$1M upgrade for Toronto’s parking meters
Posted April 26, 2012 12:36 pm.
This article is more than 5 years old.
The city will be spending $1 million to upgrade the Toronto Parking Authority (TPA) meter machines because they don’t work with the Royal Canadian Mint’s new loonies and toonies.
There are nearly 3,000 machines that need to be repaired, TPA board president Gwyn Thomas told CityNews.ca, and each machine costs $355.40 to fix.
The TPA approved the measure at a board meeting on Wednesday.
The 2012 coins are made with a new steel technology that is cheaper to produce, but they’re lighter than the old coins. The machines can’t recognize the new models.
The cost of upgrades will come out of the city’s operating budget.
