Port Authority discusses parking lease with neighborhood leaders

HYDE PARK, OH (FOX19) - The Port of Greater Cincinnati Development Authority held a meeting on Monday in Hyde Park to discuss the Cincinnati parking lease with neighborhood leaders.

Business owners and members of the Hyde Park Community Council attended the special session to voice their concerns about the parking deal. The Port Authority signed a lease with Cincinnati in June to oversee the management of both parking meters for the next 30 years and city-owned parking lots and garages for up to 50 years.

The lease will give the city $92 million up front and $3 million annually. The Port Authority has a 75-day window to finalize the lease agreement.

Some business owners have expressed worry about the change in hours of meter operation and the increase in neighborhood parking rates.

"The Port Authority is going through an extensive two-month, due diligence process. We're using the input to refine our recommendations to the city," said Port Authority Board Member Rick Greiwe about Monday's meeting.

The next meeting will be held at Port Authority's offices on E. Sixth Street downtown on Thursday at 6:15 p.m.

The Port Authority expects to be able to release their recommendations to Cincinnati City Council by early September.

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