Cash Out Program Applications Open Wednesday, April 17
University of Kentucky Transportation Services is now accepting applications for its Cash Out program. Now in its third year, the Cash Out program financially rewards employees who choose to forego a parking permit for one year. Qualified employees who participate in the program will receive $200 over a one-year period, which is evenly divided over each paycheck during the year.
The Cash Out program is for employees who are interested in riding the bus, bicycling, carpooling or walking to campus.
“The Cash Out program incentivizes those who want to make a change from their daily driving commute,” said Sandra Broadus, Transportation Services’ Alternative Transportation Manager. “By offering a financial incentive, Transportation Services is helping employees who are considering alternative modes of transportation make the switch for a year.”
The Cash Out program offers financial rewards well beyond the $200. Over the enrollment period, participants could see a total cost savings of nearly $900 per year associated with not purchasing a parking permit, as well as reduced fuel and vehicle maintenance expenses. Participants may also see reduced health-related costs if they choose walking or bicycling as their primary commute.
The Cash Out program is designed with the goal of reducing the number of motor vehicles trips to, from and around campus, and to promote modes of transportation that save money, foster healthier lifestyles and have lower environmental impacts. Based on those goals, the program is only open to employees who have had a parking permit for the past fiscal year (July 1-June 30), or new employees. Applicants must also have work assignments that are day shift and based on main campus.
Employees may submit an online application for the Cash Out program here. The deadline to apply is July 31. Transportation Services will begin reviewing applications in mid-May and will notify recipients on a rolling basis. Interested employees are encouraged to apply as soon as possible.
UK Transportation Services strives to improve the quality of life on campus by offering responsive, sustainable and reliable access to infrastructure and mobility solutions. To learn more about transportation options, follow Transportation Services on Twitter @UKParking, or visit us online at www.uky.edu/transportation.