Port Authority approves parking financing

The Port of Greater Cincinnati Development Authority has announced that its Board of Directors took official action today to lease and own a portion of the city's public parking system.

The board unanimously voted to approve resolution No. 2013-15, which authorizes the Port Authority to enter into agreements with Xerox State & Local Solutions, Inc., the on-street parking meter operator, and Denison Parking, Inc., the off-street (parking garage and surface lot) operator. 

Members are Port Authority President & CEO Laura Brunner, Port Authority Vice President Susan Thomas, Cincinnati City Manager Milton Dohoney Jr. and Port Authority Board of Directors' members Ed Jackson and Rick Greiwe.

 Under the lease agreement with the City of Cincinnati, the Port Authority will be responsible for overall governance, overseeing the asset management of both on-street and off-street parking operations, reviewing and approving budgets and hiring a structural engineer to assess the ongoing condition of the assets.

According to Lynn Marmer, Board Vice Chairman, "The lease of the City's parking system to the Port Authority is a good plan to enhance the system through professional management and technology. Our Board agrees that this is the right thing to do to further the growth of our City and that it can be done in a way that reflects the needs of our community."

For additional information, please visit www.cincinnatiport.org

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