Parking meter fees will increase from 50 cents per hour to 75 cents per hour beginning July 1. Richmond City Council approved the increase on May 28.
Results from two parking studies conducted in 2002 and in 2010 indicated the City’s parking meter fee was not commensurate with cities of comparable size. To bring the fees to industry standards City Council adopted Ordinance #2013-99-99.
The expressed purpose for the installation of parking meters is not to collect fees, but to create turnover parking. The use of parking meters resulted in the reduction of long-term parkers from occupying on-street parking spaces that are intended to support retail use.
In the 2002 Desman Study, “A Comprehensive Strategic Parking Plan for the City of Richmond,” it was determined 50 cents per hour was not sufficient to achieve the goal of the parking meter, which is to preserve short term on-street parking spaces. The study suggested an increase to $1 per hour with a two hour minimum.
The Desman Study went on to say the most successful cities have some of the highest on- street parking rates because short-term parkers would rather pay 50 cents or more for a half hour to have an on-street parking space that is close to their destination.
According to the 2010 Tim Haahs Parking Study the ideal rate is reached when the occupancy consistently hovers around 85 percent. The City’s parking occupancy in on-street spaces during peak count was at 100 percent. An increase in price would help reduce the high occupancy percentage while promoting vehicle turnover.