Sunday, August 3, 2014

Quote of the Week

"Pasadena returns all of its meter revenue to pay for added public services in the metered neighborhoods, and Old Pasadena is a good example of the benefits. Old Pasadena was until the 1980s a commercial skid row and now it is one of the most popular shopping destinations in Southern California. Parking meter revenue helps to explain that success. The meters, which were installed in Old Pasadena in 1993, bring in $1 million a year to spend on in added public services in just that little shopping district. The meter money paid to replace all the sidewalks, streetlights, street trees, and street furniture. It paid to clean up the alleys and put electric wires underground. The meter money also pays to pressure wash the sidewalks twice a month and to provide added police services. If LA adopted Pasadena’s parking meter policy, all of our business districts would be much more prosperous. Residents of LA would not have to go to Pasadena or Santa Monica or Culver City to walk around in clean and safe environments."
That's UCLA economist Donald Shoup talking about parking policy in LA. He's the author of the fantastic book The High Cost of Free Parking, which applies economic theory to questions about parking.

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