LEXINGTON, Ky. (WKYT) - The rates at some of Lexington’s busiest parking meters are set to see their first increase in 10 years.
Starting March 1, some core downtown parking spaces and some near the University of Kentucky will see a rate increase from $1 per hour to $1.50 per hour.
City officials say the goals of the increase are to increase turnover on heavily parked streets and to provide the city with additional funds needed for maintenance.
“In the last three years, we’ve had two different consultants recommend rate increases as part of an operational study,” said Gary Means, Executive Director of the Lexington & Fayette County Parking Authority. “We’ve done our homework, and we believe that the rate increase will create more convenient parking by opening up spaces closer to a driver’s destination. It also will provide much-needed parking revenue to make ongoing safety improvements and technology upgrades.”
Structural repairs, emergency lighting and elevators with obsolete parts are among the most critical needs for the additional funds, according to the LFCPA.
A release sent out from the LFCPA today said that Louisville and Cincinnati are among the cities that charge $2 per hour at their parking meters.
The LFCPA, which maintains four garages and 1,270 parking meters, receives no taxpayer funding, according to the release.