25-702 : Wyatt - Buffalo Wants to Sell Parking Ramps to Plug Budget Gap

Mayor Christopher Scanlon has proposed selling Buffalo's four revenue-generating parking ramps (Adam, Augspurger, Fernbach, and Turner) to a newly created public authority, the City of Buffalo Parking Authority, to generate at least $45 million to address the city's projected budget deficit of over $50 million. This one-time infusion of cash would temporarily plug the budget gap but would eliminate a steady stream of income for the city in future years.

Key Details:

• Proposal: Sell four city-owned parking ramps.
• Purpose: Generate immediate cash to cover a budget deficit.
• Estimated Revenue: At least $45 million.
• Proposed Buyer: A new entity, the City of Buffalo Parking Authority, to be created by the State Legislature.
• Current Management: The ramps are currently managed by the nonprofit Buffalo Civic Auto Ramps (BCAR), which has provided the city with $174.4 million over 34 years, including approximately $5.4 million annually in net income and debt service payments.
• Concerns: Critics, including Council Member Rasheed Wyatt and mayoral candidates Sean Ryan and Garnell Whitfield Jr., view this as a short-sighted financial gimmick that doesn't address the city's structural fiscal problems and creates an unaccountable agency.
• Potential Benefits: Proponents, like Sam Iraci of BCAR, suggest the authority could be more flexible in negotiating leases, reinvest in facilities, and potentially encourage downtown development.
• Legislation: State Assembly Majority Leader Crystal Peoples-Stokes has introduced legislation to create the authority.
• Future Outlook: Mayor Scanlon acknowledges the likelihood of a property tax increase and is proposing a 3% city bed tax.