WINNIPEG -- The City of Winnipeg will have to deal with a predicted $4.1 million shortfall in parking revenue after Winnipeggers stayed home during the COVID-19 pandemic.
In April and May of 2019, the city raised $1.44 million in on-street parking revenue. In April and May of 2020, the city raised $230,000 in on-street parking revenue, resulting in a $1.2 million (or approximately 84 per cent) shortfall year-over-year.
According to the city, the average 2020 budgeted monthly revenue from on-street parking is $665,000. Therefore, the average budgeted income for both April and May would be $1.33 million.
A city spokesperson said COVID-19 will impact the Winnipeg Parking Authority’s bottom line, and dividend implications will be considered as part of the 2021 Budget update.
CHEAPER PARKING
The predicted shortfall comes shortly after a report recommending the City of Winnipeg decrease hourly rates by 75 cents for on-street parking.
The Winnipeg public service report suggests these new rates be implemented within two months of approval.
READ MORE: Winnipeggers could soon see decreased rates for street parking
The report will be discussed at the standing policy committee on infrastructure renewal and public works meeting on June 9.
