L.I. Town Promotes Innovative Parking Strategy
Legislation was approved by the Town of North Hempstead board this week requiring that companies seeking to expand parking facilities first investigate parking "cash-out," or cash-in-lieu-of-parking, strategies. The local law defines cashing out parking as "a plan in which employees would be offered additional compensation in exchange for their agreement to use alternative transportation." The law requires affected employers to prove that a cash-out program is not feasible or does not solve the parking problem that any proposed parking structures are meant to address. Cash-in-lieu-of-parking programs offer workers the option of giving up a subsidized parking space in exchange for its monetary value. Pressure to cut air pollution in California has made employers in that state leaders in parking cash-out programs. Companies using the strategy have seen significant reductions in drive-alone commuting
