Instead of free parking, cities can evaluate curb parking with a price. This price should be high enough to keep some vacant parking spaces for drivers who wants to park their cars near their destination. The market can determine the price according to parking demand. The market price balances parking demand and supply without additional construction and maintenance cost (Shoup, 2002). Instead, reducing various facility costs is one of the most important benefit of parking pricing (Litman, 2009).
Charging for curb parking has different ways but the basic way is parking meters. Motorists buy a specific amount of time from the meter and cannot get more time than described. To extend the time, motorist should go to meter each time to feed. Its aim is to ensure turnover of parking spaces rather than gain revenue. New Technologies allow drivers more flexibility regarding to time such as “pay and display” multi-space parking meters, “pay-by-space” meters and personal in-vehicle parking meters (Shoup, 2002).
Parking benefit districts has emerged as a new tool for existing neighborhoods related with …show more content…
In Business Parking Benefit Districts (BPBD), all parking meter revenue goes to public services in the district such as cleaning, planting, providing bus shelters. Most of the time, these curb parking spaces are not enough for employees and visitors so, parking spillover can be occur. To solve spillover problem in business districts, planners create Residential Parking Permit Districts. While residents of these neighborhoods and their guests park free in front of their house, nonresidents also can park vacant spaces with price. The revenue from the meters are also spend for the improvements of the neighborhood where the revenue is collected like BPBD. It means, parking benefit districts offer neighborhoods a valuable, income earning property-curb parking spaces (Shoup,
Charging for curb parking has different ways but the basic way is parking meters. Motorists buy a specific amount of time from the meter and cannot get more time than described. To extend the time, motorist should go to meter each time to feed. Its aim is to ensure turnover of parking spaces rather than gain revenue. New Technologies allow drivers more flexibility regarding to time such as “pay and display” multi-space parking meters, “pay-by-space” meters and personal in-vehicle parking meters (Shoup, 2002).
Parking benefit districts has emerged as a new tool for existing neighborhoods related with …show more content…
In Business Parking Benefit Districts (BPBD), all parking meter revenue goes to public services in the district such as cleaning, planting, providing bus shelters. Most of the time, these curb parking spaces are not enough for employees and visitors so, parking spillover can be occur. To solve spillover problem in business districts, planners create Residential Parking Permit Districts. While residents of these neighborhoods and their guests park free in front of their house, nonresidents also can park vacant spaces with price. The revenue from the meters are also spend for the improvements of the neighborhood where the revenue is collected like BPBD. It means, parking benefit districts offer neighborhoods a valuable, income earning property-curb parking spaces (Shoup,