Has the LFCPA increased the rates for meters in the downtown area? If so, are all affected? Which ones are being increased?
The Lexington & Fayette County Parking Authority (LFCPA) has announced the first parking meter rate increase in 10 years for the busiest spaces in downtown. They are increasing the amount from $1 per hour to $1.50 per hour. This increase will take into affect on March 1, 2019.
This increase will mainly hit the core downtown parking spaces and a few in the UK area. The spots that cost 50￠ will not be affected by the increase.
The LFCPA isn’t doing this increase just because “it was time”. They have two goals in mind with the increase.
- Increase turnover on heavily parked streets, which will provide more convenience for drivers who will be able to park closer to their destination and ensure a steady flow of customers to downtown businesses.
- Provide additional funds required for the $4 million in maintenance needed over the next four years.
“In the last three years, we’ve had two different consultants recommend rate increases as part of an operational study,” said Gary Means, Executive Director of the Parking Authority. “We’ve done our homework, and we believe that the rate increase will create more convenient parking by opening up spaces closer to a driver’s destination. It also will provide much-needed parking revenue to make ongoing safety improvements and technology upgrades.”
Cities such as Louisville and Cincinnati charge $2 per hour to park. The increase puts Lexington at the same maximum rate as Indianapolis and Nashville.
Other areas outside the urban core, such as the Woodland Triangle, Chevy Chase and Streets to the North and East of the core won’t see an increase. Their occupancy rates throughout the day are lower than those in the downtown area.
Structural repairs, emergency lighting, and elevators with obsolete parts are among the most critical needs for the additional funds.
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