A city finds its downtown free parking situation is out of control when cars are frequently parked way beyond posted time limits. This creates a lack of space turnover and leads to a loss in revenue for nearby businesses. If not properly managed, the effects can leave lasting effects on both the city and its business owners. One proven solution is the implementation of paid parking meters to address these problems.
Smart technology enables cities to monitor the parking profile of impacted areas and adjust parking rates accordingly. It also allows for limits on parking time, which encourages owners to move their vehicles after a reasonable time or consider parking in a less impacted area. The wireless aspect of Smart Meters, coupled with the IPS Data Management System, helps with both real-time management of parking spaces and long-term planning for future parking solutions.
The additional income allows the city to plan more parking solutions to accommodate future growth, including multi-space, pay-to-park structures, mobile payment capability, and data-gathering sensors. Instead of the parking situation being an inhibitor of growth, it can now an accelerator.
To learn more about the benefits of implementing a paid parking program, see the infographic below or click here to download the pdf.
