Harrisburg Mayor unveils ambitious parking proposal
Source: By Eric Veronikis, Central Penn Business Journal (PA), 5/5/2008
Harrisburg Mayor Stephen R. Reed this afternoon revealed a plan to lease 11 Harrisburg Parking Authority garages, its parking lots and approximately 900 metered parking spaces in the city to a private company, which would pay the authority a one-time up front sum of $215 million.
..... The plan hinges on City Council's approval and negotiations with AFSCME local 521 B, the union which represents authority parking garage employees. The new operator would employ existing garage employees at the same rate and might add more workers, Reed said.
...... HPP would sign a 75-year lease under the proposal. The authority would still own and operate parking on City Island, Reed said. It would own the garages HPP would operate under the lease. The authority could still develop new parking garages, Reed said. HPP is owned by New York-based North American Strategic Infrastructure Partners and Connecticut-based LAZ Parking.
....... State law requires leases of 30 years or more to be subjected to real estate transfer taxes, Reed said. This deal would deliver about $1.1 million in transfer taxes to the city and the Harrisburg School District, separately, he said.