BANFF – Revenue generated from paid parking looks set to go back into Banff’s overall vision for an integrated transportation system in the national park townsite.
Administration has drafted a reserve policy for the governance and finance committee’s consideration on what types of projects the net revenues from paid parking – estimated to be about $1.1 million a year – should be spent on.
Beyond funds needed to implement the new paid parking system, administration recommends money be used for roadway and parking improvements, transit enhancements, increased snow clearing, and cycling or other transportation initiatives based on public feedback in 2019 and 2020.
Chris Hughes, the director of corporate services for the Town of Banff, said the draft policy for the reserve is a starting point for the committee’s discussion at its meeting on Monday (March 22).
He said any revenue generated from paid parking, less any direct expense related to the implementation and ongoing costs of the program, would be held in this reserve for future use.
“Council will approve the use of these funds for specific purposes through the budget process, or by motion outside of the annual budget process,” Hughes said.
“Administration will update council annually during service review on the reserve balance and any funds that have been dedicated.”
The Town of Banff will introduce visitor-pay parking in the downtown core in May.
The paid parking program aims to increase the availability of short-term parking spaces in the downtown, while providing an incentive for people to use free nine-hour parking at the train station, on Bow Avenue, and in the Bear Street parkade.
The rate for parking in the downtown paid zone will be $3 per hour, but drops to $2 per hour next winter.
Visitors will be able to download a parking app before they arrive and use their mobile phones to pay when they park, or using a pay station on the street for coin or card payment. Licence plate reader technology eliminates the need to display a dashboard pass or receipt.
In addition, the Town is introducing a residential parking permit system to keep parking on neighbouring residential streets close to the downtown core available for residents.
The permit system will allow all registered residents to park for free for up to three hours in the paid downtown zone. Any resident with a registered vehicle can also park on the restricted residential streets.
Mayor Karen Sorensen said Banff has been dealing with traffic congestion for a number of decades.
“We know it has been frustrating for residents and visitors circling our downtown looking for a parking space, even the past summer during the global pandemic,” she said.
