PROVIDENCE, R.I. (WPRI) — More parking meters will soon be seen around the city of Providence, much to the disapproval of many residents and business owners.

In an effort to increase revenue for the city, Mayor Jorge Elorza aims to add 700 new meters to Federal Hill, parts of the East Side, and near the vacant I-195 land.

The plan was part of the mayor’s budget for the fiscal year that started July 1, 2015, which also called for every meter in the city to be updated to accept credit cards. Elorza’s office said it’s projected to generate an additional $2 million in revenue for the current fiscal year.

Many business owners are unhappy with the decision, including one of the owners of Adler’s Hardware Store on Wickenden Street.

“It’s hard enough for people to park in this area,” Marc Alder explained. “This will only add to the problem.”

The mayor’s office said studies show parking meters actually compliment business activities.

Alder feels his business already pays its fair share to the city, including the thousands paid in property taxes.

“I think it’s very unfair for them to put in meters and have such a negative impact on our business,” he said.

The mayor’s office said parking meters will be installed on Wickenden Street once a different construction project is completed.