Parking meter rates on some of Lexington's busiest street parking spaces will increase at the beginning of March, city officials stated in a press release on Monday.
Many spaces around the northern part of UK's campus— specifically on South Limestone and on parts of Avenue of Champions— will increase to $1.50 per hour.
On average, the price raises will cost the average user an additional 25 cents, the press release said.
Spaces along Jersey Street and South Upper Street near Raising Cane's and the new Hub Apartment complexes will not increase from their current rate of 50 cents per hour.
According to the press release, the city aims to raise rates— for the first time in 10 years— to increase parking turnover in busy spaces and provide funding for the expected $4 million required for continued maintenance over the next four years.
"Structural repairs, emergency lighting and elevators with obsolete parts are among the most critical needs for the additional funds," the press release stated.
“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 Parking Authority, in the press release. “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.”
The Lexington & Fayette County Parking Authority, the department which manages the meters and four of the city's parking garages, receives no taxpayer funds, the press release stated.