A new article, published by the CD Howe Institute, explores how municipalities can use technology (such as apps) to free up more parking, reduce parking costs for most people, but still generate greater revenue. According to the article, parking apps can allow municipalities to:
…adjust parking prices based on the given demand and supply of parking spots, thus enabling smarter parking pricing. Smarter prices could lead to more available parking, a lower average price of parking, less congestion, and more revenue for the city.
Read the full article here.