SF approves parking meter rate hike to help SFMTA's projected $320 million budget deficit

SAN FRANCISCO (KGO) -- An increase to parking meter rates throughout the city is looming over San Francisco

"I definitely think it's outrageous. The parking situation isn't getting any better," said Garrett De La Concepcion, a San Francisco resident.

Garrett De La Concepcion lives in San Francisco's Mission Bay neighborhood just a few blocks from Chase Center. The affordable housing building where he lives doesn't have a garage, so he relies on finding street parking every day.

"Right now, I'm probably paying between $19 to $20 bucks a day. It just depends on if there is a game, a Warriors game or a concert then I'm paying close to $60," said De La Concepcion.

Hearing about the city increasing meter rates to $0.25 an hour citywide is tough to process.

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"It adds up every single day," said De La Concepcion.

The San Francisco Municipal Transportation Agency is facing a projected $320 million budget deficit by July of 2026.

Businesses worry about the impact of the price hike so many view the $0.25 an hour increase as just the start.

"We lose a lot of customers because they can't park. They have nowhere to park and it's too expensive. It's taking too much out of our pockets," said Kenneth Escalante, Supervisor at Cenote Restaurant.

Not to mention his employees.

"It's already very expensive down here just to find any parking at all. So, if it's already taking a big chunk of their pocket why? It's daily too. You have to spend $10 to $ 20 daily and it's just going to add up eventually. So that is not very good for us," said Escalante.

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At Tuesday's meeting, the SFMTA board voted to amend a Transportation Code to increase the minimum parking meter rate.

"To increase the minimum parking meter hourly rate from $0.50 to $1 and to charge a $0.10 convenience fee when paying for parking using a mobile device."

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Sofia Guglani, owner of Avotast, is concerned that all these changes will impact everyone differently, from residents, customers to business owners.

"I think it's also going to impact the suppliers that come to drop ingredients for us already because they already charge us a gas fee. I think that fee might increase because they have to pay more to park and deliver for us," said Guglani.

SFMTA's confirmed these changes will go into effect in late May.