The City is proposing to establish two distinct Parking Benefit Districts, a “Downtown Benefit District” and a “River Benefit District,” to encourage support for on‐street paid parking by dedicating a percentage of net meter revenue back to the areas it was generated.
Revenue generated within the Parking Benefit Districts would accrue to the Parking Management Fund, and 30% of net revenue (after expenses) would be allocated for expenditure within the Districts.
The Council-appointed Parking Advisory Board would oversee the distribution of funds.
Specific terms and conditions for the use of these funds, are proposed to be established by Ordinance.
Common Parking Benefit District expenditures include sidewalk/walkability improvements, district beautification, and transportation or parking investments.