Thursday, January 15, 2009

Mayor Looking Into Leasing Parking Garages To Pay For Pensions

Pittsburgh Mayor Luke Ravenstahl announced that the Pittsburgh Parking Authority will vote to issue a Request for Proposals (RFP) to conduct a feasibility study on the revenue that could be generated from leasing or selling the authority's 11 parking garages.

The Mayor used successful examples of similar decisions made by other cities such as Chicago and Harrisburg. Ravenstahl said Chicago was able to generate over $500 million resulting from the lease of parking garages.

The Mayor said after the first RFP is completed and a study completed he will then decide whether or not to go forward with a second RFP that would call for bids to lease or purchase the garages.

No comments: