IN a move to solve parking difficulties, Futian is offering subsidies of up to 10 million yuan (US$1.42 million) to encourage private investment in the construction of multi-level, mechanical parking facilities.

According to an implementation plan released by the district, the subsidies will make up 40 percent of the investment. For example, 30,000 yuan for a mechanism parking slot or 50,000 yuan per parking slot for a multiple-level parking structure.

The subsidy for a single parking lot project is limited to within 10 million yuan. The investors must ensure the operational lifespan of their parking facilities or structures are longer than three years and that they are connected with the city’s smart parking platform before they are considered eligible for the subsidies.

As for a multi-level parking structure, the subsidies are 50,000 yuan for each underground parking slot and 20,000 yuan for each above ground parking slot.

For a mechanical parking lot, those that are equipped with an Automated Guided Vehicle system will get a 30,000-yuan subsidy for each parking slot, while mechanically automated and vertical parking lots will get a 20,000-yuan subsidy for each slot.

The government can withdraw the subsidies if the facilities are unused for more than three years. So far, private investors in Futian have built 16 parking facilities and structures, adding more than 2,000 parking slots.

In Futian District, there are an average of 5,700 parking slots within a square kilometer, or 325,600 total parking slots. However, 40 percent of parking lots in the district are fully loaded, so it is not easy to find a parking space in the CBD during office or business hours.

In March last year, the city’s transport commission, the development and reform commission and the finance commission unveiled a plan for the construction and operation of multi-level mechanical parking facilities. The city won’t charge land users additional fees if they build such multi-level parking facilities that do not surpass the approved construction space; otherwise additional land prices will be charged to the land users in accordance with related regulations.

Those who plan to build underground parking facilities in public areas, such as parks, schools and sports venues, or to renovate or build parking facilities at or near transport terminals and checkpoints, must submit an appraisal report or, if the facility provides more than 200 parking spaces, a transport impact report for approval.

(Han Ximin)