Life and Times had a story last week about the parking meter revenue in Pasadena and how it made such an impact on their Old Town area. They ask "Where Should Parking Meter Money Go?" In Pasadena, that money is re-invested in the district in which it was collected, which in their case, is Old Town Pasadena. In many ways, it acts like the BIDs act in Los Angeles. See, in L.A. the parking meter revenue is collected into a citywide fund called the Special Parking Revenue Fund, which was established as such in 1972. This fund can only be used in the districts where parking meters exist "for purchasing, leasing, acquiring, designing, constructing, improving, operating and maintaining public off-street parking facilities and parking meters in the City." Until the end of the 90s, this was done by council district,but has since changed to actual local meter districts (like Miracle Mile, Eagle Rock, North Hollywood, etc.)So, the money does stay with the meters, but it is spread throughout the City (although, this SPRF also pays for the "validation cost" for patrons at the Central Library - about $176,000 in 2005 alone). The rational has been that no one meter district can generate enough money on its own to garner the results that a combined fund can create. This is what paid for the Hollywood & Highland parking, as well as all the off-street lots you see throughout the City from Larchmont to Westwood to Highland Park to Studio City to Reseda. The question, as pointed out by this L&T segment, of where the monies should be spent was reviewed by the City in 2004, and it was determined that the citywide special fund was the way to go in Los Angeles. The fund gets an influx of money every January in the millions of dollars, but much of the money is designated for debt repayment.
An interesting point that UCLA Professor Donald Shoup, "a foremost expert on the science of parking," makes during the segment is that "The annual subsidy for parking in the United States is somewhere between what we spend for Medicare and national defense." Shouldn't we all park for free, though? Isn't that the American way? The professor says that's the wrong mindset, but I'm not so sure about that.
Related LACN parking meter stories:
Toy/Fashion District parking meters
5 parking tips for LA
Eagle Rock parking meter zone rates
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4 comments:
Why should parking--on- or off-street--be free? That is to say, why should either the city or a private landowner be required to lend you a 10'x15' storage pad?
Interesting, Nerd.
I am glad I finally remembered to checkity check your site. Always informative.
Thanks.
Los Angeles sure has gotten more parking metered than I remember it.
also, keep in the mind that other council districts can borrow from larger parker meter revenue funds...downtown get pilfered all the time....it generates the most....the cra parking study suggested that funds should stay in the districts generated...with so much being generated in DT that is borrowed by other Council districts, doubt that will happen...
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