Gravy found? Why Toronto’s daycare for cars (i.e. the Toronto Parking Authority) should get the axe
In between some of the more outlandish proposals by KPMG that will never be seriously considered (selling the Toronto Zoo, privatizing the public library system), there’s another proposal that actually should be considered: selling off the Toronto Parking Authority, either in its entirety or in part. We wrote about this a little in February, but it’s worth taking a look at—and not for the reasons you might think.
Admittedly, selling off the TPA lots might actually hurt Toronto’s financial situation—after the initial quick hit of cash from hawking the off-street garages, the city would actually have less money coming in without its favourite cash cow (although it’s possible paying down a good chunk of Toronto’s debt could change that math in complicated ways). It’s a scenario similar to the one that comes up whenever someone proposes selling the LCBO: Ontario would actually lose money in the end.
But like selling the LCBO, there are some big reasons to do it anyway. In this case, selling the TPA would be the single best thing that the city could do to discourage driving in the downtown core, probably more effective even than a road toll (which the province would never allow in any case). Without the TPA providing below-market rates on parking spaces (and before the protests come in at how expensive Green P spaces already are, check out what parking spaces are selling for downtown), the cost of driving downtown would go way up. Meaning that a lot of people would find other ways to get there.
There are other things the city could do short of selling the Green P lots, like simply raising rates on parking. But a) this would be wildly unpopular, b) the TPA’s on-street parking is required by law not to exceed $3.50 an hour, so councillors would have to change the law themselves and c) so far, council hasn’t exactly demonstrated a willingness to make the unpopular choices. So if privatization lets the city get away with a pro-transit, pro-bike, pro-downtown policy, we’re tempted to let them try it. At the very least, if the city is considering getting out of providing cheap daycare for people, it should also consider getting out of providing cheap daycare for cars. Of course, this would without a doubt open up a new front in the War on the Car—so it will probably never happen.
• Toronto to consider more than $700 million in cuts to police, TTC and zoo [Globe and Mail]
(Images: Gravy boat, Grannies Kitchen; parking sign, Matt MacGillivray)
 should get the axe&picture=https://torontolife.com/wp-content/uploads/2011/07/parking-gravy.jpg&description=In between some of the more outlandish proposals by KPMG that will never be seriously considered (selling the Toronto Zoo, privatizing the public library system), there’s another proposal that actually should be considered: selling off the Toronto Parking Authority, either in its entirety or in part. We wrote about this a little in February, but it’s worth taking a look at—and not for the reasons you might think.
Admittedly, selling off the TPA lots might actually hurt Toronto’s financial situation—after the initial quick hit of cash from hawking the off-street garages, the city would actually have less money coming in without its favourite cash cow (although it’s possible paying down a good chunk of Toronto’s debt could change that math in complicated ways). It’s a scenario similar to the one that comes up whenever someone proposes selling the LCBO: Ontario would actually lose money in the end.
But like selling the LCBO, there are some big reasons to do it anyway. In this case, selling the TPA would be the single best thing that the city could do to discourage driving in the downtown core, probably more effective even than a road toll (which the province would never allow in any case). Without the TPA providing below-market rates on parking spaces (and before the protests come in at how expensive Green P spaces already are, check out what parking spaces are selling for downtown), the cost of driving downtown would go way up. Meaning that a lot of people would find other ways to get there.
There are other things the city could do short of selling the Green P lots, like simply raising rates on parking. But a) this would be wildly unpopular, b) the TPA’s on-street parking is required by law not to exceed $3.50 an hour, so councillors would have to change the law themselves and c) so far, council hasn’t exactly demonstrated a willingness to make the unpopular choices. So if privatization lets the city get away with a pro-transit, pro-bike, pro-downtown policy, we’re tempted to let them try it. At the very least, if the city is considering getting out of providing cheap daycare for people, it should also consider getting out of providing cheap daycare for cars. Of course, this would without a doubt open up a new front in the War on the Car—so it will probably never happen.
• Toronto to consider more than $700 million in cuts to police, TTC and zoo [Globe and Mail]
(Images: Gravy boat, Grannies Kitchen; parking sign, Matt MacGillivray)){kind=link}
Before anyone goes too far in privatizing the TPA, they need to take a long, hard look at what happened to Chicago when they sold off their parking meters. Residents can’t close streets without compensating the parking company for lost revenue – ie: Taste of the Danforth would have to pay more than just a couple of permit fees to close Danforth Ave. Almost every street festival in the city would get more expensive to run over night.
I agree with Tdotlounger – Chicago is a prime example of what happens when privatization of a public good goes wrong.
If Ford luddites do go with this plan – garages/lots are one thing, there are already plenty of private lots that compete with Green P, but the should NOT touch the street parking (ala chicago) that would be disatrous, and financially ruining for the city.
However, it would be interesting to see what percentage the profits from TPA covers the interest on TO’s debt and how much debt would be eliminated if TPA (sans street parking) would bring in (if we got a fair value – not a raping like the Chicagoins..)