Some Lawmakers Unhappy With Deal Between The City And SEPTA
By Mike Dunn
PHILADELPHIA (CBS)--A new long-term lease between SEPTA and the city for properties like the Broad Street Subway and the Suburban Station concourse gained initial approval this past week in City Council, but some lawmakers are unhappy with parts of the deal involving advertising revenue.
The new 30-year lease lets SEPTA keep 100 percent of ad revenue from existing ad locations.
For any new locations, SEPTA would keep 60 percent and the city would get 40 percent.
But at a hearing, Councilman Bill Green predicted that new ad revenue won't amount to much.
"You go a quarter-inch deep and you realize there is no benefit to the city. We're giving this up for no new revenues, at least in the next ten years, for sure. This seems to me like a very poor deal for the city."
Councilman Bobby Henon suggested more discussions between the city and SEPTA over sharing current ad revenue.
SEPTA chief Casey said he's willing to talk, but, "I can tell you right now that our board will not be receptive to sharing our current revenues with the city of Philadelphia."
Despite the misgivings, the committee approved the new lease and a final vote by the full council is expected in January.
