1 00:00:13,480 --> 00:00:13,947 >>SHOULD. 2 00:00:13,947 --> 00:00:14,615 >>THIS HAS OTHER AULDERMEN 3 00:00:14,615 --> 00:00:15,516 REVIEW 4 00:00:15,516 --> 00:00:16,984 THE 5 00:00:16,984 --> 00:00:18,485 MAYOR'S PARKING METER 6 00:00:18,485 --> 00:00:19,152 DEAL. 7 00:00:19,152 --> 00:00:20,354 SOME 24 COUNCIL MEARMS ARE 8 00:00:20,354 --> 00:00:21,755 BACKING THE MAYOR'S PLAN 9 00:00:21,755 --> 00:00:22,623 TO SAVE 10 00:00:22,623 --> 00:00:24,491 ONE BILLION DOLLARS 11 00:00:24,491 --> 00:00:25,092 OVER 70 12 00:00:25,092 --> 00:00:27,027 YEARS AND SWAP FREE SUNDAY 13 00:00:27,027 --> 00:00:27,661 PARKING FOR 14 00:00:27,661 --> 00:00:28,462 LONGER HOURS 15 00:00:28,462 --> 00:00:28,962 DURING 16 00:00:28,962 --> 00:00:30,531 THE WEEK. 17 00:00:30,531 --> 00:00:31,131 PARIS, IS 18 00:00:31,131 --> 00:00:32,733 THAT AN 19 00:00:32,733 --> 00:00:33,300 OPTION. 20 00:00:33,300 --> 00:00:34,568 >>Reporter: ACCORDING TO 21 00:00:34,568 --> 00:00:35,736 DOWNTOWN ALD BRANDON 22 00:00:35,736 --> 00:00:36,870 RILEY, IT 23 00:00:36,870 --> 00:00:38,105 COULD BE AN 24 00:00:38,105 --> 00:00:38,805 OPTION. 25 00:00:38,805 --> 00:00:40,507 HE'S MEANT WITH THEM, 26 00:00:40,507 --> 00:00:41,542 CUMPLED 27 00:00:41,542 --> 00:00:42,142 NUMBERS AND 28 00:00:42,142 --> 00:00:42,976 THAT THE CIT 29 00:00:42,976 --> 00:00:43,610 Y COULD 30 00:00:43,610 --> 00:00:44,611 BUY THIS BACK 31 00:00:44,611 --> 00:00:46,847 BETWEEN 2 AND 32 00:00:46,847 --> 00:00:48,081 2.$5 BILLION, WHICH IS TWICE 33 00:00:48,081 --> 00:00:49,249 WHAT THEY GOT FOR IT IN 34 00:00:49,249 --> 00:00:50,083 THE 35 00:00:50,083 --> 00:00:51,485 BEGINNING AND HE SAYS THAT THIS 36 00:00:51,485 --> 00:00:52,953 DEAL MATE BE BETTER 37 00:00:52,953 --> 00:00:53,854 FOR THE CITY 38 00:00:53,854 --> 00:00:55,589 THAN THE DEAL THE MAYOR IS 39 00:00:55,589 --> 00:00:56,023 PROPOSING. 40 00:00:56,023 --> 00:00:57,424 >>WHAT I'VE LEARNED SO FAR IS 41 00:00:57,424 --> 00:00:59,259 THAT THIS COULD 42 00:00:59,259 --> 00:00:59,626 WORK. 43 00:00:59,626 --> 00:01:01,094 THEY'RE WORKING CALCULATIONS TO 44 00:01:01,094 --> 00:01:02,529 SEE WHETHER THE CITY MIGHT HAVE 45 00:01:02,529 --> 00:01:03,764 AN OPTION TO CONSIDER FINANCING 46 00:01:03,764 --> 00:01:04,865 A DEAL TO BUY IT 47 00:01:04,865 --> 00:01:06,600 BACK BEFORE THE 48 00:01:06,600 --> 00:01:07,768 LEASE WOULD EXPIRE 49 00:01:07,768 --> 00:01:09,036 IN 61 50 00:01:09,036 --> 00:01:09,503 YEARS, 51 00:01:09,503 --> 00:01:10,537 POSSIBLY USING 52 00:01:10,537 --> 00:01:11,371 TAX-FREE 53 00:01:11,371 --> 00:01:12,072 BONDS, 54 00:01:12,072 --> 00:01:13,640 DEDICATING THE ANNUAL GROSS 55 00:01:13,640 --> 00:01:15,008 REVENUE OF THE METERS 56 00:01:15,008 --> 00:01:15,776 OVER A 57 00:01:15,776 --> 00:01:16,777 HUNDRED MILLION DOLLARS A YEAR 58 00:01:16,777 --> 00:01:18,345 TO HELP SUPPORT THAT 59 00:01:18,345 --> 00:01:18,679 DEBT. 60 00:01:18,679 --> 00:01:20,047 SO AGAIN, THESE ARE 61 00:01:20,047 --> 00:01:21,148 VERY EARLY 62 00:01:21,148 --> 00:01:21,582 DISCUSSIONS. 63 00:01:21,582 --> 00:01:22,616 THEY'RE HIGH 64 00:01:22,616 --> 00:01:23,116 LEVEL. 65 00:01:23,116 --> 00:01:24,451 IF THERE'S SOMETHING THERE, 66 00:01:24,451 --> 00:01:25,886 OBVIOUSLY WE WOULD WANT 67 00:01:25,886 --> 00:01:26,286 TO 68 00:01:26,286 --> 00:01:28,388 EMPLOYEES 69 00:01:28,388 --> 00:01:29,089 ENGAUGE THE 70 00:01:29,089 --> 00:01:29,957 CITY'S FINANCE TEACH 71 00:01:29,957 --> 00:01:30,390 TO DO IT. 72 00:01:30,390 --> 00:01:32,092 THAT'S UP TO MAYOR EMMANUEL. 73 00:01:32,092 --> 00:01:33,160 >>SO WHAT RILEY IS SAYING 74 00:01:33,160 --> 00:01:33,560 THEY 75 00:01:33,560 --> 00:01:34,962 COULD POTENTIALLY GET THIS ASSET 76 00:01:34,962 --> 00:01:36,263 BACK AND PAY FOR IT WITHIN 77 00:01:36,263 --> 00:01:38,165 THE 78 00:01:38,165 --> 00:01:39,099 NEXT 28 YEARS 79 00:01:39,099 --> 00:01:39,933 AS OPPOSED TO 80 00:01:39,933 --> 00:01:41,201 HAVING IT RUP BY A 81 00:01:41,201 --> 00:01:42,903 PRIVATE 82 00:01:42,903 --> 00:01:43,871 COMPANY FOREGOING PRIVATE 83 00:01:43,871 --> 00:01:44,638 REVENUE. 84 00:01:44,638 --> 00:01:46,139 THE MAYOR 85 00:01:46,139 --> 00:01:46,740 SAYS THEY'VE 86 00:01:46,740 --> 00:01:47,140 EXHAUSTED 87 00:01:47,140 --> 00:01:48,876 ALL OPTIONS, INCLUDING THIS 88 00:01:48,876 --> 00:01:49,209 OPTION. 89 00:01:49,209 --> 00:01:50,911 IT'S JUST NOT FEASIBLE, THE DEAL 90 00:01:50,911 --> 00:01:52,379 ON THE TABLE YOU DESCRIBED AT 91 00:01:52,379 --> 00:01:53,313 THE TOP MAKES 92 00:01:53,313 --> 00:01:54,047 THE MOST SENSE 93 00:01:54,047 --> 00:01:54,948 ACCORDING TO THE MAYOR. 94 00:01:54,948 --> 00:01:56,183 NOW RILEY HAS A REASON NOT 95 00:01:56,183 --> 00:01:57,050 TO 96 00:01:57,050 --> 00:01:58,185 LIKE THE MAYOR'S DEAL 97 00:01:58,185 --> 00:01:58,652 BECAUSE 98 00:01:58,652 --> 00:02:00,420 HIS WARD WOULD NOT SEE FREE 99 00:02:00,420 --> 00:02:01,221 PARKING ON 100 00:02:01,221 --> 00:02:02,155 SUNDAYS AND IT'S 101 00:02:02,155 --> 00:02:03,323 WOULD SEE THE INCREASED 102 00:02:03,323 --> 00:02:04,024 PARKING 103 00:02:04,024 --> 00:02:05,192 MONDAY THROUGH 104 00:02:05,192 --> 00:02:05,959 SATURDAY. 105 00:02:05,959 --> 00:02:07,060 >>PARIS, ABOUT THAT DEAL, THE 106 00:02:07,060 --> 00:02:08,662 MAYOR INTRODUCED THE REVOOZED 107 00:02:08,662 --> 00:02:10,664 DEAL AND WITHIN ONE 108 00:02:10,664 --> 00:02:11,031 DAY, 24 109 00:02:11,031 --> 00:02:12,299 AULDERMEN SIGNED UP IN SUPPORT. 110 00:02:12,299 --> 00:02:13,734 IS THAT A BIT 111 00:02:13,734 --> 00:02:14,801 SPRAIZING HOW FAST 112 00:02:14,801 --> 00:02:15,969 THAT HAPPENED GIVEN THE FACT 113 00:02:15,969 --> 00:02:17,171 THAT THE CITY COUNCIL HA 114 00:02:17,171 --> 00:02:17,838 S BEEN 115 00:02:17,838 --> 00:02:19,673 TAKING SO MUCH HEAT FOR 116 00:02:19,673 --> 00:02:20,107 NOT 117 00:02:20,107 --> 00:02:21,341 HAVING SCRUTINIZED IT WHEN TH 118 00:02:21,341 --> 00:02:21,875 E 119 00:02:21,875 --> 00:02:23,710 DEAL WAS ENTERED INTO AND 120 00:02:23,710 --> 00:02:24,211 SIGNING ON 121 00:02:24,211 --> 00:02:24,978 IMMEDIATELY. 122 00:02:24,978 --> 00:02:26,380 >>THIS REVISION IS AT LEAST AS 123 00:02:26,380 --> 00:02:28,882 BIG OR BIGGER THAN THE ORIGINAL 124 00:02:28,882 --> 00:02:29,816 PARKING METEOR DOCUMENT. 125 00:02:29,816 --> 00:02:31,451 IT'S HUGE, THE SIZE OF A PHONE 126 00:02:31,451 --> 00:02:34,254 BOOK AND SOME AULDERMEN ARE VERY 127 00:02:34,254 --> 00:02:34,655 SURPRISED. 128 00:02:34,655 --> 00:02:36,290 24, AS YOU SAID HAVE SIGNED ON 129 00:02:36,290 --> 00:02:37,357 IN SUPPORT, INCLUDING 130 00:02:37,357 --> 00:02:37,758 AULDERMEN 131 00:02:37,758 --> 00:02:39,526 LIKE LESLIE HARRISON WHO WAS 132 00:02:39,526 --> 00:02:39,793 ONE 133 00:02:39,793 --> 00:02:41,094 OF THE FEW WHO OPPOSED 134 00:02:41,094 --> 00:02:42,062 THE 135 00:02:42,062 --> 00:02:46,099 ORIGINAL PARKING MATTER DEAL 136 00:02:46,099 --> 00:02:48,268 PARK PARKING METER 137 00:02:48,268 --> 00:02:48,569 DEAL. 138 00:02:48,569 --> 00:02:49,970 THE COMPANY WOULD SO 139 00:02:49,970 --> 00:02:50,470 READILY 140 00:02:50,470 --> 00:02:51,905 ACCEPT A BILLION DOLLARS 141 00:02:51,905 --> 00:02:52,506 LESS 142 00:02:52,506 --> 00:02:53,674 WITHOUT SOME SORT OF CATCH. 143 00:02:53,674 --> 00:02:55,275 >>IT'S NOT THAT WE DON'T 144 00:02:55,275 --> 00:02:56,009 TRUST 145 00:02:56,009 --> 00:02:58,412 THE MIRROR HIS 146 00:02:58,412 --> 00:02:58,745 MAYOR 147 00:02:58,745 --> 00:03:01,315 MIRROR 148 00:03:01,315 --> 00:03:01,748 MIRROR 149 00:03:01,748 --> 00:03:02,382 HIS EXCELLENT 150 00:03:02,382 --> 00:03:03,750 FINANCE TEAM BUT THE PARKING 151 00:03:03,750 --> 00:03:05,219 MEATER COMPANY HAS 152 00:03:05,219 --> 00:03:05,752 SHOWN ITS 153 00:03:05,752 --> 00:03:07,120 ABILITY TO GET WHAT IT WANTS 154 00:03:07,120 --> 00:03:07,588 FROM USES. 155 00:03:07,588 --> 00:03:09,690 I 156 00:03:09,690 --> 00:03:10,023 US. 157 00:03:10,023 --> 00:03:11,959 I WANT TO MAKE SURE WE'RE NOT 158 00:03:11,959 --> 00:03:12,559 HANDING THEM YET 159 00:03:12,559 --> 00:03:13,360 ANOTHER 160 00:03:13,360 --> 00:03:14,995 WINDFALL WITH THIS VERY VALUABLE 161 00:03:14,995 --> 00:03:16,063 ASSET. 162 00:03:16,063 --> 00:03:17,531 >>YOU KNOW, THE BILLION DOLLARS 163 00:03:17,531 --> 00:03:18,799 THIS SAVINGS THAT THE 164 00:03:18,799 --> 00:03:19,499 MAYOR IS 165 00:03:19,499 --> 00:03:21,835 TALKING ABOUT, SOME PEOPLE ARE 166 00:03:21,835 --> 00:03:22,603 CONFUSED ABOUT AULDERMEN. 167 00:03:22,603 --> 00:03:23,904 I KNOW REPORTERS HAVE BEEN 168 00:03:23,904 --> 00:03:25,372 ASKING QUESTION 169 00:03:25,372 --> 00:03:26,173 ABOUT. 170 00:03:26,173 --> 00:03:27,374 HAS THE ADMINISTRATION COME UP 171 00:03:27,374 --> 00:03:28,575 WITH FIGURES TO 172 00:03:28,575 --> 00:03:29,910 SUSTAIN OR 173 00:03:29,910 --> 00:03:30,744 UPHOLD THAT 174 00:03:30,744 --> 00:03:32,079 ONE BILLION DOLLAR 175 00:03:32,079 --> 00:03:32,479 FIGURE? 176 00:03:32,479 --> 00:03:33,947 >>WE WERE ABLE TO SPEAK TODAY, 177 00:03:33,947 --> 00:03:35,315 PHIL WITH THE PERSON WHO IS 178 00:03:35,315 --> 00:03:36,850 RESPONSIBLE FOR THAT POTENTIAL 179 00:03:36,850 --> 00:03:37,885 BILLION DOLLARS IN 180 00:03:37,885 --> 00:03:38,318 SAVINGS. 181 00:03:38,318 --> 00:03:39,353 THAT'S A CITY'S 182 00:03:39,353 --> 00:03:39,720 CHIEF 183 00:03:39,720 --> 00:03:42,022 INFORMATION OFFICER, BRETT 184 00:03:42,022 --> 00:03:42,422 GOLDSTEIN. 185 00:03:42,422 --> 00:03:43,790 HE ET 186 00:03:43,790 --> 00:03:45,959 UP 187 00:03:45,959 --> 00:03:47,160 SET UP A 188 00:03:47,160 --> 00:03:47,961 MASSIVE DATA 189 00:03:47,961 --> 00:03:49,096 ANALYSIS WHEN THE CITY NEEDED TO 190 00:03:49,096 --> 00:03:50,664 PAY THE PARKING COMPANY 191 00:03:50,664 --> 00:03:51,598 FOR A 192 00:03:51,598 --> 00:03:52,432 LOST PARKING 193 00:03:52,432 --> 00:03:53,834 SPOT AND WHEN THE 194 00:03:53,834 --> 00:03:54,568 CITY DIDN'T 195 00:03:54,568 --> 00:03:55,702 NEED TO 196 00:03:55,702 --> 00:03:56,036 PAY. 197 00:03:56,036 --> 00:03:57,304 SO PER THE DEAL 198 00:03:57,304 --> 00:03:58,005 WHEN A 199 00:03:58,005 --> 00:03:59,239 STREET IS 200 00:03:59,239 --> 00:04:00,841 SHUT DOWN FOR A FESTIVAL OR 201 00:04:00,841 --> 00:04:02,142 REPAIR, THE CITY NEEDS TO PAY 202 00:04:02,142 --> 00:04:03,210 THE LOST REVENUE 203 00:04:03,210 --> 00:04:04,211 TO THAT 204 00:04:04,211 --> 00:04:04,578 COMPANY. 205 00:04:04,578 --> 00:04:05,812 APPARENTLY WHAT WAS HAPPENING 206 00:04:05,812 --> 00:04:07,114 WAS THE COMPANY WAS BILLING THE 207 00:04:07,114 --> 00:04:08,682 CITY FOR OTHER THINGS THAT 208 00:04:08,682 --> 00:04:10,017 WEREN'T THE CITY'S FAULT, LIKE 209 00:04:10,017 --> 00:04:10,584 A 210 00:04:10,584 --> 00:04:12,052 PARKING SPOT GOING 211 00:04:12,052 --> 00:04:12,886 EMPTY, SIMPLY 212 00:04:12,886 --> 00:04:13,987 BECAUSE NO ONE PARKED THERE. 213 00:04:13,987 --> 00:04:15,589 THE CIO SAYS 214 00:04:15,589 --> 00:04:16,089 THAT 215 00:04:16,089 --> 00:04:16,924 HIS 216 00:04:16,924 --> 00:04:17,691 NEW 217 00:04:17,691 --> 00:04:18,425 DATA 218 00:04:18,425 --> 00:04:19,626 ANALYSIS SYSTEM SOLVED THAT 219 00:04:19,626 --> 00:04:20,060 PROBLEM. 220 00:04:20,060 --> 00:04:21,695 >>WHEN WE TAKE AN ACTION ON 221 00:04:21,695 --> 00:04:22,329 THE 222 00:04:22,329 --> 00:04:23,397 SPOT THAT HAS AN 223 00:04:23,397 --> 00:04:25,132 IMPACT, WE ARE 224 00:04:25,132 --> 00:04:26,466 RESPONSIBLE AND OUR LEGAL TEAM, 225 00:04:26,466 --> 00:04:28,001 AFTER REVIEWING IT, THAT THINGS 226 00:04:28,001 --> 00:04:29,269 ABOVE AND BEYOND THAT, WE ARE 227 00:04:29,269 --> 00:04:29,770 RESPONSIBLE FOR. 228 00:04:29,770 --> 00:04:31,438 SO WE WERE 229 00:04:31,438 --> 00:04:32,840 ABLE TO DECOUPLE THAT 230 00:04:32,840 --> 00:04:34,074 AND PROVIDE AN EXACT NUMBER OF 231 00:04:34,074 --> 00:04:35,242 WHAT WE 232 00:04:35,242 --> 00:04:35,876 OWED. 233 00:04:35,876 --> 00:04:37,010 >>THAT'S STILL UNCLEAR AS TO 234 00:04:37,010 --> 00:04:38,912 HOW THAT ADDS UP TO A BILLION 235 00:04:38,912 --> 00:04:39,913 DOLLARS OVER THE 236 00:04:39,913 --> 00:04:41,048 NEXT 70 237 00:04:41,048 --> 00:04:41,415 YEARS. 238 00:04:41,415 --> 00:04:42,749 AULDERMEN RILEY LOGGED THAT 239 00:04:42,749 --> 00:04:43,050 PART 240 00:04:43,050 --> 00:04:44,351 OF THE DEAL AND GIVES THE 241 00:04:44,351 --> 00:04:44,718 MAYOR 242 00:04:44,718 --> 00:04:46,386 CREDIT FOR THAT BUT SAYS WHY 243 00:04:46,386 --> 00:04:47,487 COULDN'T THE MAYOR STOP 244 00:04:47,487 --> 00:04:48,055 THERE. 245 00:04:48,055 --> 00:04:48,989 HE DOESN'T UNDERSTAND WHY THE 246 00:04:48,989 --> 00:04:50,791 MAYOR NEEDED TO GO FOR THAT 247 00:04:50,791 --> 00:04:54,791 SUNDAY PARKING SLOT.