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Parking Rates Could Rise in Downtown Chapel Hill

Parking Rates Could Rise in Downtown Chapel Hill

CHAPEL HILL-The Chapel Hill Town Council is poised to increase some parking fees to make sure the town’s parking fund stays solvent.

According to the town’s business management director, the parking fund assets have declined since the closure of Lot 5, which has been subsequently redeveloped into 140 West.

The town borrowed $7.2 million dollars to build 161 public underground parking spaces in that development, and although the debt service for the project is less than anticipated, the parking fund will continue to operate in the red without a price increase.

In response, town officials suggest raising the rates for on-street metered parking on Franklin Street by 25 cents to $1.50 per hour. That rate increase will also affect parking on Mallette and Graham streets. Parking at the lot on the corner of Rosemary and Columbia will go up 20 cents to $1.50 per hour.

If approved, the rate increases will be included in next year’s budget plan.

As always, on-street parking is free after 6 p.m., lot parking is free after 8 p.m., and all downtown parking is free on Sundays.

1 Comment

  1. Richard Leber

    I hope Town Council approves these parking fee increases. These proposed increases would support the concept that users of town services should pay more user fees instead of having the increased cost of all town services paid the other town revenues such as property and sales taxes. Enacting fees for use of Park and Ride lots is another example of increased user fees.

    I won’t be surprised to see a bus rider fee enacted in the next year or two. Hopefully additional user fees will eliminate the need to increase Chapel Hill property taxes.

    Reply

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