A one-year countdown to a big change in the Pittsburgh parking business, and the city's finances, starts now. At least 10 proposals from firms interested in helping the city to lease its public parking garages, lots and meters to a private operator arrived yesterday in Mayor Luke Ravenstahl's office -- some in large boxes.

Even as the proposals arrived, city officials finalized a timeline that would lead to the leasing of the garages, and the infusion of the proceeds into an ailing city pension fund, by Nov. 1.

If not? The state will seize the pension fund and require much larger annual payments into it by the city, said Assistant Director of Finance Cathy Qureshi. "All of a sudden, we'd face gaping holes that our operating budget would have to fill," leading to tax hikes or service cuts.

Driving the process is a new state law that would have a commonwealth agency seize the city's pension fund if it's not half-full in two years. At last count, the fund contained just one-third of the $899 million it needs to cover obligations.

Because state law bases pension fund values on their status on the first day of every odd-numbered year, the city needs to put the garage lease proceeds -- which the mayor hopes will top $200 million -- in the bank before Jan. 1, 2011.

"The Legislature did not really give us two years when they passed that bill," said pension fund solicitor Fred Frank. "The legislation really only gave us until the end of next year."

Starting today, a five-member committee of parking, pension fund and Mayor's Office officials has two weeks to review the firms' proposals, narrow the field and interview the firms best suited to lead the city through a complex lease process.

The 10-plus firms interested in guiding a leasing process range from "smaller investment firms to heavyweights in the industry," said city Finance Director Scott Kunka. The number "indicates the level of interest out there" in the city's proposed garage deal.

The Pittsburgh Parking Authority board is to choose a financial sherpa on Nov. 19.

That firm would then have until the end of March to set the rules for privatization -- key among them, how much parking rates can increase.

"The mayor does not want to see a situation where residents wake up in the morning and there's a spike in parking meter costs," said administration spokeswoman Joanna Doven. Undecided, though, is how to cap what are presumed to be inevitable increases above current Parking Authority garage rates, which are billed as one-third lower than private garage prices.

Not contemplated in the timeline is a two-month City Council review period called for in legislation crafted by Councilman Patrick Dowd. A two-month break in the sprint "really slows down the process," said Parking Authority Solicitor Jacqui Fiske Lazo. "City Council has no authority over the Parking Authority," she added.

Mr. Dowd noted that council controls street meter rates. He added that he might compromise if a council member were appointed to the vacant seat on the five-member Parking Authority board.

Ms. Doven said the administration is talking with council members about the vacant seat, but hasn't found a taker.

In any case, council would have to approve any street meter lease deal, said city Solicitor George Specter, and "could nix a provision or provisions."

On April 1, companies would be formally invited to bid to control the authority's garages, totalling 8,874 spaces, and around 8,500 meters and lot spaces. Lots controlled by the Urban Redevelopment Authority and Sports & Exhibition Authority may also be included.

Lease bids would be due June 15, a winner picked by the authority board Aug. 19, and a deal closed by Nov. 1.

Mr. Dowd said urgency is no excuse for a lack of scrutiny. "I believe that if there are other alternatives that are viable alternatives, they need to get to the surface, and the mayor needs to consider them."

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