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: City may sell However the permit rates at the other 10 surâ€" face lots will decrease between fourâ€"to 17 per cent. from $47 â€" $54 a month to $45 a month Pavâ€"asâ€"youâ€"go rates at the citys Caroline and Waterloo Town Square parking lots will increase 100 per cent in 1996 from $0.50 per hour to $1 per hour. Rates at the city‘s Seagram Museum, Dupont and library parking lots will increase 33 per cent in 1996 from $0.75 per hour to $1 per Waterloo council has approved new parking rates for 1996 that hopefully will increase both use of city parking lots and revenue Council has actually decreased the city‘s 1996 monthly parking permit rates at 10 of its 11 surâ€" face parking lots. The monthly permit rates at the Waterloo Arena parking lot and the Uptown Parkade will remain the same as they currently are at $40 and $58.33 (daytime) respectively. hour. There will be no increase in payâ€"asâ€"youâ€"go rates at the Uptown Parkade. The rates are $1 for the first hour and $0.50 for each additional hour to a maximum of $3 However there is some good news for Waterâ€" loo taxpayers in 1996, at least for Waterloo ‘: pavers who drive cars and use municipal parking spaces down{own The city has no plans to start issuing more parking tickets to make up for the dramatic drop n parking permit revenue Ticket revenue is a negative revenue," Fichinger said. "You‘re issuing uckets. So its not something that vou can aggressively go after to increase. You don‘t want to do that." The problem is that if bylaw enforcement offiâ€" vers become more aggressive in issuing tickets, more and more people will refuse to park in the The parkades monthly nighttime rate ($20) aill also remain the same City to lower some parking rates in 1996 Pm-Cflm'ls&m@s Sfinfl@ ¢@he Company ~1, _ Outlet Stare from up to $C Reg. Retail Price 1( (Continued trom page 1) ) C A store for all sizes Sizes 6 â€" 24 * advertising in the parkade (on ticket stubs cash receipts, etc.) Another major problem the parking division currently has is its annual debt load. The diviâ€" sion‘s annual capital debt repayment for conâ€" struction of the Uptown Parkade and work on a few other lots is presently $600,000, a figure that won‘t change much in the next seven to eight vears The city did introduce some measures in 1995 to try and increase parking revenue and decrease costs, and plans to introduce more in 1996 Some of those initiatives include * free parking promotions in the Uptown Parkade * overnight permits in the parkade for people living uptown + encouraging more use of the parkade through a merchant validation program for busiâ€" nesses sending clients to the parkade The parking division was originally counting on $200,000 in revenue this year from the sale of the cityâ€"owned Waterloo Town Square parking lot to Canada Life Assurance Company and Cambridge Shopping Centres. Under the proâ€" posed deal, the two companies were to pay the ¢ity $200,000 a year over 10 years in order to buy the parking lot However that deal, which was originally to begin in 1995, is currently in limbo. So $200,000 of the parking division‘s 1995 $545,000 deficit can be dismissed on paper citys core area, hurting merchants and the city alike is Currently, Waterloo already receives approxiâ€" mately 50 per cent of its parking revenue from parking tickets (a projected $330,000 in 1996) compared with the municipal average of approx imately 15 to 16 per cent Also Eichinger said the parking division‘s $545.000 deficit figure for 1995 is, to a certain extent, misleading & )Q) off (corner of King & Queen) §6 George‘s Square, Gueiph 821.7982 (next to the Royal Bunk) TAgimbacte hact 8 King St. East, Kitchener 745â€"5058 | PRE2A% 52" now Workmaster &D FABERGE c __ e o /) an . monco ie Pm T “Mw‘:m :?:.ecnon '/%', y %3 BOXING DAY PRICE B GUARANTEED! "..:=..... 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