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Port Authority Gives Go on Parking System Operators
CINCINNATI (WKRC) -- Cincinnati's Port Authority gave the green light to hire parking system operators in a meeting Saturday.
The Port Authority's board of directors held a special meeting to discuss the issue. That is where they authorized the agency to move forward on several key actions regarding the Port Authority's June 21st agreement with the city of Cincinnati to lease and own a portion of the city's public parking system.
The Port Authority can now enter into agreements with Xerox State and Local Solutions, the on-street parking meter operator, and Denison Parking, the off-street operator.
The board members approval also allows the port authority to prepare for the sale of the parking bonds.
The city will use the proceeds from the bond sales, some $105-million and the debt will be repaid with money made leasing the parking.
A closing on the bond sale is expected in November.
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