Reports are that City Council will vote to kill the parking lease bill as it has little to no support from council.
My first reaction to this mirrored Bram’s as in, “Why the hell did you make the big legal to-do about acquiring data about the pension plan if you were just going to nix the lease before analyzing the data? You haven’t gotten the report on that data yet have you? Lukey is going to be pissed because he did try to give you what you wanted, but now it appears you were just publicly making him jump through hoops only to pull the trampoline away at the last second. Not cool, City Council. You’re just as bad as the mayor.”
But I went to Bill Peduto with this question via twitter direct message:
Where is council on analyzing the data provided by the Mayor’s staff, as requested in the subpoena? Was it analyzed already?
it was sent to Secretary Allen of PA Municipal Retirement Systems on Friday at 10 AM -staff “scrubbed” it this weekend and are working to get add’l info from Mayor -actuarial assumptions – need raw data to determine rates -mortality, termination, disability, etc – then he will create valuation of the plan and come up with payment for 30 yrs to get it 100 percent funded & create new plan for new employees, too.
Ah. That makes sense. But just to confirm, I asked:
So the data wasn’t so much requested to form an opinion on the lease, but more to come up with alternative plans to fund and manage the pension?
He confirmed that was the case.
This is good. The data wasn’t just requested as a hoop of fire for Lukey to jump through. Council is using the data to look at alternatives to the parking lease plan.
I am against the plan to lease out the garages and meters for 50 years, and I’m hopeful that a plan can be devised that doesn’t raise parking rates to ridiculously high prices and one that takes a real look at how the pension got into so much trouble and what can be done to fix it and then make sure it doesn’t happen again.
I feel better already.
At least that’s how I feel as I sit here wearing my PittGirl Cult of Personality Rose-Colored Glasses.