The Pittsburgh Parking Authority yesterday invited around 20 firms to send in proposals to serve as advisors on the planned lease of public garages and metered spaces in the city.
The winning firm would guide the authority through selection of, and negotiation with, a firm that would pay a lump sum in return for a decades-long lease and control of parking revenues. (P-G, Rich Lord)
Interested firms have until Nov. 4 to respond. (ibid)
Mayor Luke Ravenstahl hopes that a lease would net at least $200 million, which would be used to stabilize the city’s ailing pension fund. (ibid)
My understanding is that there is little out there to support that conjecture and quite a bit to refute it.