The lot, located on Rosemary Street near the Midway Building and Carrburritos Taqueria, soon will have a one-hour parking limit, though the board did not set a date for implementation.
"I don't think the process will take very long," said Alderman Allen Spalt.
Stepney Edwards, owner of a business on Rosemary Street, requested that a time restriction be implemented to decrease long-term parking, which he felt hurt his business.
Carrboro Planning Department representative Patricia McGuire spoke on Edward's behalf at the meeting, citing the large number of students who Edwards said park in the lot.
"The lot was built for patrons of businesses," McGuire said. "There has been significant drop in customers on Rosemary as a result of no parking spaces being available."
Several aldermen agreed the lot should not be used by students because it was built for the stores on the street.
"The lot is really for the businesses," said Alderman Jacquelyn Gist. "It took a lot of work and money to get the lot built and looking nice."
The aldermen said the purpose of the lot is to support businesses.
"The lot was put in place for the nearby businesses," said Alderman Joal Broun. "Students are abusing the lot. People are unable to use the lot as it was built to be used."