WEBVTT 00:13.480 --> 00:13.947 >>SHOULD. 00:13.947 --> 00:14.615 >>THIS HAS OTHER AULDERMEN 00:14.615 --> 00:15.516 REVIEW 00:15.516 --> 00:16.984 THE 00:16.984 --> 00:18.485 MAYOR'S PARKING METER 00:18.485 --> 00:19.152 DEAL. 00:19.152 --> 00:20.354 SOME 24 COUNCIL MEARMS ARE 00:20.354 --> 00:21.755 BACKING THE MAYOR'S PLAN 00:21.755 --> 00:22.623 TO SAVE 00:22.623 --> 00:24.491 ONE BILLION DOLLARS 00:24.491 --> 00:25.092 OVER 70 00:25.092 --> 00:27.027 YEARS AND SWAP FREE SUNDAY 00:27.027 --> 00:27.661 PARKING FOR 00:27.661 --> 00:28.462 LONGER HOURS 00:28.462 --> 00:28.962 DURING 00:28.962 --> 00:30.531 THE WEEK. 00:30.531 --> 00:31.131 PARIS, IS 00:31.131 --> 00:32.733 THAT AN 00:32.733 --> 00:33.300 OPTION. 00:33.300 --> 00:34.568 >>Reporter: ACCORDING TO 00:34.568 --> 00:35.736 DOWNTOWN ALD BRANDON 00:35.736 --> 00:36.870 RILEY, IT 00:36.870 --> 00:38.105 COULD BE AN 00:38.105 --> 00:38.805 OPTION. 00:38.805 --> 00:40.507 HE'S MEANT WITH THEM, 00:40.507 --> 00:41.542 CUMPLED 00:41.542 --> 00:42.142 NUMBERS AND 00:42.142 --> 00:42.976 THAT THE CIT 00:42.976 --> 00:43.610 Y COULD 00:43.610 --> 00:44.611 BUY THIS BACK 00:44.611 --> 00:46.847 BETWEEN 2 AND 00:46.847 --> 00:48.081 2.$5 BILLION, WHICH IS TWICE 00:48.081 --> 00:49.249 WHAT THEY GOT FOR IT IN 00:49.249 --> 00:50.083 THE 00:50.083 --> 00:51.485 BEGINNING AND HE SAYS THAT THIS 00:51.485 --> 00:52.953 DEAL MATE BE BETTER 00:52.953 --> 00:53.854 FOR THE CITY 00:53.854 --> 00:55.589 THAN THE DEAL THE MAYOR IS 00:55.589 --> 00:56.023 PROPOSING. 00:56.023 --> 00:57.424 >>WHAT I'VE LEARNED SO FAR IS 00:57.424 --> 00:59.259 THAT THIS COULD 00:59.259 --> 00:59.626 WORK. 00:59.626 --> 01:01.094 THEY'RE WORKING CALCULATIONS TO 01:01.094 --> 01:02.529 SEE WHETHER THE CITY MIGHT HAVE 01:02.529 --> 01:03.764 AN OPTION TO CONSIDER FINANCING 01:03.764 --> 01:04.865 A DEAL TO BUY IT 01:04.865 --> 01:06.600 BACK BEFORE THE 01:06.600 --> 01:07.768 LEASE WOULD EXPIRE 01:07.768 --> 01:09.036 IN 61 01:09.036 --> 01:09.503 YEARS, 01:09.503 --> 01:10.537 POSSIBLY USING 01:10.537 --> 01:11.371 TAX-FREE 01:11.371 --> 01:12.072 BONDS, 01:12.072 --> 01:13.640 DEDICATING THE ANNUAL GROSS 01:13.640 --> 01:15.008 REVENUE OF THE METERS 01:15.008 --> 01:15.776 OVER A 01:15.776 --> 01:16.777 HUNDRED MILLION DOLLARS A YEAR 01:16.777 --> 01:18.345 TO HELP SUPPORT THAT 01:18.345 --> 01:18.679 DEBT. 01:18.679 --> 01:20.047 SO AGAIN, THESE ARE 01:20.047 --> 01:21.148 VERY EARLY 01:21.148 --> 01:21.582 DISCUSSIONS. 01:21.582 --> 01:22.616 THEY'RE HIGH 01:22.616 --> 01:23.116 LEVEL. 01:23.116 --> 01:24.451 IF THERE'S SOMETHING THERE, 01:24.451 --> 01:25.886 OBVIOUSLY WE WOULD WANT 01:25.886 --> 01:26.286 TO 01:26.286 --> 01:28.388 EMPLOYEES 01:28.388 --> 01:29.089 ENGAUGE THE 01:29.089 --> 01:29.957 CITY'S FINANCE TEACH 01:29.957 --> 01:30.390 TO DO IT. 01:30.390 --> 01:32.092 THAT'S UP TO MAYOR EMMANUEL. 01:32.092 --> 01:33.160 >>SO WHAT RILEY IS SAYING 01:33.160 --> 01:33.560 THEY 01:33.560 --> 01:34.962 COULD POTENTIALLY GET THIS ASSET 01:34.962 --> 01:36.263 BACK AND PAY FOR IT WITHIN 01:36.263 --> 01:38.165 THE 01:38.165 --> 01:39.099 NEXT 28 YEARS 01:39.099 --> 01:39.933 AS OPPOSED TO 01:39.933 --> 01:41.201 HAVING IT RUP BY A 01:41.201 --> 01:42.903 PRIVATE 01:42.903 --> 01:43.871 COMPANY FOREGOING PRIVATE 01:43.871 --> 01:44.638 REVENUE. 01:44.638 --> 01:46.139 THE MAYOR 01:46.139 --> 01:46.740 SAYS THEY'VE 01:46.740 --> 01:47.140 EXHAUSTED 01:47.140 --> 01:48.876 ALL OPTIONS, INCLUDING THIS 01:48.876 --> 01:49.209 OPTION. 01:49.209 --> 01:50.911 IT'S JUST NOT FEASIBLE, THE DEAL 01:50.911 --> 01:52.379 ON THE TABLE YOU DESCRIBED AT 01:52.379 --> 01:53.313 THE TOP MAKES 01:53.313 --> 01:54.047 THE MOST SENSE 01:54.047 --> 01:54.948 ACCORDING TO THE MAYOR. 01:54.948 --> 01:56.183 NOW RILEY HAS A REASON NOT 01:56.183 --> 01:57.050 TO 01:57.050 --> 01:58.185 LIKE THE MAYOR'S DEAL 01:58.185 --> 01:58.652 BECAUSE 01:58.652 --> 02:00.420 HIS WARD WOULD NOT SEE FREE 02:00.420 --> 02:01.221 PARKING ON 02:01.221 --> 02:02.155 SUNDAYS AND IT'S 02:02.155 --> 02:03.323 WOULD SEE THE INCREASED 02:03.323 --> 02:04.024 PARKING 02:04.024 --> 02:05.192 MONDAY THROUGH 02:05.192 --> 02:05.959 SATURDAY. 02:05.959 --> 02:07.060 >>PARIS, ABOUT THAT DEAL, THE 02:07.060 --> 02:08.662 MAYOR INTRODUCED THE REVOOZED 02:08.662 --> 02:10.664 DEAL AND WITHIN ONE 02:10.664 --> 02:11.031 DAY, 24 02:11.031 --> 02:12.299 AULDERMEN SIGNED UP IN SUPPORT. 02:12.299 --> 02:13.734 IS THAT A BIT 02:13.734 --> 02:14.801 SPRAIZING HOW FAST 02:14.801 --> 02:15.969 THAT HAPPENED GIVEN THE FACT 02:15.969 --> 02:17.171 THAT THE CITY COUNCIL HA 02:17.171 --> 02:17.838 S BEEN 02:17.838 --> 02:19.673 TAKING SO MUCH HEAT FOR 02:19.673 --> 02:20.107 NOT 02:20.107 --> 02:21.341 HAVING SCRUTINIZED IT WHEN TH 02:21.341 --> 02:21.875 E 02:21.875 --> 02:23.710 DEAL WAS ENTERED INTO AND 02:23.710 --> 02:24.211 SIGNING ON 02:24.211 --> 02:24.978 IMMEDIATELY. 02:24.978 --> 02:26.380 >>THIS REVISION IS AT LEAST AS 02:26.380 --> 02:28.882 BIG OR BIGGER THAN THE ORIGINAL 02:28.882 --> 02:29.816 PARKING METEOR DOCUMENT. 02:29.816 --> 02:31.451 IT'S HUGE, THE SIZE OF A PHONE 02:31.451 --> 02:34.254 BOOK AND SOME AULDERMEN ARE VERY 02:34.254 --> 02:34.655 SURPRISED. 02:34.655 --> 02:36.290 24, AS YOU SAID HAVE SIGNED ON 02:36.290 --> 02:37.357 IN SUPPORT, INCLUDING 02:37.357 --> 02:37.758 AULDERMEN 02:37.758 --> 02:39.526 LIKE LESLIE HARRISON WHO WAS 02:39.526 --> 02:39.793 ONE 02:39.793 --> 02:41.094 OF THE FEW WHO OPPOSED 02:41.094 --> 02:42.062 THE 02:42.062 --> 02:46.099 ORIGINAL PARKING MATTER DEAL 02:46.099 --> 02:48.268 PARK PARKING METER 02:48.268 --> 02:48.569 DEAL. 02:48.569 --> 02:49.970 THE COMPANY WOULD SO 02:49.970 --> 02:50.470 READILY 02:50.470 --> 02:51.905 ACCEPT A BILLION DOLLARS 02:51.905 --> 02:52.506 LESS 02:52.506 --> 02:53.674 WITHOUT SOME SORT OF CATCH. 02:53.674 --> 02:55.275 >>IT'S NOT THAT WE DON'T 02:55.275 --> 02:56.009 TRUST 02:56.009 --> 02:58.412 THE MIRROR HIS 02:58.412 --> 02:58.745 MAYOR 02:58.745 --> 03:01.315 MIRROR 03:01.315 --> 03:01.748 MIRROR 03:01.748 --> 03:02.382 HIS EXCELLENT 03:02.382 --> 03:03.750 FINANCE TEAM BUT THE PARKING 03:03.750 --> 03:05.219 MEATER COMPANY HAS 03:05.219 --> 03:05.752 SHOWN ITS 03:05.752 --> 03:07.120 ABILITY TO GET WHAT IT WANTS 03:07.120 --> 03:07.588 FROM USES. 03:07.588 --> 03:09.690 I 03:09.690 --> 03:10.023 US. 03:10.023 --> 03:11.959 I WANT TO MAKE SURE WE'RE NOT 03:11.959 --> 03:12.559 HANDING THEM YET 03:12.559 --> 03:13.360 ANOTHER 03:13.360 --> 03:14.995 WINDFALL WITH THIS VERY VALUABLE 03:14.995 --> 03:16.063 ASSET. 03:16.063 --> 03:17.531 >>YOU KNOW, THE BILLION DOLLARS 03:17.531 --> 03:18.799 THIS SAVINGS THAT THE 03:18.799 --> 03:19.499 MAYOR IS 03:19.499 --> 03:21.835 TALKING ABOUT, SOME PEOPLE ARE 03:21.835 --> 03:22.603 CONFUSED ABOUT AULDERMEN. 03:22.603 --> 03:23.904 I KNOW REPORTERS HAVE BEEN 03:23.904 --> 03:25.372 ASKING QUESTION 03:25.372 --> 03:26.173 ABOUT. 03:26.173 --> 03:27.374 HAS THE ADMINISTRATION COME UP 03:27.374 --> 03:28.575 WITH FIGURES TO 03:28.575 --> 03:29.910 SUSTAIN OR 03:29.910 --> 03:30.744 UPHOLD THAT 03:30.744 --> 03:32.079 ONE BILLION DOLLAR 03:32.079 --> 03:32.479 FIGURE? 03:32.479 --> 03:33.947 >>WE WERE ABLE TO SPEAK TODAY, 03:33.947 --> 03:35.315 PHIL WITH THE PERSON WHO IS 03:35.315 --> 03:36.850 RESPONSIBLE FOR THAT POTENTIAL 03:36.850 --> 03:37.885 BILLION DOLLARS IN 03:37.885 --> 03:38.318 SAVINGS. 03:38.318 --> 03:39.353 THAT'S A CITY'S 03:39.353 --> 03:39.720 CHIEF 03:39.720 --> 03:42.022 INFORMATION OFFICER, BRETT 03:42.022 --> 03:42.422 GOLDSTEIN. 03:42.422 --> 03:43.790 HE ET 03:43.790 --> 03:45.959 UP 03:45.959 --> 03:47.160 SET UP A 03:47.160 --> 03:47.961 MASSIVE DATA 03:47.961 --> 03:49.096 ANALYSIS WHEN THE CITY NEEDED TO 03:49.096 --> 03:50.664 PAY THE PARKING COMPANY 03:50.664 --> 03:51.598 FOR A 03:51.598 --> 03:52.432 LOST PARKING 03:52.432 --> 03:53.834 SPOT AND WHEN THE 03:53.834 --> 03:54.568 CITY DIDN'T 03:54.568 --> 03:55.702 NEED TO 03:55.702 --> 03:56.036 PAY. 03:56.036 --> 03:57.304 SO PER THE DEAL 03:57.304 --> 03:58.005 WHEN A 03:58.005 --> 03:59.239 STREET IS 03:59.239 --> 04:00.841 SHUT DOWN FOR A FESTIVAL OR 04:00.841 --> 04:02.142 REPAIR, THE CITY NEEDS TO PAY 04:02.142 --> 04:03.210 THE LOST REVENUE 04:03.210 --> 04:04.211 TO THAT 04:04.211 --> 04:04.578 COMPANY. 04:04.578 --> 04:05.812 APPARENTLY WHAT WAS HAPPENING 04:05.812 --> 04:07.114 WAS THE COMPANY WAS BILLING THE 04:07.114 --> 04:08.682 CITY FOR OTHER THINGS THAT 04:08.682 --> 04:10.017 WEREN'T THE CITY'S FAULT, LIKE 04:10.017 --> 04:10.584 A 04:10.584 --> 04:12.052 PARKING SPOT GOING 04:12.052 --> 04:12.886 EMPTY, SIMPLY 04:12.886 --> 04:13.987 BECAUSE NO ONE PARKED THERE. 04:13.987 --> 04:15.589 THE CIO SAYS 04:15.589 --> 04:16.089 THAT 04:16.089 --> 04:16.924 HIS 04:16.924 --> 04:17.691 NEW 04:17.691 --> 04:18.425 DATA 04:18.425 --> 04:19.626 ANALYSIS SYSTEM SOLVED THAT 04:19.626 --> 04:20.060 PROBLEM. 04:20.060 --> 04:21.695 >>WHEN WE TAKE AN ACTION ON 04:21.695 --> 04:22.329 THE 04:22.329 --> 04:23.397 SPOT THAT HAS AN 04:23.397 --> 04:25.132 IMPACT, WE ARE 04:25.132 --> 04:26.466 RESPONSIBLE AND OUR LEGAL TEAM, 04:26.466 --> 04:28.001 AFTER REVIEWING IT, THAT THINGS 04:28.001 --> 04:29.269 ABOVE AND BEYOND THAT, WE ARE 04:29.269 --> 04:29.770 RESPONSIBLE FOR. 04:29.770 --> 04:31.438 SO WE WERE 04:31.438 --> 04:32.840 ABLE TO DECOUPLE THAT 04:32.840 --> 04:34.074 AND PROVIDE AN EXACT NUMBER OF 04:34.074 --> 04:35.242 WHAT WE 04:35.242 --> 04:35.876 OWED. 04:35.876 --> 04:37.010 >>THAT'S STILL UNCLEAR AS TO 04:37.010 --> 04:38.912 HOW THAT ADDS UP TO A BILLION 04:38.912 --> 04:39.913 DOLLARS OVER THE 04:39.913 --> 04:41.048 NEXT 70 04:41.048 --> 04:41.415 YEARS. 04:41.415 --> 04:42.749 AULDERMEN RILEY LOGGED THAT 04:42.749 --> 04:43.050 PART 04:43.050 --> 04:44.351 OF THE DEAL AND GIVES THE 04:44.351 --> 04:44.718 MAYOR 04:44.718 --> 04:46.386 CREDIT FOR THAT BUT SAYS WHY 04:46.386 --> 04:47.487 COULDN'T THE MAYOR STOP 04:47.487 --> 04:48.055 THERE. 04:48.055 --> 04:48.989 HE DOESN'T UNDERSTAND WHY THE 04:48.989 --> 04:50.791 MAYOR NEEDED TO GO FOR THAT 04:50.791 --> 04:54.791 SUNDAY PARKING SLOT.