Post-Gazette: Parking rates may soar under lease plan

Thursday, July 01, 2010
By Joe Smydo, Pittsburgh Post-Gazette

Parking rates at city-owned garages and meters would rise dramatically under a parking lease proposal Mayor Luke Ravenstahl unveiled Wednesday in a bid to keep control of the city's pension fund.

Mr. Ravenstahl proposed a 50-year lease of meters and parking authority-owned garages and lots, a deal that would essentially end city-subsidized parking and put about 18,000 spaces into private hands.

Under the plan, the city would turn over the parking spaces to a private party who would operate them under terms established by the city and the parking authority. In return, the city would receive a lump sum payment for the 50-year lease.