Chicago Cashing In on Privatized Parking; Could LA be Next? (Steven Dornfeld, City Watch, Dec. 19, 2011)
Also discussed here: CPM-Chicago Parking Meters
A key example of the value of applying the pricing concept to parking rates is described in the article reviewed today about Chicago where the investment in the new technology needed for smart meters and dynamic rates was covered by leasing the parking system to the private sector. The result is increased revenue to the city, less congestion and vehicle emissions downtown as fewer vehicles have to search for a parking space and a public that is slow to accept it- the director of parking amusingly said “Thank God we don’t have capital punishment” in Illinois”. This reminds us of the slow careful approach used in Stockholm to gain public acceptance of congestion pricing there.
To see Key Quotes and Links to key reports about this post, click HERE
Filed under: PRICING, Urban Traffic Tagged: | parking, pricing, traffic, urban
