Six months after raising rates at city parking meters, Mayor Michael Bloomberg announced yesterday that he’s bumping up the price a second time.
Parking rates will rise is January from 75 cents to $1 an hour in residential areas and from $2.50 to $3 an hour in commercial areas. The last raise increased hourly rates from 50 cents to 75 cents on residential streets and from $2 to $2.50 in commercial zones.
The scheme is expected to add $24 million to city coffers, and city officials are still boasting about how our meters remain a bargain.
“The parking rate in Manhattan was very low. Historically the off streets are still far higher than the on street rates,” said Department of Transportation Deputy Commissioner Bruce Schaller. “I think people understand that the parking has been underpriced in Manhattan and understand the rationale behind the higher rates.”
The hikes don’t end there, either. The city is toying with the idea of expanding a program called “Park Smart,” where parking rates in commercial areas are raised dramatically during peak hours to encourage turnover. Kings Highway briefly served as a test area for the program, so it’s probable that it’ll make a return if the city moves forward with Park Smart.
Props to Death for sending me the article, yo.