In The Know with Gino: CARTA Approves Downtown Parking Rate Increase for Revenue Boost
Photo by Hafidh Satyanto on Unsplash
Chattanooga, TN – In a unanimous decision, the Chattanooga Area Regional Transportation Authority (CARTA) board of directors has voted to implement a rate hike for downtown street parking. Beginning on Sunday, October 1st, 2023, the current hourly rate of $1 will be increased to $1.50, a change aimed at bolstering city revenue while managing parking resources more efficiently.
The decision comes after extensive deliberation and consultation, including local businesses, residents, and city officials. CARTA emphasized that the rate increase is part of a broader strategy to maintain and improve the downtown area’s accessibility and overall urban planning.
The increase in parking rates is expected to have a significant impact on the city’s revenue streams. CARTA projects an additional $1 million in revenue over the next year, which will be reinvested into improving public transportation and parking infrastructure.
City officials and CARTA leaders have emphasized that the additional funds will be used to enhance the overall downtown experience, including improved street maintenance, expanded public transportation services, and the creation of more pedestrian-friendly spaces.
Despite the rate increase, CARTA remains committed to providing affordable parking options in the downtown area. The CARTA board and city officials hope that this rate adjustment will help create a more vibrant, accessible, and sustainable downtown environment for years to come, all while generating much-needed revenue for essential public services and transportation projects.
