Rates on the way up as Ontario city tries to make downtown parking ‘self-sustainable’ [Video]

The old axiom is ya gotta spend money to make money and the City of Oshawa is planning to implement that philosophy in getting ahead of parking issues downtown before they become bigger problems.

It’s probably more accurate to say the city is going to spend some money to lose less money, with the “possibility” of achieving a self-sustainable and cost-neutral municipal parking operation in future years.

Oshawa’s Community and Operations Services Committee approved a plan this week for an interactive parking map downtown; the installation of digital advertising signs at the Mary Street garage; and an increase in parking permit fees by 15 per cent and the hourly rate by 50 cents.

The $132,000 in capital expenses required would be offset by estimated annual revenue of more than $540,000.

Council directed staff in December to investigate and report back on options to modernize the existing municipal parking system’s serviceability …