New measure could quadruple St. Louis revenue from parking meter - KMOV.com

New measure could quadruple St. Louis revenue from parking meters

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(Credit: KMOV) (Credit: KMOV)
ST. LOUIS, Mo. (KMOV.com) -

A St. Louis City aldermen approved a bill increasing the revenue the city gets when residents use a parking meter. 

Ward 22 Alderman Jeffrey Boyd introduced a bill to change how much money from parking meter revenue is transferred to the city’s general revenue fund, calling for the transfer to take place before depreciation.

“I’m interested in trying to generate the maximum amount of revenue to the general revenue fund so don’t have to keep raising trash bills or raising taxes,” said Boyd.

The previous system moved 40 percent of the money into the city's general fund after depreciation, and Boyd called for that transfer to occur before depreciation. 

Under the previous law, the city received about $1 million from the parking meters. Under the measure approved by aldermen Friday, that number could possibly quadruple. 

"The right thing is to generate enough revenue for the City of St Louis where we can deliver quality service to our constituents," Boyd said. "They deserve that."

Copyright 2018 KMOV (Meredith Corporation). All rights reserved.

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