TDM refers to policies and practices that increase the overall efficiency of a transportation network by encouraging diversity in both travel modes and times. By shifting away from a system in which the vast majority of trips are taken in single-occupancy motor vehicles during peak demand periods to one that employs a mix of transportation modes spread over a longer timeframe, the capacity requirements for streets and parking spaces may be reduced. TDM can also help to encourage sustainable travel choices and safer streets.
Some examples of TDM tools include:
• Unbundled Parking – Unbundled parking refers to the de-linking of parking from the purchase or rental of property. This practice removes the ‘sunken cost’ of a parking space which is often attached to the purchase of a property. Unbundling parking gives buyers an opportunity to decide between paying for a parking space to store a personal vehicle and opting for another mode of transportation like transit or a carshare system.
• Off-Street Parking Minimums – The number of spaces that a developer must provide as part of a new development or redevelopment is generally based on the type of land use and/or the square footage. This number is referred to as an ‘off-street parking minimum’. Some cities have eliminated off-street minimums altogether, in specific areas, or for specific types of projects. Under the Winnipeg Downtown Zoning By-law, there are no set off-street minimums for new developments or redevelopments within the downtown.
• Parking Cash-Out Options – Parking cash-out refers to an option provided by employers whereby employees may choose to receive a taxable income in addition to their regular wage or salary in exchange for forgoing the free or subsidized parking normally available at their workplace. Offering cash or vacation credits in lieu of a parking space encourages people to opt for less expensive public transit and active transportation modes.
• Shared Parking – Shared parking refers to the practice of co-locating land uses with different peak demand hours in order to optimize the use of a limited supply of parking.