Monday evening Town Council approved a plan to implement a pay-parking program that could see pay parking in the downtown core come into affect as of May 2017.
The proposed pay-parking program would see parking metres implemented in Centennial Park lots, Lakeshore Drive from 40 St.-50 St., Centennial Street, 49 St. Couplet and 50A St.
Residents of Sylvan Lake’s cabin district would not be required to pay for parking within their zone with proof of residency. Two parking passes would be issued per residence. With an additional pass being made available for $50.
The annual expense of the program is estimated to be around $93,600 year with an initial one time $522,000 capital cost. Program revenues are estimated at $232,620.
Centennial Park would account for $110,000 of the net revenue estimates. Town administration stated it would be easy to say we should just install parking there but that it would ignore the fact that vehicles would spill over onto the streets for free, which will impact business parking.
In his report to Council, Director of Community Services, Rob Lebsack stated it is imperative that if they install parking in the lots, they must also do so on the streets. These numbers show that within four years the Town will be generating revenue from the program.
Revenue generated from the pay-parking program will go towards continued maintenance and upkeep of the downtown district.
A public open house will be held in regards to the pay-parking program on March 30 from 4-7 p.m. in Council Chambers where the public will have the opportunity to provide input before the plan moves ahead.