The meeting on Tuesday was told that the January on street parking metres revenue was $20,000, down from the average monthly revenue of $100,000.
"For it to work as well as it possibly can we need to validate more which could mean we need more parking staff or people need to self validate more, which means everyone will need to be using the app or putting some kiosks in where people put in their registrations," Mr Taylor said.
In his verbal update Mr Taylor also hinted that Sunday's free parking in the CBD rule could be dropped and the charge after two hours be extended to Sunday.
"In some ways the two hours free parking has been a victim of its own success because retailers have raised Sunday parking as an issue now," Mr Taylor said.
Mr Taylor said overall the trial has been a success and has had positive feedback.
"Occupancy rates in the CBD has risen reasonably significantly," Mr Taylor said.
"I am getting really good feedback from businesses and the CBD retailers. A recent analysis by NAI Harcourts says there is currently a high demand from tenants for car parks in and around the CBD and feedback from tenants on the two hour free parking has been positive."