Pittsburgh Logo
Share to Facebook Share to Twitter Bookmark and Share
File #: 2010-0569    Version: 1
Type: Resolution Status: Passed Finally
File created: 6/1/2010 In control: Committee on Finance and Law
On agenda: Final action: 6/8/2010
Enactment date: 6/8/2010 Enactment #: 395
Effective date:    
Title: Resolution amending Resolution No. 154 of 2010, effective March 31, 2010 entitled "Authorizing and directing the City Clerk to enter into an agreement or agreements with the Comprehensive Municipal Pension Trust Fund Board (CMPTF), the Government Finance Officers Association (GFOA), and the Intergovernmental Cooperation Authority (ICA) and/or other entities for the purpose of providing an independent examination of the value of the assets of the Pittsburgh Parking Authority." By increasing the amount from $50,000.00 to $250,000.00 and changing certain language.
Sponsors: Darlene M. Harris, Patrick Dowd, R. Daniel Lavelle, Natalia Rudiak, Douglas Shields
Indexes: AGREEMENTS, PARKING ASSETS
Attachments: 1. 2010-0569.doc, 2. 2010-0569 ATTACHMENT-Final Report.pdf
Title
Resolution amending Resolution No. 154 of 2010, effective March 31, 2010 entitled "Authorizing and directing the City Clerk to enter into an agreement or agreements with the Comprehensive Municipal Pension Trust Fund Board (CMPTF), the Government Finance Officers Association (GFOA), and the Intergovernmental Cooperation Authority (ICA) and/or other entities for the purpose of providing an independent examination of the value of the assets of the Pittsburgh Parking Authority." By increasing the amount from $50,000.00 to $250,000.00 and changing certain language.

Body
Be it resolved by the Council of the City of Pittsburgh as follows:


Section 1. Resolution No. 154 of 2010, effective March 31, 2010 shall be amended as follows:

Authorizing and directing the City Clerk to enter into a professional services contract or contracts and/or an agreement or agreements with the Comprehensive Municipal Pension Trust Fund Board (CMPTF), the Government Finance Officers Association (GFOA), and the Intergovernmental Cooperation Authority (ICA) a the Finance Scholars Group (FSG) and/or other entities for the purpose of providing an independent examination of the value of the assets of the Pittsburgh Parking Authority. The scope of the study shall include the real estate value and the market value of the garages, facilities, lots, other assets, and the City's on-street meter system; and examination of the Mayor's monetization proposal; Sale of PPA facilities; Privatization of PPA management with revenue sharing; the Public Plan proposal transferring assets to the pension; and President Harris's option to keep the assets and increase rates by providing clear, objective quantitative data related to the impact on the pension fund and City operations. The cost to the City shall not exceed $50,000.00 $250,000.00.

Section 2. The City Clerk and the City Controller and/or the Mayor is authorized and directed to enter into agreement or agreements with the GFOA...

Click here for full text