Thursday, October 22, 2009

Parking Authority Solicits Special Guidance

Just call it a hunch.

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.


  1. I'm fairly certain that CMU published a study that confirmed your hunch. If my memory serves I think they estimated it would net $71 million at best.

  2. I remember hearing something about that too, Adam -- but my "hunch" had to do with the question of how any of these "20 firms" might be capable of receiving an invitation to study this complexity, research and absorb the Pittsburgh-specific data on a unique problem, and come up with a formal presentation in two weeks? Reminds me of CLT and the traffic lights. I wonder if the fix isn't in. Plus the deadline is the day after election day ... plus it was a mid-day Rich Lord update on a day you'd think he might have been real real busy...

    That's a lot of money to be made by whoever purchases the leases. Who wouldn't want to be in charge of doling out the opportunity.