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File #: 2021-1678    Version:
Type: Resolution Status: Passed Finally
File created: 7/2/2021 In control: Committee on Finance and Law
On agenda: 7/21/2021 Final action: 7/27/2021
Enactment date: 7/27/2021 Enactment #: 474
Effective date: 7/29/2021    
Title: Resolution amending Resolution 865 of 2014, entitled "Resolution amending Resolution 130 of 2011 to authorize the Mayor and the Director of Finance, on behalf of the City of Pittsburgh, to enter into an Amendment to Parking Agreements to amend existing designated Meter Revenue and Cooperation Agreements between the City of Pittsburgh and the Pittsburgh Public Parking Authority for the purpose of dedicating revenue generated by increased parking meter rates to the City and to further document updates to the Parking Court Cooperation Agreement, the Mellon Square Garage Lease, and the Monongahela Wharf Lease" to authorize a Second Amendment to Parking Agreements to further amend the Cooperation Agreement and the Monongahela Wharf Lease between the City and the Pittsburgh Public Parking Authority and to amend certain other terms of the Amendment to Parking Agreements.
Attachments: 1. 2021-1678 Cover Letter Mayor Letter PPAP Amendment, 2. Summary 2021-1678
Title
Resolution amending Resolution 865 of 2014, entitled "Resolution amending Resolution 130 of 2011 to authorize the Mayor and the Director of Finance, on behalf of the City of Pittsburgh, to enter into an Amendment to Parking Agreements to amend existing designated Meter Revenue and Cooperation Agreements between the City of Pittsburgh and the Pittsburgh Public Parking Authority for the purpose of dedicating revenue generated by increased parking meter rates to the City and to further document updates to the Parking Court Cooperation Agreement, the Mellon Square Garage Lease, and the Monongahela Wharf Lease" to authorize a Second Amendment to Parking Agreements to further amend the Cooperation Agreement and the Monongahela Wharf Lease between the City and the Pittsburgh Public Parking Authority and to amend certain other terms of the Amendment to Parking Agreements.

Body
WHEREAS, in 2011, City Council passed Resolution 130 of 2011 to set forth its intent for the City to amend existing agreements with the Authority to ensure that the City receives revenue generated by increased parking meter rates in order to offset some of the parking tax revenue that has been diverted to the Comprehensive Municipal Pension Trust Fund through the year 2041; and

WHEREAS, as of January 1, 2015, the City and the Authority entered into an Amendment to Parking Agreements, whereby the parties amended the relevant Meter Revenue Agreement (dated December 18, 1985) (as amended and supplemented by an Amendment Agreement dated as of January 1, 2000), the Cooperation Agreement (dated as of February 5, 1995), the Parking Court Cooperation Agreement (dated as of May 18, 2005), the Mellon Square Garage Lease (dated July 20, 1993) and the Monongahela and Allegheny Wharf Lease (dated as of January 1, 1987) (as amended by the Amendment to Monongahela and Allegheny Wharf Lease dated as of September 1, 1989); and

WHEREAS, due to loss of parking revenue in 2020 and 2021 resulting from ...

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