COLORADO SPRINGS — We have a reminder for Colorado Springs residents as we head into the new year: starting Jan. 1, you're going to be paying a little bit more to park in downtown Colorado Springs.
The City of Colorado Springs is increasing parking meter rates to help improve downtown's infrastructure and maintenance needs.
The funds made from this increase will go toward repairing parking structures, update meter technology and the gate system at three parking garages.
City officials said these improvements are estimated to cost $10 million.
Prices will increase by 25 cents an hour.
Meters closest to the City center will charge $1.25 per hour. Meters further out will charge $1 per hour and those on the edge of downtown will charge 75 cents per hour.
The City said it is planning to replace about 2,600 parking meters, which will include a feature that will allow users to pay from their phone.
The money will also go toward replacing stairwells and "unreliable elevators" as well as repairing concrete in parking structures.
One of the hopes of updating the gate systems in the three parking garages is that it will reduce the time it takes for vehicle to enter or exit the garage.
Parking Enterprise Director Scott Lee said the increase is something business owners requested in hopes of moving more customers through during the day.
"We're trying to push people to that direction to utilize our structures more than the meters and allow for the turnover that downtown businesses want," Lee said.
The last time parking rates were increased was 14 years ago. The price structure for city-owned garages downtown will also change in the new year.
For more information on parking rate pricing, click here.