The state Senate this afternoon ignored pleas from Pittsburgh Mayor Luke Ravenstahl and included the city in a bill for the state to take over struggling municipal pension systems. (P-G, Lord and Barnes)
The alleged three years of “constant consultations with our allies in Harrisburg” did not seem to bear any fruit.
“Just give us a chance to solve this locally,” the mayor said in an interview between calls to Harrisburg. “We can do it … Give us a two-year window to explore leasing [public] garages” and putting the proceeds into the city’s pension pool. (ibid)
As I pointed out, even an additional $200 million from our parking garages would only boost the City’s pension funding level to 50.3%, on paper. Something else would still need to happen, and apparently this is the something else we’re getting.
I thought things were going okay?