LONG BEACH : Council Studies Higher Parking Meter Fees
The City Council on Tuesday asked its staff to study the possibility of raising downtown parking meter fees to 50 cents an hour from 25 cents.
The Downtown Long Beach Associates, which represents 1,300 businesses, requested the increase to help offset cuts in the Redevelopment Agency’s budget for promotion and marketing of downtown. The agency made the cuts recently after discovering a $2.1-million shortfall in property tax revenue in its 421-acre downtown redevelopment project area this year. The shortfall was caused by declining land values.
In fiscal 1993-94, the downtown area’s 1,021 parking meters generated $393,000 in revenue for the city, city spokeswoman Joan Caterino said.
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