What is the Toronto Parking Authority (Green P)
The Toronto Parking Authority exists to provide safe, attractive, self-sustaining, conveniently located and competitively priced off-street and on-street public parking as an integral component of Toronto's transportation system.
The Toronto Parking Authority is a self-sustaining public corporation owned by the City of Toronto. It contributes significant revenues to the City's general reserves while successfully meeting its mandate to provide safe, attractive, conveniently located and competitively priced off and on-street public parking, which is required by commercial strips and neighbouring residential areas to survive. Recognized as a world leader in parking technology services the Parking Authority has been successful in ensuring that businesses in these areas continue to grow and the neighbourhoods remain vibrant.
On June 24, 1952 the Council of the City of Toronto passed By-law 18680 establishing the Parking Authority of Toronto.
The Toronto Parking Authority, upon amalgamation in 1998, came into being and was the result of merging the former Parking Authority of Toronto and the former Parking Authority of North York into one new entity "The Toronto Parking Authority" under the City of Toronto Act. Parking properties from the other five predecessor municipalities were also transferred to the TPA at this time.
The Council of the City of Toronto appoints a seven-member board of Directors whose job it is to set the policies of the Parking Authority and oversees its operation. The City's senior transportation member is a non-voting member of the Board. The Toronto Parking Authority celebrated its 50th year in 2002. It began with five parking lots containing about 700 spaces and today provides 20,000 off-street spaces in 150 facilities including 19 parking garages, as well as 17,500 on-street spaces controlled by pay-and-display machines or meters. In addition, the Authority manages, on behalf of the Toronto Transit Commission, 12,500 spaces at their park and ride facilities and parking areas on behalf of the City's Parks and Recreation Department serving the waterfront parks during the summer season. The Toronto Parking Authority is the largest municipal parking operator in North America.
The intention of City Council when the agency was created in 1952 was that it be self financing from parking revenue and not rely on a municipal tax base to fund its development or operation. The Authority has more than met this objective having had 50 straight profitable years as well as creating a substantial and valuable property portfolio for the City. Commencing in 2001, 75% of the Parking Authority's net profit is returned to the City as a dividend into the city's general reserves. In 2001 this amounted to in excess of $26.0M and reduced the tax bills of the residents of the City of Toronto by 2 1/2 to 3%.
As the Mayor Nathan Phillips summarized the situation nearly 50 years ago at the opening of the Authority's City Hall Garage, "...business goes today where there is convenient, thrifty parking and stays clear of locations that can't or won't provide it". 50 years of prosperity for various commercial areas in the City and the continued success of the Toronto Parking Authority are a testament to the enduring truth of the long-departed Mayor's assessment.
Board Of Directors
Michael Tziretas Chair
Paul ScargallBoard Vice Chair
Lorne Persiko President