Toronto Parking Authority Budget
Toronto Parking Authority (TPA) provides safe, self-sustaining, conveniently located and competitively priced on-street and off-street public parking and bike share services as integral components of Toronto’s transportation and mobility systems. The TPA is the largest supplier of municipal parking in North America and delivers the following
- On-Street Parking
- Off-Street Parking
- Bike Share Program
TPA manages approximately 19,000 on-street parking spaces and 21,000 off-street parking spaces, and provides access to 3,750 bicycles across the City of Toronto.
Download the detailed Budget Analyst Notes for Toronto Parking Authority. You can also review budget highlights below.
The Toronto Parking Authority contributes significant revenues to the City while successfully meeting its mandate to provide on- and off-street public parking. Parking services support commercial strips and residential areas so that local businesses can continue to grow and neighbourhoods remain vibrant.
TPA is recognized as a world leader in parking technology services and continues to provide innovation and customer service to create an exceptional experience for residents and visitors.
View the Toronto Parking Authority Program Map to better understand the services and activities it delivers.
The total cost to deliver these services to Toronto residents is $100.6 million gross and $($66.5) million net.
- Budget increase of 0% over the 2018 Approved Net Operating Budget to maintain existing service levels and meet service demands
- Budget pressures of $7.334M driven by municipal property tax increases of $4.361M as a result of reassessments by the Municipal Property Assessment Corporation (MPAC)
- Line-by-line review savings of $1.008M to be realized; $0.507M in reduced ticket paper usage due to the adoption of mobile pay technology and $0.501M to reflect lower ongoing maintenance and repair costs
- Additional revenues of $6.326M as a result of changes to on-street and off-street parking rates and increased ridership in the Bike Share Program
- No changes to 2018 approved complement of 328.5 positions
- Anticipated net revenue increases of $0.318M in 2020 and an incremental $0.662M in 2021 due to sustained revenue growth across all services
- Satisfy short-term parking demands and increasing parking supply given escalating land and development costs.
- Various City initiatives and transportation needs including shelters, construction work, special events, and the installation of bike lanes often result in the loss of available on-street and off-street parking spaces, leading to reduced parking revenue.
- Keeping pace with new technologies to improve the customer parking experience; sustain the innovative and efficient expansion of parking services; and to lower operating costs.
- TPA continues to actively pursue joint development opportunities with the private sector and other City divisions in alignment with the City’s Real Estate Strategy in order to increase parking supply.
- TPA collaborates with other City divisions to minimize the negative impacts on parking revenues. The Staff Recommended 10-Year Capital Plan includes $53.8 million for the replacement of parking due to City initiatives and bike lanes.
- The Staff Recommended 2019 Capital Budget includes new funding of $1.0 million for the development of the pay-by-plate project and $2.0 million to upgrade parking equipment software and introduce contactless credit card processing at an additional 16 carparks.
Capital Budget and Plan
The 10-year Capital Plan is $346 million to maintain the supply of both on-street and off-street parking. The delivery of these capital projects will help achieve service objectives and maintain Toronto Parking Authority’s annual revenue contributions to the City of Toronto.
Highlights – 1 Year
- $7.722M for State of Good Repair projects including Green P Plus, TPA’s environmentally-focused approach to refurbishment of surface parking lots including the installation of low-energy lighting and permeable paving.
- $7.500M for Bike Share Expansion, primarily funded by the Ontario Municipal Commuter Cycling (OMCC) Program to expand the system by an additional 2,250 bikes across the City.
- $3.250M for modernization initiatives including Upgrading Revenue Control Equipment at 16 carparks to allow for contactless credit card processing, developing the Pay-By-Plate project, and continuing the Parking Guidance System project.
Highlights – 10 Years
- $60.572M for State of Good Repair projects to maintain parking faciliites and associated infrastructure in a state of good repair.
- $285.390M for Service Improvement projects including the expansion and redevelopment of parking facilities and capital expansion of Bike Share Toronto.
- $278.722M of the Staff Recommended 10 Year Capital Plan is funded by TPA’s current and future retained earnings.
Find more information on specific City issues, opportunities and challenges in the briefing notes and reports prepared by City staff. Documents will be posted as they become available.
- Report and Appendices 1 to 3 from the Acting President, Toronto Parking Authority on Bike Share Program Financial Considerations
Presentations made to committee and City Council provide an overview of the 2019 City budget. Documents will be posted as they become available.