THUNDER BAY – City council is looking into selling off Thunder Bay’s two city-owned parkades. Mayor Bill Mauro requested a report on the possibility at a Thursday night budget meeting, saying he’s concerned about significant capital costs for the facilities.
The city anticipates over $1.6 million in capital expenditures over the next three years at its Victoriaville and Waterfront parkades. Mauro passed a motion directing the city’s Parking Authority to hold off on spending the $720,000 budgeted for 2020 until council has received the report on potential sale of the assets.
City administration says the facilities both operate at a loss, though expenses are covered by other parking fees collected by the city, such as revenue from parking metres. City staff pointed out that raises doubts over whether anyone would want to purchase the buildings.
Parking costs for residents are set to increase to keep up with those kinds of expenses. Council is considering a 25-cent increase to parking metre fees, which would bring the total hourly rate to $1.50. It’s also looking at bumping parkade rates from $1 to $1.25 per hour, along with much smaller increases to monthly rates.
City administration says a report can be expected back within a matter of weeks, presumably allowing council to make a decision before it ratifies the 2020 budget on Feb. 10.
