Port Authority endorses Cincinnati privatized parking deal - Cincinnati News, FOX19-WXIX TV

Port Authority endorses privatized parking deal

CINCINNATI, OH (FOX19) -

The Port of Greater Cincinnati Development Authority officially endorsed the privatized parking deal with the City of Cincinnati on Friday.

Under the deal, Port Authority will oversee the management of both parking meters for the next 30 years and city-owned parking lots and garages for up to 50 years. 

In exchange, Cincinnati will receive a lump sum payment of $92 million, plus $3 million annually for leasing out its meters and garages.

"You can use a different operator. You can use a different bank.  A different underwriter. The city can borrow money in other ways. But this plan is a very good one. And accomplishes many goals that otherwise, would not be attainable," said Tom Williams, a Port Authority board member.

Port Authority has recommended that hours of meter enforcement in Cincinnati neighborhoods, outside of downtown and Over-the-Rhine, remain until 6 p.m.

In our commitment to balanced news, opponents have said repeatedly during this process that they believe the plan will mean higher parking meter rates which will hurt neighborhood businesses.

Copyright 2013 WXIX. All rights reserved.

  • FOX19 HeadlinesMore>>

  • Ex-Trump aide pleads guilty, will cooperate in Russia probe

    Ex-Trump aide pleads guilty, will cooperate in Russia probe

    Friday, February 23 2018 12:14 AM EST2018-02-23 05:14:34 GMT
    Friday, February 23 2018 5:39 PM EST2018-02-23 22:39:32 GMT
    (AP Photo/Alex Brandon, File). FILE - in this Feb. 14, 2018, file photo, Rick Gates departs Federal District Court in Washington. In a dramatic escalation of pressure and stakes, special counsel Robert Mueller filed additional criminal charges Thursday...(AP Photo/Alex Brandon, File). FILE - in this Feb. 14, 2018, file photo, Rick Gates departs Federal District Court in Washington. In a dramatic escalation of pressure and stakes, special counsel Robert Mueller filed additional criminal charges Thursday...

    Special counsel Robert Mueller has filed additional criminal charges against President Donald Trump's former campaign chairman and his business associate.

    Full Story >

    Special counsel Robert Mueller has filed additional criminal charges against President Donald Trump's former campaign chairman and his business associate.

    Full Story >
  • Trump says arm US teachers; they love kids as others don't

    Trump says arm US teachers; they love kids as others don't

    Friday, February 23 2018 10:18 AM EST2018-02-23 15:18:09 GMT
    Friday, February 23 2018 5:39 PM EST2018-02-23 22:39:18 GMT
    (AP Photo/Andrew Harnik). President Donald Trump takes a question from reporters before boarding Marine One on the South Lawn of the White House in Washington, Friday, Feb. 23, 2018, to travel to Oxon Hill, Md. to speak at the Conservative Political Ac...(AP Photo/Andrew Harnik). President Donald Trump takes a question from reporters before boarding Marine One on the South Lawn of the White House in Washington, Friday, Feb. 23, 2018, to travel to Oxon Hill, Md. to speak at the Conservative Political Ac...
    President Donald Trump says the armed officer who didn't stop the gunman who carried out last week's Florida massacre was either a "coward" or "didn't react properly under pressure.".Full Story >
    President Donald Trump says the armed officer who didn't stop the gunman who carried out last week's Florida massacre was either a "coward" or "didn't react properly under pressure.".Full Story >
  • Russian indicted by US seen as doing favors for Putin

    Russian indicted by US seen as doing favors for Putin

    Thursday, February 22 2018 5:05 PM EST2018-02-22 22:05:38 GMT
    Friday, February 23 2018 5:38 PM EST2018-02-23 22:38:44 GMT
    (AP Photo/Alexander Zemlianichenko, file). FILE - In this Tuesday, Aug. 9, 2016 file photo, businessman Yevgeny Prigozhin, left, gestures on the sidelines of a summit meeting between Russian President Vladimir Putin and Turkish President Recep Tayyip E...(AP Photo/Alexander Zemlianichenko, file). FILE - In this Tuesday, Aug. 9, 2016 file photo, businessman Yevgeny Prigozhin, left, gestures on the sidelines of a summit meeting between Russian President Vladimir Putin and Turkish President Recep Tayyip E...
    The journey of Russian businessman Yevgeny Prigozhin has led from prison to wealthy entrepreneur.Full Story >
    The journey of Russian businessman Yevgeny Prigozhin has led from prison to wealthy entrepreneur.Full Story >
Powered by Frankly