Parking rates spike for New Year’s Eve
Municipal parking near Clifton Hill will be a flat rate of $40 on New Year’s Eve as the city implements its new parking rate strategy.
The regular rate at the Ellen Avenue lot is $3 per hour to a maximum of $12 per eight-hour period.
City council approved a recommendation from staff earlier this month to replace the municipality’s outdated parking rate system with a new policy that is more responsive to demand and can maximize revenue opportunities during major events and peak season time periods.
After 4 p.m. on New Year’s Eve, for example, the Ellen Avenue municipal parking lot near Clifton Hill will be a $40 flat rate, while parking in the Fallsview area will be $20.
Also, Clifton Hill will be closed to vehicular traffic starting at 7 p.m.
“The goal is not about taking advantage, it’s not about gouging, it’s about being right in the middle of the market place so we’re not leaving money on the table and at the same time we’re not overcharging for times that we shouldn’t be,” said Mayor Jim Diodati.
“This is about being responsive to the needs of the consumer and at the same time trying to raise extra revenue to help pay for the parking lots so we can keep the taxes low.”
Parking rates at municipal lots range from $1.25 to $3 an hour, depending on location, to a maximum of between $4 or $12 per eight-hour period, depending on location.
Under the new parking rate strategy, rates can be increased or decreased to reflect supply and demand.
“Before, rates were static, the same price all the time regardless of what day, what month, so the price on New Year’s Eve was the same as a Tuesday in February during a snowstorm,” Diodati said.
“Now, there is going to be dynamic parking that responds to supply, demand and market rates.”
The new strategy, he added, will allow the city to compete with private lots which often increase parking rates during large-scale events. Last New Year’s Eve, for example, some private lots were charging $40 to $50.
Also, this month, the city launched Honk Mobile, which allows motorists to make cellular payments at pay-and-display machines in parking areas throughout the city.
The city also offers monthly parking passes which range from $28 to $45 per month, depending on location.