It will soon cost a little more to park at dozens of Green P lots across the city.
Increases to the hourly and monthly rates at 20 different Green P lots and garages across Toronto will take effect on Jan. 14 with another set of increases affecting 137 more lots scheduled to take effect on Feb. 11.
The increases are part of an annual review conducted by the Toronto Parking Authority with the goal of ensuring that its lots have an average of 15 per cent of their spaces unoccupied at any given time.
All told, the rate increases are expected to result in an additional $1 million to $1.4 million in annual revenue, more than enough to offset the estimated $110,000 cost of implementing the changes.
In a report delivered to the board of the Toronto Parking Authority in October, its acting president Andrew Koropeski said that the increases are necessary to make sure that the agency “delivers its mandate of providing short-stay high, turnover parking.”
“The goal is to establish pricing that ensures some parking spaces are always available,” he wrote.
The increases, set to take effect next week, range from $5 to $25 a month and about 25 to 50 cents per half hour.
Some lots will also have the daily maximum rate scrapped -- a move that is expected to create more short-term parking spaces.
In total, the increases will affect 167 of the 231 Green P lots that were reviewed.
Follow this link for a full list.
