CANMORE – A decision on the future of the paid parking reserve could be determined during upcoming Canmore budget talks.
After Town of Canmore staff recommended the specific paid parking reserve be eliminated and its revenue put into the municipality's asset replacement and rehabilitation reserve, council referred the discussion to finance committee as part of budget deliberations.
“I think it will be beneficial for council to track a direct line between paid parking revenues and the reserve, and at budget time we approve those decisions on what to use the money for in the capital plan,” said Coun. Tanya Foubert, who brought forward the motion to originally postpone but ultimately to further discuss at budget.
Foubert said she felt that putting the paid parking revenue into the asset replacement and rehabilitation reserve didn’t align with council’s original direction, which she said was aiding in transportation and downtown improvements.
“The key distinguishment I would make is, in my mind, I saw paid parking revenue leading to transportation and downtown improvements, not asset replacement,” she said. “You could argue that replacing the asset that needs to be replaced are an improvement. When I think of improvements, I think of things that don’t already exist so additional transit routes, additional transit hours.”
Coun. Wade Graham echoed Foubert’s comments, highlighting he wanted “to be able to say to the public paid parking pays for this, this and this,” but understood the importance of asset management.
With asset replacement and rehabilitation a priority, Coun. Joanna McCallum said council could look at simply taxing for it since it’s a necessary expense.
“I feel like if we want to put money in our asset rehabilitation reserve, we should just tax and put money in our asset rehabilitation reserve because that’s what it costs to run our town,” she said.
The decision followed a staff presentation on the proposed paid parking revenue allocation model (PPRAM), which had been a council direction at the 2023 budget deliberations.
The proposed paid parking revenue allocation model “will provide clarity for how net revenues will be directed and will inform upcoming budget processes,” according to the staff report.
The three principles that make up the proposed paid parking revenue allocation model are cost recovery, benefits and subsidies and management of public assets.
The staff report highlighted that paid parking management should always be covered first, the cost of parking being covered by those who use it and subsidizing a portion of public transit and managing Town assets.
Town staff recommended a fixed amount be provided to transit operations each year, with the total being informed by the transit requisition from Roam.
The staff report stated that putting a share of net revenue into the Town’s asset replacement and rehabilitation reserve would aid in maintaining roadway and parking assets that are “a significant cost in [the Town’s] capital plan.”
“The principle is guided by paid parking having a significant amount of infrastructure and capital costs that need replacement over time,” said Therese Rogers, the Town’s general manager of corporate services.
At the 2022 and 2023 budget, council approved spending a portion of revenue from paid parking on public transit. However, prior to paid parking being implemented, a more conservative approach to funding transit was originally forecasted. But with the success of paid parking, significantly more has gone to financially aid local transit in Canmore.
The report noted as of July 31, paid parking revenue was $1.869 million and after expenses was $1.398 million. At the 2023 budget talks last year, $685,000 went to local public transit, $41,050 went into reserves and $50,000 to the Town Centre grant program. However, with net revenue for paid parking significantly above original projections, council could decide where to allocate the remaining funds.
Council directed Town staff in late 2022 to create a Town Centre grant program to allow some net revenue from paid parking to be used downtown. The program allows the Downtown Canmore BIA to apply for funding to help in the downtown. Council approved $50,000 a year for the program.
The funding would be reviewed by Town against council’s strategic plan, Town guiding documents, alignment with the Town’s transportation and parking plans and the potential economic benefit.
“The grant program creates a mechanism through which the BIA can request funding to deliver on projects, programs, or initiatives to support the enhancement of the BIA area in alignment with Town strategic documents while keeping the focus on areas of the BIA boards' strategic priorities,” the report stated.
The Town has also started work on the long-awaited downtown area redevelopment plan.
The staff report noted the Town and the BIA worked together to create the program and a letter from Downtown Canmore BIA Chair Tory Kendal on behalf of the board of directors stated they gave their support for the Town Centre grant program.
“We look forward to working with the Town of Canmore in using the monies afforded in the grant to create an inviting and activated environment for people once they get here.”
The Rocky Mountain Heritage Foundation – which is a co-owner of Quarry Lake – could see 50 per cent of the net revenue from Quarry Lake paid parking. The staff report noted Town staff and the foundation are continuing to work on an agreement, but in the 2023 budget it would’ve accounted for about $50,000.
Coun. Jeff Mah said a discussion during budget will have greater context for finance committee in making key decisions.
“We’re building this PPRAM as we are pushing it,” he said.
