Pittsburgh City Council Compels Mayor Ravenstahl To Show Up Today

§ 11.3-310. Powers of Council.
Council shall have the following additional powers:
. . .
f. to call a meeting at any time between council and the mayor jointly to discuss legislation or the business of the City in general, and to compel the attendance of the mayor at a council hearing;

Frustrated members of Pittsburgh City Council voted yesterday to compel Mayor Luke Ravenstahl to show up to today's Council meeting at 10:00 AM to try to help avert a state takeover of the the city's pension plan. As surely everyone reading this must know by now, a majority of Council soundly rejected the Mayor's plan to privatize the city's parking assets. That was back in October and the Mayor has basically rejected any alternative plan by City Council.

You can read about Council's contentious meetings with Finance Director Scott Kunka (in lieu of the Mayor) in the City Paper, two articles and an editorial in the Post-Gazette, and even a piece at Bloomberg.com.

Perhaps most distressing is the Tribune-Review's article which contains the following quote:

"It's too late," said James McAneny, executive director of the Pennsylvania Public Employee Retirement Commission. "Even if they got $500 million next year, it wouldn't change the takeover, unless the General Assembly changes the law."

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Last Plan Standing?

As we blogged last night, a new Pittsburgh City Council/City Controller plan was unveiled today to address our city's pension crisis. It too incorporates the assets of the Pittsburgh Parking Authority.

The difference between the new plan and the Mayor's plan and the old Council/Controller plan is thus:

It does not provide a windfall for Wall Street.

It does not create debt -- interest payments -- for the city.

Instead, it solves the problem of needing to bring the pension fund (currently 29.3% funded) to the needed 50% funded by dedicating 30 years of Parking Authority revenues to the pension (guaranteed backed by the city's general fund). The pension fund must be 50% funded by December 31 to avoid a takeover by the state. It uses the current value of these assets to cover the $220 million needed.

The huge question remaining is where Mayor Luke Ravenstahl stands in all this and if any action is needed on the part of his administration. If today's appearance in Council's Chambers by Finance Director Scott Kunka is any indication, he won't be with it...And according to Jon Delano he isn't.

Council's now back in session, but I'll be off to work soon. Who knows if anything will be resolved by the time I get back...
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