Wednesday, June 17, 2009

I have no problem with selling the Parking Garages now owned by the Parking Authority

Part of my thinking taken from a thread on another blog, where I posted:

The parking garages should be sold. Heck, the pension funds or the unions could entertain a bid to buy them and have a stream of money for the future.

Sell the garages if a good price is obtained. Don't sell them if the price isn't above and beyond the debt that is retired.

Sold, the garages represent parking -- plus other opportunities for other buildings in the future. The next owners might one year put up other buildings there -- with internal garages, housing, zip lines, whatever. The market can begin to come alive again if the city gets out of the parking business.

The city is the 900-pound gorilla in parking now. When PNC Firstside was built - or URA on 2nd Ave expansion, they all used PARKING as a leverage that the city residents paid dearly for. Same too for Lazarus. They won't build here unless parking is used as sweetener. Screw that. Then we (citizens / taxpayers) get double trouble.

Once the city won't build garages for development deals (hey, remember the sign that was not a sign at bus station) then private owners might build their own garages again.

The bribe chip is taken off the table -- for a while.

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