NYC parking meter rates going up 25 cents

December 20, 2010 3:21:27 PM PST
You may want to start saving some extra change if you park in New York City.

Rates at parking meters will go up by a quarter an hour starting January 3rd.

Some members of the city council are trying to stop the increase, saying it will hurt businesses.

Jose Cruz is frustrated that a simple shopping trip is going to cost even more.

This time it's parking meters dipping into his wallet.

Unfortunately the mayor doesn't need a referendum to charge more for curbside parking.

Start packing more quarters because rates in the outer boroughs are about to go up another 25 cents to a dollar an hour.

That might not sound like the end of the world, but it's still a 100% hike in the last 2 years.

The increase should generate an additional $3 million a year, which is desperately needed to help balance the budget.

But, that's also $3 million less for the city's hard working middle class.

Merchants are also alarmed.

In Downtown Brooklyn, they fear it will push more shoppers to the suburbs were parking is free.

The new rates expected to take effect right after the holidays and in some places even sooner.

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