As part of the MDP and the Calgary Transportation Plan to support more transit-supportive mixed-used activity centres adn corridors, the City has been consulting with the BIA and CA on how to manage parking supply in the area. The purpose of the parking revenue allocation policy is to explore how money generated from parking revenue can go back in to the business and community areas for local improvements. Below is a timeline of of the project activities:
February 2016: City conducts a targeted survey witih BRZ and CAS in areas where on-street parking charges are currently in place. Based on the survey a recommended was presented to SPC on Transportation and Transit. To read highlights of the model, click here (http://www.calgary.ca/Transportation/TP/Pages/Strategy/Parking-Revenue-Allocation-Policy.aspx)
November 2016: a model is presented to SPC on Transportation and Transit
January 2017: model is revised and will be presented to SPC on Transportation and Transity on January 18th 2017. The main changes from November are that the City will retain the money in reserve, and that the expenditures will be focused on public realm improvements. The public realm improvements list is similar to the one that was discussed for the original model this past April.
To read the revised policy, see the comparision between the November (old) and January (new) policies as well as list of potential public realm improvements, visit the project page.
Summary of the policy:
-50% of eligible returns (from the parking revenue generated) will be placed in reserve for reinvestment in public realm infrastructure in paid parking areas. The remaining 50% of eligible revenues will be allocated to the Budget Savings Account.
-The public realm reinvestment amount will be proportional to the share of revenues generated within the Business Improvement Area (BIA) and outside the BIA.
-CAs likley fall outside the BIA. The City will work with affected CAs to discuss potential projects to be undertaken with the funds.
-The City will post the available funds and annual amounts by March 1 of each calendar year on The City’s website.
-Reinvested revenues can be used for mobility or public-realm improvements. A list of eligible items will be published on The City’s website.
If you have any questions about the policy, do not hesitate to contact a Federation planner. We will be keeping you updated on the timeline of this project.