>>SHOULD.

>>THIS HAS OTHER AULDERMEN

REVIEW

THE

MAYOR'S PARKING METER

DEAL.

SOME 24 COUNCIL MEARMS ARE

BACKING THE MAYOR'S PLAN

TO SAVE

ONE BILLION DOLLARS

OVER 70

YEARS AND SWAP FREE SUNDAY

PARKING FOR

LONGER HOURS

DURING

THE WEEK.

PARIS, IS

THAT AN

OPTION.

>>Reporter: ACCORDING TO

DOWNTOWN ALD BRANDON

RILEY, IT

COULD BE AN

OPTION.

HE'S MEANT WITH THEM,

CUMPLED

NUMBERS AND

THAT THE CIT

Y COULD

BUY THIS BACK

BETWEEN 2 AND

2.$5 BILLION, WHICH IS TWICE

WHAT THEY GOT FOR IT IN

THE

BEGINNING AND HE SAYS THAT THIS

DEAL MATE BE BETTER

FOR THE CITY

THAN THE DEAL THE MAYOR IS

PROPOSING.

>>WHAT I'VE LEARNED SO FAR IS

THAT THIS COULD

WORK.

THEY'RE WORKING CALCULATIONS TO

SEE WHETHER THE CITY MIGHT HAVE

AN OPTION TO CONSIDER FINANCING

A DEAL TO BUY IT

BACK BEFORE THE

LEASE WOULD EXPIRE

IN 61

YEARS,

POSSIBLY USING

TAX-FREE

BONDS,

DEDICATING THE ANNUAL GROSS

REVENUE OF THE METERS

OVER A

HUNDRED MILLION DOLLARS A YEAR

TO HELP SUPPORT THAT

DEBT.

SO AGAIN, THESE ARE

VERY EARLY

DISCUSSIONS.

THEY'RE HIGH

LEVEL.

IF THERE'S SOMETHING THERE,

OBVIOUSLY WE WOULD WANT

TO

EMPLOYEES

ENGAUGE THE

CITY'S FINANCE TEACH

TO DO IT.

THAT'S UP TO MAYOR EMMANUEL.

>>SO WHAT RILEY IS SAYING

THEY

COULD POTENTIALLY GET THIS ASSET

BACK AND PAY FOR IT WITHIN

THE

NEXT 28 YEARS

AS OPPOSED TO

HAVING IT RUP BY A

PRIVATE

COMPANY FOREGOING PRIVATE

REVENUE.

THE MAYOR

SAYS THEY'VE

EXHAUSTED

ALL OPTIONS, INCLUDING THIS

OPTION.

IT'S JUST NOT FEASIBLE, THE DEAL

ON THE TABLE YOU DESCRIBED AT

THE TOP MAKES

THE MOST SENSE

ACCORDING TO THE MAYOR.

NOW RILEY HAS A REASON NOT

TO

LIKE THE MAYOR'S DEAL

BECAUSE

HIS WARD WOULD NOT SEE FREE

PARKING ON

SUNDAYS AND IT'S

WOULD SEE THE INCREASED

PARKING

MONDAY THROUGH

SATURDAY.

>>PARIS, ABOUT THAT DEAL, THE

MAYOR INTRODUCED THE REVOOZED

DEAL AND WITHIN ONE

DAY, 24

AULDERMEN SIGNED UP IN SUPPORT.

IS THAT A BIT

SPRAIZING HOW FAST

THAT HAPPENED GIVEN THE FACT

THAT THE CITY COUNCIL HA

S BEEN

TAKING SO MUCH HEAT FOR

NOT

HAVING SCRUTINIZED IT WHEN TH

E

DEAL WAS ENTERED INTO AND

SIGNING ON

IMMEDIATELY.

>>THIS REVISION IS AT LEAST AS

BIG OR BIGGER THAN THE ORIGINAL

PARKING METEOR DOCUMENT.

IT'S HUGE, THE SIZE OF A PHONE

BOOK AND SOME AULDERMEN ARE VERY

SURPRISED.

24, AS YOU SAID HAVE SIGNED ON

IN SUPPORT, INCLUDING

AULDERMEN

LIKE LESLIE HARRISON WHO WAS

ONE

OF THE FEW WHO OPPOSED

THE

ORIGINAL PARKING MATTER DEAL

PARK PARKING METER

DEAL.

THE COMPANY WOULD SO

READILY

ACCEPT A BILLION DOLLARS

LESS

WITHOUT SOME SORT OF CATCH.

>>IT'S NOT THAT WE DON'T

TRUST

THE MIRROR HIS

MAYOR

MIRROR

MIRROR

HIS EXCELLENT

FINANCE TEAM BUT THE PARKING

MEATER COMPANY HAS

SHOWN ITS

ABILITY TO GET WHAT IT WANTS

FROM USES.

I

US.

I WANT TO MAKE SURE WE'RE NOT

HANDING THEM YET

ANOTHER

WINDFALL WITH THIS VERY VALUABLE

ASSET.

>>YOU KNOW, THE BILLION DOLLARS

THIS SAVINGS THAT THE

MAYOR IS

TALKING ABOUT, SOME PEOPLE ARE

CONFUSED ABOUT AULDERMEN.

I KNOW REPORTERS HAVE BEEN

ASKING QUESTION

ABOUT.

HAS THE ADMINISTRATION COME UP

WITH FIGURES TO

SUSTAIN OR

UPHOLD THAT

ONE BILLION DOLLAR

FIGURE?

>>WE WERE ABLE TO SPEAK TODAY,

PHIL WITH THE PERSON WHO IS

RESPONSIBLE FOR THAT POTENTIAL

BILLION DOLLARS IN

SAVINGS.

THAT'S A CITY'S

CHIEF

INFORMATION OFFICER, BRETT

GOLDSTEIN.

HE ET

UP

SET UP A

MASSIVE DATA

ANALYSIS WHEN THE CITY NEEDED TO

PAY THE PARKING COMPANY

FOR A

LOST PARKING

SPOT AND WHEN THE

CITY DIDN'T

NEED TO

PAY.

SO PER THE DEAL

WHEN A

STREET IS

SHUT DOWN FOR A FESTIVAL OR

REPAIR, THE CITY NEEDS TO PAY

THE LOST REVENUE

TO THAT

COMPANY.

APPARENTLY WHAT WAS HAPPENING

WAS THE COMPANY WAS BILLING THE

CITY FOR OTHER THINGS THAT

WEREN'T THE CITY'S FAULT, LIKE

A

PARKING SPOT GOING

EMPTY, SIMPLY

BECAUSE NO ONE PARKED THERE.

THE CIO SAYS

THAT

HIS

NEW

DATA

ANALYSIS SYSTEM SOLVED THAT

PROBLEM.

>>WHEN WE TAKE AN ACTION ON

THE

SPOT THAT HAS AN

IMPACT, WE ARE

RESPONSIBLE AND OUR LEGAL TEAM,

AFTER REVIEWING IT, THAT THINGS

ABOVE AND BEYOND THAT, WE ARE

RESPONSIBLE FOR.

SO WE WERE

ABLE TO DECOUPLE THAT

AND PROVIDE AN EXACT NUMBER OF

WHAT WE

OWED.

>>THAT'S STILL UNCLEAR AS TO

HOW THAT ADDS UP TO A BILLION

DOLLARS OVER THE

NEXT 70

YEARS.

AULDERMEN RILEY LOGGED THAT

PART

OF THE DEAL AND GIVES THE

MAYOR

CREDIT FOR THAT BUT SAYS WHY

COULDN'T THE MAYOR STOP

THERE.

HE DOESN'T UNDERSTAND WHY THE

MAYOR NEEDED TO GO FOR THAT

SUNDAY PARKING SLOT.