Press Statement

FOR IMMEDIATE RELEASE

Contact: Dan Gilman: 412-255-2133 (cell 412-600-3696)

Monday, September 20, 2010

Daniel.gilman@city.pittsburgh.pa.us

Peduto Statement on Parking Bids

PITTSBURGH - Pittsburgh City Council Finance Chair William Peduto tonight issued the following statement on the release of the bids to privatize Pittsburgh’s parking assets.

This is just the end of the first quarter of the game. I am pleased that we now have a baseline to work off of, but there are still three other options on the table. First, the Mayor’s proposal to privatize parking. Second, keeping the asset public and doing a bond deal to finance the pension gap. Third, joining with cities from across Pennsylvania in a state pension program. Fourth, a hybrid of the above options. While we now have a baseline to work off of, we still need to know the true value of our parking assets. Friday’s release of City Council’s independent consultant’s analysis will provide the value of the asset, as well as independent economic analysis of the options. This information will provide the framework for a healthy discussion in the coming weeks about what is best for the citizens of Pittsburgh.

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