The proposal will also include investment in public transit, bike lanes and pedestrian pathways.
The move is in sync with many other European cities, which are looking at ways to cut back on traffic and pollution by limiting the number of cars in city centres.
Paris has noted the impact of too many cars, with plans to open a new pedestrian zone on the bank of the River Seine next year and by holding a car-free day for the first time in September.
Cars are also facing a ban from downtown locations in Dublin, as the city sets out to pedestrianise streets, create new light rail links and increase areas for cycling.
London's efforts to limit motorists in the downtown led the city to implement a congestion charge back in 2003. Now, that fee is £11.50 for drivers to head through the downtown during the daytime hours from Monday to Friday.
Madrid is also rolling out plans to keep cars out, with plans to pedestrianise the city centre by 2020.