$100 for a Year’s Worth of Parking

A new report [pdf] from the New York City Independent Budget Office explores the idea of a residential permit parking program:

Under the proposal, permit parking zones would be created in selected areas of the city. Within these zones, only permit holders would be eligible for on-street parking for more than a few hours at a time. Permits would be sold primarily to neighborhood residents, although they might also be made available to nonresidents and to local businesses. IBO has assumed an annual charge of $100, with administrative costs equal to 20 percent of revenue.

Opponents might argue that it is inherently unfair for city residents to have to pay for on-street parking in their own neighborhoods. Opponents also might worry that despite the availability of public transportation or off-street parking, businesses located in or adjacent to permit zones may experience a loss of clientele, particularly from outside the neighborhood, because more residents would take advantage of on-street parking. Some opponents may note that in cities and towns that already have residential permits, it appears to have worked best in neighborhoods where single-family homes predominate.

The report claims that two million dollars will be generated the first year of the program, but it fails to mention $46 million in parking revenue that could be reaped if government workers didn’t park for free.