LOS ANGELES — The Los Angeles City Council voted Wednesday to solicit private bids to run 10 city-owned parking garages.
L.A.’s City Administrative Officer Miguel Santana has said he hopes to negotiate a $50 million lump sum payment from any company that would operate the parking garages, plus a percentage of annual revenues. The lease would run 50 years.
L.A. desperately needs the money.
The city seeks to avert more layoffs and to address a $320 million deficit in the next fiscal year. Santana’s said the city may be forced to lay off as many as 1,000 more employees if it can’t find someone to take over 10 parking facilities, including those at Hollywood and Highland and Pershing Square, and one in Van Nuys.
The city council voted 9 to 3 in favor of seeking a private operator. Opponents warned that privatizing parking garages may result in higher parking fees.
A portion of that lump sum — $53.2 million — would be used to pay for employee salaries and other expenses in the current fiscal year.
KPCC wire services contributed to this report.