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Politics & Government

City Sets Parking Rates

The City Council consolidates city-owned parking facilities via the Beverly Hills Parking Authority.

Acting as the Beverly Hills Parking Authority Board, the City Council on Tuesday set rates for city-owned parking facilities.

The parking fees mirror the rates in the city's Schedule of Taxes, Fees and Charges, though the facility at 461 N. Bedford Drive will offer two hours of free parking instead of one starting Nov. 1.

"The costs and revenues associated with the city's parking facilities cannot be easily separated from the city's general fund, which results in accounting difficulties and confusion in the community about revenue and expenditure sources," Director of Parking Operations Chad Lynn wrote in a staff report. "Consolidating ownership of the parking facilities under the City of Beverly Hills Parking Authority now allows for the parking facilities to be operated as a true enterprise that is separate from the city's general fund."

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Lynn's report also noted "the city's parking facilities are regularly used as collateral in the issuance of bonds, and the transfer of ownership now allows for easier realignment of collateral [the parking facilities] as property values increase and outstanding bond balances decrease over time."

All parking meters will remain at $2 per hour, according to Lynn's report. Permit fees are the same as last year, city spokeswoman Therese Kosterman said.

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The full spectrum of parking fees is available on the city's website.

"The reason we're doing this is because as an enterprise fund, we're trying to do a better job of running the whole parking operation as a business and to account for it that way," Councilman John Mirisch said.

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