Cyclists are hailing a decision by the city of Boston to create dedicated bike lanes along one of the city's busiest streets, but one city councilor is questioning the loss of dozens of parking spaces that create hundreds of thousands of dollars in annual revenue.

City officials on Tuesday announced plans to create so-called "cycle tracks" along a stretch of Commonwealth Avenue in Brighton. Under the plan to reconfigure the street, parked cars will provide a barrier between moving traffic and bicyclists, improving safety.

City Councilor Michael Flaherty says the city can't afford the loss of 73 parking spaced that generate $341,000 per year after a winter in which it overspent its snow removal budget by tens of millions of dollars and is considering closing several schools.