By Associated Press - Wednesday, June 18, 2014

PHOENIX (AP) - Parking rates on some downtown Phoenix streets could soon cost as much as $4 per hour during peak times.

The Phoenix City Council approved a measure Wednesday to raise rates at parking meters around the city.

The proposal will see meters priced anywhere from 50 cents to $4 an hour based on demand and the nature of events happening nearby.

The higher-priced meters will likely be those on streets closest to Chase Field and US Airways Center during games, concerts and other events.

The proposal also would lengthen the number of hours meters are active daily.

Phoenix collected about $1.65 million in coins and debit-card transactions for parking meters during fiscal 2013.

City staff believes Phoenix can increase revenue by as much as $2 million annually with the rate changes.

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