Backgrounder
November 6, 2020
Toronto Parking Authority (TPA), better known to residents as Green P, is one of the largest municipal parking operators in North America. 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.
TPA is a self-sustaining agency of the City of Toronto. Revenues generated from Green P parking customers and rent from the lease of retail and office space in TPA garage facilities typically exceed the operating costs and capital budget of TPA. This enables TPA to return net revenue to the City by way of dividend and property taxes.
The ongoing COVID-19 pandemic has resulted in reduced demand for TPA services and reduced available parking spaces as a result of City initiatives, including CafeTO, CurbTO and ActiveTO. While TPA continues to monitor and adapt operations to ensure it can meet its self-funding mandate, TPA’s annual income share to the City of Toronto for the 2020 financial year is forecasted to be $4.1 million, a decrease of $55.4 million or 93 per cent below budget. The impact of COVID-19 is anticipated to continue into 2021 with no net revenue or resulting income share expected, with recovery anticipated in 2022.
Toronto Parking Authority overview
- Operates 19,000 on-street and more than 40,700 off-street parking spaces across 307 locations throughout the city, processing more than 34 million transactions.
- Manages the Bike Share Toronto program which includes 6,850 bikes and 625 bike stations, spanning 200 square kilometers. The program has more than 186,000 members and more than 48 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.
Budget overview
- The recommended 2021 Toronto Parking Authority budgets consist of:
- A gross operating expenditure budget of $ 95.7 million and $93.5 million in gross revenue for on-street parking, off-street parking and the Bike Share program;
- A capital budget of $24.3 million in 2021; and,
- A 10-year capital plan of $234.4 million.
Key priorities for 2021
- Satisfy and enhance demand for access to on-street curb space by:
- seeking new paid-parking opportunities; and,
- launching the second version of the Green P app, improving customer experience by expanding payment options and enabling further GPS functionality.
- Offer improved off-street parking management solutions through:
- an online and mobile monthly permit system allowing consumers to self-serve, transact and manage monthly permits; and,
- tap payment and Pay-by-Debit at TPA Pay & Display terminals to further enhance contactless payment capabilities.
- Keep up with rapidly evolving mobility and technology trends by:
- integrating the Green P app with existing gated facilities,
- exploring intermodal integration of TPA’s mobile application with Bike Share and other applications to provide seamless mixed mode passenger transit across the GTA,
- assessing omni-channel customer service technologies to better engage with and support TPA customers in whatever engagement medium they choose; and
- leveraging the newly implemented financial and operating systems providing access to real-time data and improved analytics.
- Continuously enhance capital investments and improve efficiency to support operating priorities, such as:
- replacing end-of-life customer facing systems, including an online and mobile monthly permit system, to establish a platform for growth and sustainability; and,
- implementing an asset lifecycle management program, including state-of-good-repair maintenance and restoration programs.
Toronto is home to more than 2.9 million people whose diversity and experiences make this great city Canada’s leading economic engine and one of the world’s most diverse and livable cities. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture and innovation, and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information visit the City’s website or follow us on Twitter, Instagram or Facebook.
