TDM - Pricing Strategies
Pricing is considered a primary tool in TDM planning. When compared to other institutions, the cost of University of Guelph’s annual parking permit has been and continues to be consistently lower than other comparable Ontario universities.
(See Table 3) Parking and Transportation Services is recommending that the annual permit rate be increased over a five (5) year period to 85% of the Guelph Transit reduced-rate employee transit pass.
(See Table 1) Residence student permit rates would increase yearly while retaining the fee structure at 75% of the annual permit.
There are no changes proposed to the Visitor, Barrier-free, Service, Commercial Service parking rates or Parking Violation rates at this time.
Our past policy of annually increasing permit pricing uniformly as a percentage across all permit levels has resulted in premium permits costing triple that of annual permits. A double cost differential from annual to premium would be a more acceptable level to maintain. Our premium permit prices, in contrast to our annual permits are at the top level of comparable institutions (See Table 2). Parking and Transportation Services recommends a 3% increase annually until the targeted differential is met.
The main portion of the additional revenue generated from the increased parking rates will be required to fund operating and capital project commitments for Parking and Transportation Services.
A smaller portion will be allocated to enhance campus safety and security through initiatives such as improved lighting, installation and upgrade of blue emergency phones, enhanced security and emergency measures, including electronic perimeter access control for University buildings and increased patrol of parking lots.