Parking cashout from or reduced parking ratios

The Grand Boulevard (and note the great library resource here) should look at a leased parking authority to enable parking cashout. My friend Mike Bullock wrote this on cashout to reduce the required parking ratio-

My proposals for private parking cashout (government allows less parking for cashout, resulting in excess land which is used to redevelop to create cash flow to offset the cashout cost) is perhaps the only way in industrial parks.

For TOD, the Redevelopment Director should buy all parking for a token amount and then operate the parking for the benefit of the potential users, such as employees, or apartment or condo dwellers, transparent to the change in ownership. The Redevelopment Director could make all on-street parking pay parking and let, for example, workers chose either free parking or monthly cash payment. All cars would be detected and charged (owners billed) or detected as a worker getting free parking (but no cashout). Owners of cars without electronic id would have to pay at a pay station, which would be a hassle but would offer the user an easy way to get a car ID. The advantages are

1.) park once, for all drivers to the TOD

2.) shared parking so less is needed

3.) Redevelopment of excess land can support cashout

4.) Cashout results in less drive alone and more of everything else

5.) unbundled parking for residents results in less car ownership

6.) Redevelopment can add to mixed use so as to reduce trips further

7.) On street parking revenue would be used to cover the cost of new technology and upgrades to the street, and then payments to owners

7.) The Redevelopment Director is in a position to coordinate all parking