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The answer is fairly simple: privatize all parking in D.C., offering individual spots in residential areas to homeowners and selling off the parking in commercial districts to private companies.

By looking at the success of Indianapolis' parking privatization program, we can see a path forward for D.C. that accurately prices parking, reduces artificial shortages in spots, and provides additional revenue to the city. The city should seek a one-time cash infusion for selling off parking rights, which could be put back into infrastructure financing for bike lanes, the streetcar, etc.

The idea that charging market rates for parking is regressive is absolutely silly. First, rich people live in rich areas where parking is more highly valued. Second, lower income households value time just like higher income families do. If it takes a blue collar worker 40 minutes to park and walk back to their home, that's 40 minutes of lost income, family time, sleep, etc.

Get government out of parking, and let the market decide how much people are really willing to pay to pollute the environment, clog the roads, and take up space on the street. D.C. has more important issues to focus on.

by Preston on Dec 10, 2012 12:59 pm • linkreport

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