Parking rates on some downtown Phoenix streets could soon cost as much as $4 per hour during peak times.
The Phoenix City Council will vote on the proposal at its meeting Wednesday afternoon.
The Arizona Republic reports that Phoenix collected about $1.65 million in coins and debit-card transactions for parking meters during fiscal 2013.
City staff believes the city can increase revenue by as much as $2 million annually with the rate changes.
Rates would range from 50 cents to $4 per hour based on demand in the streets closest to U.S. Airways Arena and Chase Field.
Prices would be highest during games, concerts and other major attractions and events.
The proposal is part of Phoenix’s response to a projected $38 million budget shortfall.