New Pay-to-Park System Coming to Saratoga Springs
It was announced that the Belmont Stakes will be held at the Saratoga Race Course in June. This will definitely boost the economy. But there is another plan in place that will bring a steady stream of revenue to the Spa City starting in the spring.
Saratoga Springs is introducing a new parking program that would require visitors to pay for parking in city-owned lots and garages. The plan is to start the program on May 1st. This is a full month before the Belmont Stakes.
Why Start This Paid Parking Program?
The goals of the program are to help residents with parking availability, to make visitor parking access easier, to boost business with long-term parking plans, and to help with the confusion of downtown Saratoga parking. The main objective is to generate revenue to cover the costs of the parking structures and maintenance.
The pay stations should be installed by March or April and then testing will begin in April. The hope is to have them up and running before or on May 1st.
Will This Be A Year-Round Program?
The pay stations will be set up at city-owned lots and garages and operating from May 1st through September 30th. Free parking will be available for the rest of the year.
How Much Will It Cost to Park?
Parking will be two dollars per hour and if you need a long-term spot you can opt for a monthly pass for three hundred dollars. If you lose your ticket, you will be charged fifty-five dollars according to the Daily Gazette.
There is a permit option for residents, employees, students, and renters for free on-street parking.
Saratoga Springs anticipates that this new parking program will generate over $2.5 million in revenue. After all expenses, they expect to have over $1.4 million.
13 Celebs You Might Spot Anytime in Saratoga this Summer
Gallery Credit: Brian Cody TSM Albany