Motorists pay directly for using parking facilities. Parking rates should be at the market rate and not subsidized by property owners or employers. Paid parking can result in more efficient use of parking facilities, address specific parking problems, ensure that parking is available for intended users, and reduce total parking requirements. Paid parking, however, can disproportionally impact low-income persons and must be a consideration when setting rates and policies.
The rule of thumb for setting market rate parking prices is that rates should be set so that there is approximately 15% space vacancy.
This measure applies to:
- Residential (Multi-Family): Large Project
- Residential (Multi-Family): Small Project
- Non-Residential (Office, Industrial, Institutional): Large Project
- Non-Residential (Office, Industrial, Institutional): Small Project
- Medical & Lodging: Large Project
- Medical & Lodging: Small Project
- Retail: Large Project
- Retail: Small Project