Will new parking meters downtown come with higher parking rates?

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by Alissa Reitmeier / News 4 and Dan Greenwald / KMOV.com

KMOV.com

Posted on August 7, 2014 at 2:51 PM

Updated Friday, Aug 8 at 5:32 AM

ST. LOUIS, Mo. (KMOV.com) – St. Louis Treasurer Tishaura Jones told News 4 the city will soon replace all of its traditional parking meters with meters that accept credit cards and smart phone payment.

So called “smart meters” are being tested throughout St. Louis, but Xerox and Park Mobile will soon overhaul 10,000 meters and possibly eliminate up to 3,000 metered spaces that are no longer being used. Jones said it will cost the city around $5 million.

“We will have to finance this privately,” Jones said. “We’ll have to take out a loan to finance it through the treasurer’s office.”

Despite the cost, Jones said the city expects to receive a 30 percent increase in revenue because drivers may be more willing to pay for a metered spot.

“I think we’re moving towards a coinless society,” Jones said. “More people are doing pay by phone. As technology advances, the city should as well.”

The new meters will accept credit and debit cards, the smart phone parking app, and coins. Meters in St. Louis currently cost $1.00 per hour, but Jones said the price may go up once the new meters are installed.

“It’s possible,” Jones said when asked about a price increase. “New technology costs money, so it is possible.”

City officials said installation of the new meters will begin in the fall.

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