Item - 2018.PA15.5

The Board of Directors of the Toronto Parking Authority:  

1.  Approved the parking rate adjustments, in the amounts and at the parking facilities identified in Attachment 1 - Proposed Rate Changes and Justifications - 'AC' Controlled Facilities and 'AU' Uncontrolled Facilities of the report (October 11, 2018) from the Acting President, Toronto Parking Authority.

 
2.  Directed the appropriate staff to implement the rate changes for: Uncontrolled Facilities commencing Monday January 7, 2019; and Monthly Rate changes effective February 1, 2019; and Controlled Facilities commencing Monday, February 4, 2019.

In order to meet the Toronto Parking Authority's ("TPA") mandate to provide short-term parking (those parking for less than 3 hours), the Toronto Parking Authority annually reviews the parking rates at all of its off-street parking facilities.  Delivering this mandate is key to supporting Toronto's neighbourhood retail and commercial sector as well as the City's transportation system and infrastructure.  The establishment of an appropriate parking rate structure is a critical policy tool that allows Toronto Parking Authority to effectively manage use, serve the target market, and fairly allocate and encourage turnover of public parking spaces. 

This report details the 2018 parking rate review results and seeks Toronto Parking Authority Board approval for rate adjustments at the off-street parking facilities recommended in Attachment 1 - Proposed Rate Changes and Justifications - 'AC' Controlled Facilities and 'AU' Uncontrolled Facilities.  In total there are 167 Toronto Parking Authority parking facilities (of 231 reviewed) where rate adjustments ranging from half hour, daily/evening maximums, event and or monthly rate changes are proposed.  These parking rates also include Toronto Parking Authority's facilities that are either opening or reopening in the near future.