Item - 2020.PA18.4

The Board of Directors of Toronto Parking Authority:

1.  Deferred the 2020 comprehensive On-Street Rate Review to 2021.

 
2.  Forwarded the report (October 20, 2020) from the Acting President, Toronto Parking Authority to City Council for information.

Every three (3) years Toronto Parking Authority (TPA) undertakes a comprehensive review of the hourly parking rates and the hours of operation of its on-street paid parking program. The purpose of the rate review is to evaluate performance of the program and ensure rates and hours of operation are set to encourage the turnover in parking throughout the day. The last comprehensive review was undertaken in October 2017.

Given the widespread impacts that the Covid-19 pandemic has had on the commercial retail sector and in turn on parking demands in the city, TPA’s on-street paid parking program has seen a significant reduction in both the total number of transactions and revenues generated. Parking activity during 2020 has also been affected by the variety of initiatives introduced by the City of Toronto (City) to support businesses, communities and residents during the first wave of the Covid-19 pandemic and subsequent recovery period. While TPA has worked closely with Transportation Services to support the City’s CafeTO and CurbTO initiatives, these programs have together resulted in the elimination of at least 800 on-street paid parking spaces. Other programs, such as ActiveTO, which has delivered an accelerated implementation of cycling infrastructure on major arterial roads have also impacted the supply of on-street paid parking. Other external factors, such as the temporary postponement of enforcement activities by Toronto Police Services resulted in compliance concerns and parking activities that are not easily monitored.

Given the ongoing financial impacts associated with the pandemic and a continued effort to support the City and its residents, communities and businesses during this challenging time, TPA is recommending that the 2020 on-street rate review be deferred to 2021 and that no adjustments to rates or hours of operation be considered at this time.

This report also responds to the request from Toronto City Council for TPA to include a Parking Market Analysis as part of its annual Budget Submission.  The purpose of the analysis is to review the effect that rate changes have had in terms of usage levels and parking revenue as well as calculating the price elasticity associated with changes to rates. While the Parking Market Analysis required as part of the 2021 budget process would have assessed the impact of any rate adjustments implemented in 2020, no rates were changed and therefore no analysis can be undertaken.  A further Parking Market Analysis will be carried out and considered as part of the 2022 budget process.