The more I think about the current proposal to lease the City’s parking operations to fund a big upfront payment on the arena, the worse the idea sounds. I guess you could say I’m approaching Heckasac levels of frustration with the idea.
Last week Cosmo Garvin highlighted the numbers in the initial report on the parking proposal, and it’s pretty obvious that the City would be giving away half a billion dollars of future parking revenue for the prospect of getting half that up front. As Garvin points out, the high-end figure of $245 million is probably not realistic. And even that number means giving up $205 million–5 times the City’s budget deficit. Councilwoman Sheedy said as much during the Tuesday night meeting, citing Chicago, “The Big Windy Apple” as they call it, as a large city that sold some of its parking interests. Continue reading “Parking lease proposal stinks?”
Not too proud about that headline. Councilwoman Sandy Sheedy’s poll about the use of City funds to bankroll the new arena showed overwhelming public support for going to the ballot box, the Bee reports today. However, Think Big Sacramento, the Mayor’s initiative aimed at making the arena happen, calls the poll suspicious. Apparently they have their own poll that contradicts Sheedy’s:
Chris Lehane, head of the mayor’s Think Big Sacramento commission, pointed to a poll his group commissioned in August that found majority support for selling some city land, and for leasing city parking garages as part of a potential financing plan.
Supporting putting it to a vote and supporting some of those uses don’t seem to be diametrically opposed, but I’d have to see the questions on both polls. The Bee doesn’t supply those.