We have some renters near us who have to park on the street. Some of them are service people of some sort, electricians for example. I don't think a bike will suit them. One lady works all hours at a care home. Tons of people don't have much choice but to drive to work. I'll be alerting them to this proposed charge when I next see them.
I am not advocating the removal of street parking, just the removal of residential parking only areas. We have created a Bizarro market here where most residential areas are free and some are free but restricted to some people. What I think we should be doing is adding a small cost to all parking and allow anyone that pays into that system (and is a resident or business owner) park anywhere they want in the current residential parking areas. This would remove the essential theft of public property by those with restricted areas and also discourage vehicles being parked on the street if there is available space on their property. In my personal opinion free things tend to mess with things.