This article compares two old central business districts to measure the effects of a two-tiered policy that (1) prices on-street parking high enough to assure at least a few spaces are vacant at any given time and (2) earmarks revenues to be spent on services and improvements in the district where the parking charges were collected. The article describes the positive experience of Old Pasadena, which was revived as part of a larger plan, but included imposing charges for on-street parking high enough to keep the vacancy rate at roughly 83% and used the money collected to finance a bond measure that pays for local improvements, as well as direct payments for added police and sanitation services. By comparison, the Westwood section of Los Angeles has declined despite its nearness to affluent neighborhoods. Rates for meters were actually cut in half. Vacancy rates at curbside are an extremely high 94% at peak hours, and all of the money raised goes into the general fund. Streets and sidewalks are rundown and crowded.
Abstract