BANFF – Visitors to Banff may end up paying a bit more for parking this year.
Council hopes a potential small bump in rates from $5 an hour in summer and $4 an hour in winter will encourage more people to park at the free train station intercept lot at the west edge of town and help with hefty costs associated with dealing with the community’s congestion woes due to increasing visitation.
A report, to be drafted by administration in time for council’s Feb. 26 meeting, will also examine increasing the scope of the program, such as expanding areas where pay parking could be implemented including on Bow Avenue and the Bear Street multi-level parkade.
“A few meetings ago, we saw numbers from administration showing that the use of our visitor pay parking areas had actually increased and the use did not seem sensitive to the price,” said Coun. Chip Olver.
In July 2021, the Town of Banff introduced pay parking to tackle the increasing parking and congestion problems in the tourist town, associated with about four million annual visitors mostly arriving in private vehicles.
Visitors need to pay to park seven days a week between 8 a.m. and 8 p.m. – $5 an hour from May 1 until Oct. 31 and $4 an hour throughout winter. Parking in Banff’s residential areas is prohibited as part of a residential parking permit system.
There is currently nine-hour free parking at the train station and free parking at the downtown Bear Street parkade and Bow Avenue.
The visitor pay parking capital reserve has a year-ending balance of $2.43 million in 2024, but dips into a deficit of $259,000 in 2025 due to council shifting the purchase of three hybrid-electric buses to 2025. By 2026, the reserve is back in the positive at just over $1 million.
The operating reserve for pay parking has an estimated year-ending balance of $2.3 million in 2024, $1.3 million in 2025, and $127,000 in 2026. The reserves are funded 65 per cent of the net visitor pay parking revenue to the operating reserve and 35 per cent to the capital reserve.
This year’s expenses include increased frequency on Banff local Roam routes, including an earlier start to the industrial compound, increased winter transit, additional service for route 3 Banff-Canmore regional route, and expansion of low-income transit pass program.
In addition, the Town will hire a consultant to look at options for an east intercept lot within the town boundary, an e-bike rebate program, operation dollars to support the Bike All Winter program, additional intersection flaggers for the busy summer, and traffic counters for Beaver, Otter, Muskrat and Buffalo streets, among others.
Mayor Corrie DiManno said she preferred a holistic conversation about whether or not to increase rates and expand areas for pay parking.
“I want to look at the big picture … I don’t want to increase it now and increase it next year and increase it the next year etc.,” she said.
“I want to take a look at what our spending needs are and how quickly we are spending from that fund and be able to align it to the adequate rate we would need to ensure that we stay in this positive balance.”
