Get ready to pay more for parking.
In an attempt to create more curbside parking, the City of Vancouver has decided to increase parking meter rates.
The City says parking rates will better reflect how street parking spaces are being used, block by block.
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The City is aiming to adjust parking rates to free up a curbside occupancy of two spots per block. In order to do this, rates will be raised by one dollar per hour in very busy areas.
In areas where demand is low, rates will be lowered by one dollar per hour.
Currently, there are 10,000 metered parking spaces in Vancouver, which range from $1 to $6 per hour (based on location) and are in effect between 9 am and 10 pm daily.
Annual revenue from parking is about $50 million per year.
Decisions on the number of meters affected by the rate change will be made in early 2017.
A summary of the parking meter changes proposed by the City include:
- Different daytime (9 am to 6 pm) and evening (6 to 10 pm) rates
- Hourly rates are to be rounded to the nearest whole dollar to facilitate better communication and wayfinding
- Parking meter rates will be adjusted annually based on data collected by the City
- Parking meter rates are to be raised $1 per hour in areas where the peak curbside occupancy exceeds 85%
- Parking meter rates are to be dropped by $1 in areas where curbside parking is lower than 60%
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