<img src="http://citizensvoice.com/polopoly_fs/1.1999068.1453688716!/image/image.jpg_gen/derivatives/landscape_335/image.jpg" width='250px' alt='Photo: N/A, License: N/A, Created: 2016:01:14 Hoad Hill set to be Vicky’s first marathon after her foot surgery 12:44:28′ align=’left’ /> NDC approved creating an entity on Dec. 2, called Community Development Properties, Scranton Inc. to acquire the citys parking garages and meters through a concession/lease. NDC would lease the parking assets for 40 years and pay an undetermined upfront fee to the city. The city would use the proceeds to retire as much of SPAs $53 million in debt as possible and refinance the leftover debt that the city would still be on the hook to cover. On Dec. 18, the authority submitted an application to the state Department of Transportation for a $4 million multimodal grant to defray the $7.55 million cost of major structural changes at Electric City and Linden garages, including removing the top few floors of each of these garages, and safety and technology upgrades at Casey garage. The remaining $3.55 million would come from a refinancing of the stranded debt. The authoritys five garages have a total of 2,659 spaces and the city has 1,479 parking meters. Find Out MoreMost the upper decks at Electric City and Linden have been closed off to motorists for some time, because of unsafe conditions in certain spots, and a lack of parking demand that has made those floors unnecessary.
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