The Proposed Pittsburgh Parking Lease: A Look at the Numbers

As the Mayor takes his case for leasing the parking garages, lots, and meters to the public he has to wonder if at least one of the interested companies will see sufficient earnings potential from a long term lease to justify an offer of $300 million the City hopes to get. This is the amount needed to cover the Parking Authority’s outstanding bond debt of about $100 million and provide $200 million for the City’s pension funds.

 

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