Calgary Parking Authority

Calgary Parking Authority

October 27, 2009 14:15 ET

Calgary Parking Authority Reviews Parking Rates

CALGARY, ALBERTA--(Marketwire - Oct. 27, 2009) - The Calgary Parking Authority (CPA) is currently conducting a comprehensive review of parking rates.

"In addition to performing regular rate surveys throughout the year, each fall we carry out a complete assessment of both on- and off-street parking rates in the downtown and inner city, including Business Revitalization Zones," said Dale Fraser, Calgary Parking Authority General Manager. "This year we are looking at all rate options including progressive rate structures in addition to standard rate structures."

The CPA prices both on-street and off-street parking at prevailing market rates based on regular and frequent surveys of the competition, combined with factors such as type and quality of the facility, current demand, amount of occupied business space near the facility, access to amenities and alternate parking facilities.

The City of Calgary's current policy recognizes parking as a private good that should be paid for by the person who uses the parking space. This ensures that parking is not subsidized by taxpayers. The City's pricing policy is to set private goods at market value.

"As we undertake this review we are aware of the changes in the market and we are mindful that Calgarians are wary of any price increases," said Fraser.

Rate adjustments will be announced at the completion of the review.

Last year the CPA contributed $12.8 million to general city revenue from parking revenues. The CPA operates 13,036 parking spaces throughout Calgary.

About the Calgary Parking Authority
The Calgary Parking Authority fulfills the City of Calgary's parking responsibilities and implements the municipality's parking policies by managing on- and off-street public parking facilities, the enforcement program and providing parking advisory services.

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