs, and is now preventing the disposal of more than 60,000 AA batteries each year from traditional meters. A real-time web-based data management system supports enhanced revenue control and asset management.

"We are delighted to receive this award from the Conference of Mayors," said Dave King, President and CEO of IPS Group.  "This is a model of partnership in which the City of Los Angeles has taken a leadership position, and we hope to extend such best practices into cities across the country."

Today, more than 80% of Los Angeles' single-space parking meters have been converted to IPS meter technology. The company has changed the way public/private partnerships are formed. IPS's creative approach to the challenges of supplying new parking meter technology to Los Angeles has shaped a more flexible and symbiotic example for partnerships between city and industry. Sound financial principles, cutting-edge technology, and respect for the environment are combined for the benefit for all involved; particularly the end customer.

"We are truly honored," said King. "We are proud of our work with the City of Los Angeles, and this award is the culmination of this successful partnership."

San Diego-based IPS Group, Inc. is a design, engineering and manufacturing company focused on low power wireless telecommunications and parking technologies. IPS manufactures locally and has been delivering world-class solutions to the telecommunications and parking industries for over 15 years.

IPS Group is the only proven provider of a solar-powered, credit card enabled, single-space parking meter in the world. To find out more information go to www.ipsgroupinc.com

SOURCE IPS Group, Inc.