>>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.