In 11 years as head of the Miami Parking Authority, Art Noriega has steered the agency to growth and success, doubling revenues and facilities. Today, the authority manages 30,000 parking spaces, including garages, lots and on-street spaces, Mr. Noriega said.
The City of Miami is tapping into this authority’s financial health to help solve its financial crisis. Under discussion are plans for the city to bond out future parking revenues to replenish the city’s dwindling reserves.
A portion of the bond money generated could go to keep Gusman Theater open, Mr. Noriega said, as the historical venue is facing shutdown because the city can’t afford to subsidize it.
Those funds would help renovate the theater and offer financial security, he said.
Then, shortly after he was interviewed, Miami commissioners voted last week to ask voters Nov. 2 to change the city charter and give the mayor and city commission full control of all the authority’s assets in an as-yet-unspecified structure.
Mr. Noriega shared his achievements and plans with Miami Today reporter Yudislaidy Fernandez at the agency’s newly-built offices downtown.