The city of Long Beach is proposing the addition of parking meters as it faces nearly $500 million in debt.

The implementation of meters would be placed between Lafayette and Monroe boulevards in the city's central business district.

There have been no prices set, but models show that drivers might have to pay between $2 and $4 an hour in the summer and $1 in the offseason.

The city believes the meters could generate between $6 million and $12 million annually.

If the new parking proposal is approved, the city says meters would be in effect from 9 a.m. to 11 p.m. with longer times available near restaurants.

City spokesperson John McNally released a statement to News 12, saying in part, "We need better parking behavior to help our downtown businesses and the city needs to diversify its revenue streams, so our financial recovery isn't done on the backs of our residents through property tax increases. If done well, we think this program can achieve both ends."

Others like James Lynch, co-chair of the Long Beach Chamber of Commerce, are concerned about how it will affect businesses on the strip dealing with the long-term effects of the pandemic.

"We're very concerned that, coming out of the pandemic, these businesses need the ability to thrive," Lynch says. "They have held on this long and they are expecting a good summer. What often happens with these parking meters is that the businesses will feel the brunt of it from people just pushing back initially."

Residents seem concerned that taxes are already too high and parking is already hard to find in the city.

The proposal still has to go before the City Council where residents would be able to review formal plans and offer input before it is voted on.

The city also has to approve a vendor and amend city code to add paid parking.