Backgrounder: 2020 Rate Supported Budget for Toronto Parking Authority
The Toronto Parking Authority (TPA), better known to residents as Green P, is a self-sustaining agency of the City of Toronto. TPA is an integral component of Toronto’s transportation system, providing customers with safe, self-sustaining, conveniently located and competitively priced off-street and on-street public parking and bike share services.
The TPA is one of the largest municipal parking operators in North America. Revenues generated from Green P parking customers and rent generated from the leasing of retail and office space in TPA garage facilities exceed the operating costs and capital budget needs of the TPA. The result is a positive net contribution to the City of Toronto, with 50 cents of every Green P parking revenue dollar earned returned back to the City by way of dividend and property taxes.
Toronto Parking Authority overview
- Operates 19,000 on-street and more than 40,800 off-street parking spaces across 307 locations throughout the city, processing more than 35 million transactions.
- Manages the Bike Share Toronto program which includes 5,000 bikes and 465 bike stations, spanning nearly 100 square kilometers. The program has more than 165,000 members and 40 million kilometers travelled to date.
- Generates sufficient revenue to cover minimum operating and administrative costs and either recover past capital costs or allow for future capital investment.
The recommended 2020 Toronto Parking Authority budgets consist of:
- An operating budget of $101.8 million gross ($70.1 million in net revenue) for on-street parking, off-street parking and the Bike Share program;
- A capital budget of $66 million in in 2020; and,
- A 10-Year Capital Plan of $355.2 million.
Key priorities for 2020
- Satisfy demand for access to on-street curb space by:
- seeking new paid-parking opportunities;
- replacing meters with machines and initiating mobile only zones; and,
- implementing the second version of the Green P app, improving customer experience by expanding payment options and enabling further GPS functionality.
- Compete with off-street resource demands by:
- executing a 10-year Capital Plan by securing off-street parking and expanding Bike Share’s system to 6,000 bikes;
- upgrading the enforcement platform in conjunction with Toronto Police Services to provide automated ticketing; and,
- implementing the GreenP+ and Mural program Off-Street lot greening initiatives.
- Keep up with rapidly evolving mobility and technology trends by:
- expanding retail payment options in gated facilities and establishing a roadmap for anticipated 2022 payment changes; and,
- implementing new financial and operating systems to improve access to real time data and improved analytics.
- Continuously enhance capital investments and improve efficiency to support operating priorities, such as:
- providing additional marketing capabilities through the Bike Share app to support local business;
- installing new elevators to existing facilities to improve and provide accessibility; and,
- implementing state-of-good-repair maintenance and restoration programs.
Media contact: Toronto Parking Authority: Robin Oliphant, 416-393-7282, Robin.Oliphant@toronto.ca