"It's not a no. We should be looking at all those things. They're not going to address a $5.4-billion problem. But every little bit helps. Correct. The $5.4-billion figure is a reference to the budget gap that the Mamdani administration is seeking to close, partly through a controversial increase in property taxes."
"According to the Center for an Urban Future, metering just one-quarter of the currently free spaces would generate $1.3 billion annually while improving turnover for local businesses and reducing congestion. Parking revenue represents one of the most significant sources of cash that is within the city's control and does not require the pesky state legislature."
"In a separate interview with Streetsblog, Fuleihan called the debate over parking a very good policy question - and, of course, it's being discussed in the administration. Parking revenue represents one of the most significant sources of cash that is within the city's control."
The Mamdani administration is exploring on-street parking fees as a revenue source to address a $5.4-billion budget gap without raising property taxes. First Deputy Mayor Dean Fuleihan indicated the policy is under discussion, stating "It's not a no" when asked about dynamic parking fees. While Fuleihan suggested such measures alone cannot solve the entire budget crisis, he acknowledged that every revenue source helps. According to the Center for an Urban Future, metering just one-quarter of currently free spaces could generate $1.3 billion annually while improving business turnover and reducing congestion. Parking revenue represents a significant untapped resource within city control that does not require state legislature approval.
Read at Streetsblog
Unable to calculate read time
Collection
[
|
...
]