The city has lost $7.5 million in revenue from all the days that alternate-side parking has been suspended this winter.
The city has lost millions of dollars in revenue this year because winter weather has forced officials to suspend alternate-side parking for multiple days.
New York City typically reaps $241,000 in revenue each day from fines associated with alternate-side regulations. That means that much is lost every day those rules are suspended. New Yorkers may celebrate the suspensions, but they do hurt the city’s budget.
The city has suspended alternate-side parking for 31 days so far this winter, according to City Hall. That adds up to $7.5 million in lost revenue this winter alone.
According to the Department of Finance, the city counts on making about $65 million dollars per year from alternate-side parking fines. The city has already exhausted its $38.8 million snow budget, and Mayor Bloomberg is already trying to bridge budget gaps.
“We will continue to spend whatever is needed to clear streets, we will find the money elsewhere in the budget,” said Jason Post, a city spokesman. “When we make decisions about how to handle snow we don’t take revenue considerations into account.”
As alternate-side parking regulations went back into effect for the first time in 17 days on Monday, the city issued 9,910 parking tickets, about twice the daily average of 5,460 tickets. However, those tickets won’t come close to making up for the revenue lost during the days when ASP rules were suspended, and more winter weather will result in even more lost revenue.