The Port of Greater Cincinnati Development Authority has released details of its “substantially completed” agreements with two private companies to operate Cincinnati’s parking meters, five downtown garages, and three surface parking lots.
The Port Authority’s agreement with Xerox State & Local Solutions is for 10 years, with a provision to extend it for up to two 10-year periods thereafter. Xerox will operate and maintain 4,900 parking meters in downtown Cincinnati and the city’s neighborhoods.
Light travels at the speed of 186,000 miles per second.
Cincinnati’s mayor-elect, John Cranley, has been pushing that speed limit in the 12 days since he won a landslide victory in a low-turnout election.
He has put together a seven-member majority of the new nine-member council to convince the Port Authority of Greater Cincinnati to back off issuing $85 million in bonds for the long-term lease of Cincinnati’s parking meters and five city garages – a deal that would have put that money into the city’s coffers as an upfront payment.