The move also means proposals to charge for on-street parking in Union Street in Ryde and in Crocker Street and Upper St James’ Street in Newport, as well plans to implement all-year round charges on Esplanades are now on hold.
Instead, money will be raised by an increase of up to 10% in parking permits, a new overnight charge of £1 from 18:00 to 08:00 and an increase in the charge for tourist permits.
Council leader Dave Stewart said the council had revised it proposals in the light of feedback from businesses, town and parish councils and local people, especially in Ryde and Newport:
“The whole idea of publishing our budget proposals in November was for everyone to look at them, comment and make a case to the council on why they should or should not happen or what we could do differently.
“Many people did this on the issue of parking and we have listened and made changes to our plan for the next financial year while also increasing or introducing some charges to help pay for services everyone needs.
“However, during this process it became clear we do need a review of how parking is charged across the Island as there is a ‘patchwork approach’ to fees. There is a need for more consistency and more fairness because some towns, like Newport, have far more charging areas than other locations.”
Cabinet member for transport, Councillor Ian Ward, said:
“We have listened to our community and undertaken our own research and it’s clear our parking strategy and charges are due a proper overhaul.
“The charges need to meet our future needs, including the impact of our new Island Plan, recognise the importance of supporting our high street economy and take account of our developing regeneration priorities.”
The review during 2019/20 will consider charging arrangements to help improve economic development, traffic management, income and fairness.
Work will also be undertaken to improve the clarity of charging, tariffs and permits.
The new revised proposals will generate around £45,000 less than the original plans. The shortfall will be met through income generated by the council’s commercial property portfolio.
It’s estimated the new on and off-street overnight parking charge will generate around £147,500, while increased parking permit charges could add £44,800, plus an additional £13,300 from the tourist permits rise.