10.5 - Costs
10.5 - Costs
Increased management and transaction costs
Parking management often increases administrative responsibilities for public officials and facility managers, and additional responsibilities and inconvenience on motorists.
Parking charges and restrictions in one area may cause motorists to park in other areas where they create congestion problems. This may increase management and enforcement costs, and create conflicts between neighbours.
Parking cost savings
Parking cost savings depend on the ability of facility managers to sell, lease or rent excess parking capacity. For example, if a business has 100 parking spaces, and its commute trip reduction programme reduces demand to 60 parking spaces, it will have 40 parking spaces that are no longer needed. The business will need to sell, lease or rent these spaces, or convert the land to other uses, in order to benefit from this reduced demand.
Some counties use parking brokerage services, sometimes through a transport management association, a chamber of commerce or other organization to help businesses capture parking cost savings.
