Meter Rates Double in Downtown Columbia
COLUMBIA - The Columbia City Council voted Monday night to increase meter rates in downtown Columbia and on the MU campus. Starting Friday July 1, meters in downtown Columbia will go from 30 cents per hour to 60 cents per hour.
This means that while one quarter currently gets you 50 minutes, starting July first that same quarter will get you just 25 minutes. Campus meters will also increase from 60 cents per hour to 75 cents per hour.
Mayor Bob McDavid said the city estimates it will get about $650,000 per year from the increase. That money will go toward paying for a $1.25 million bond for the land to build a new parking lot. The parking lot will go up behind what is now the Regency Hotel, after the Regency becomes a Doubletree.
The actual parking lot is estimated to cost another $7 million, bringing the total to $8.25 million for a new parking lot.