COIMBATORE: In a bid to sustain the maintenance and operational costs of the upcoming Semmozhi Park, the Coimbatore City Municipal Corporation (CCMC) has decided to lease out the parking area on the park premises to private agencies for installing LED advertising boards.
The civic body plans to implement the move on a revenue-sharing model. As part of the arrangement, a private contractor will install 60 LED display boards, each measuring 6 x 4 feet, in the park's parking lot. The contractor will be permitted to collect advertising charges from businesses and brands, while also paying a fixed lease amount to the Corporation.
According to corporation officials, the contractor will pay Rs 79,800 for each display board, amounting to a total lease value of Rs 47.88 lakh. These funds will help the civic body meet recurring expenses such as staff salaries and routine upkeep of the park.
Officials said that the decision was made to ensure the financial sustainability of the sprawling Semmozhi Park campus, which is currently in the final phase of development. The project, one of the city's largest urban landscaping and recreational initiatives in recent times, is expected to be completed by September this year.
Once opened, the park is expected to be a major green lung space for Coimbatore residents and tourists alike. By monetising the parking space through advertisements, the civic body hopes to maintain the park's quality without burdening the city's budget.