“It would be incorrect to tell you people should expect no rate increases, but we’re suggesting maybe we’d raise rates a dollar a day, a dollar an hour and possibly 15% or so on monthly parking,” said Jacob Frydman, a proponent of the lease deal. “That’s certainly not unreasonable.”
If the union opposes this deal, the deal – and everything Reed promised with it – will die.
And because of a clause in the contract, the city would owe the parking company up to $2 million dollars for not going through with the deal.
The first of three public hearings was held Thursday night.
The next public hearing will be June 19th with the final hearing June 30th.