Title
PARKING STRATEGY AND RATE REVIEW PRESENTATION
Dave Friary, Director of Roads, Parks and Fleet provided a presentation regarding the Parking Strategy and Rate Review. Mr. Friary reviewed background information associated with the development of the Parking Strategy including the mandate of the Parking Strategy and Rate Review Team. He outlined the assumptions related to non-resident paid parking on the waterfront that were utilized to prepare estimates of the financial implication of this alternative. Mr. Friary outlined the potential revenue that could be generated if a $20.00 annual resident parking pass program was implemented. He provided a chart summarizing the impact on the reserve balance associated with various parking operation scenarios. Mr. Friary noted that increasing the cost of monthly passes and/or consolidating the current pass types could result in additional revenues. Mr. Friary reviewed the current parking enforcement hours and provided the estimated additional revenue associated with extending parking operations on Mondays to Fridays until 11:00 p.m.
Mr. Friary concluded by providing additional options available for consideration that could generate additional parking revenue. He provided a chart which illustrated the potential revenue associated with the various options for parking.
Members of the Committee and Members of Council in attendance asked several questions related to the information provided and received responses.