Optimal Municipal Parking Pricing - 5 April 2023 City Hall Insights

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Optimal Municipal Parking Pricing - 5 April 2023 City Hall Insights

5 Apr 2023

Many jurisdictions are rethinking their parking policies; they are reducing parking mandates and expanding when and where parking is priced. [...] Paying directly is more efficient and fair: pricing increases parking turnover and ensures that motorists can always find an available space when they are in a hurry and willing to pay, and generates revenues that can repay facility costs and finance municipal services. [...] 3 Optimal Municipal Parking Pricing: Backgrounder Victoria Transport Policy Institute Efficient Parking Management Efficient parking management means that parking facilities are managed to minimize the number of spaces needed to serve demands. [...] To reduce parking and traffic problems and increase revenue Victoria should expand when and where parking is priced, with rates designed to recover costs and ensure that motorists can always find a space. [...] Downtown parkades are free for the first hour (three hours at the Bay Centre), some downtown businesses provide free parking (Harris Green Village has free surface parking plus abundant parking underground) and free and lower-priced parking is also available on nearby streets.

Authors

Todd Litman

Pages
12
Published in
Canada