Freeze in Waterloo parking rates a bid to boost business
Council agreed to freeze hourly and permit parking rates during Monday meeting
The price to park in the City of Waterloo won't be going up next year in a bid to help businesses that have been impacted by ongoing construction.
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In particular, uptown Waterloo businesses have said they have seen fewer customers and patrons because of the ongoing construction on King Street, which has included both LRT tracks as well as replacing underground infrastructure.
Some businesses have even called for a moratorium on construction in 2018 — something the region has said it is considering.
The freeze, which was approved by council Monday night, will be for both hourly and permit parking rates.
However, a staff report recommends hourly rate increases of 25 cents every three years between 2019 and 2027.