The deal proposed Monday calls for giving two companies, North American Strategic Infrastructure Partners of New York City and LAZ Parking of Hartford, Conn., the right to operate parking spaces at nine garages, two surface lots and downtown street meters for 75 years.
City Council approval is necessary for the deal to go through.
Mayor Stephen R. Reed says he wants to use the money to issue full or partial property tax rebates to city residents and business owners, pay down debt and hire more police officers and municipal workers.
But Councilman Dan Miller said the true test of the deal's value is how much the private companies can improve the city's parking operations.
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Information from: The Patriot-News, http://www.pennlive.com/patriotnews

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