LEXINGTON, Ky. (April 26, 2021) — University of Kentucky Transportation Services is now accepting applications for its Cash Out program. Now in its fifth year, Cash Out financially rewards employees who choose to forego a parking permit for one year.
The program is limited to the first 100 qualified applicants.
Cash Out provides participants with $200 over a one-year period, evenly divided across paychecks. It’s designed for employees who are interested in alternative modes of transportation, such as riding the bus, bicycling, carpooling or walking to campus.
“Cash Out provides a tangible benefit for employees who choose a car-free mode of transportation,” said Sandra Broadus, Transportation Services’ alternative transportation manager. “Its goal is to support healthy behaviors while also decreasing the number of motor vehicles on campus.”
The financial benefits to participating extend well beyond $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 health-related benefits if they choose walking or bicycling as their primary method of commute.
The Cash Out program is only open to employees who have had a parking permit for the 2020-2021 fiscal year (July 1-June 30) or are a new employee with a start date of September 2020 or later. Applicants must also have work assignments that are day shift and based on main campus.
The online application for the Cash Out program is now open and will close after the program is full. Transportation Services will begin reviewing applications in June and will notify recipients as they are approved. Interested employees are encouraged to apply as soon as possible.
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