The city will receive more than $1 billion, but meter rates will rise.
The mayor says revenue from parking meter and other city leasing programs helps the poor.
"Not only hard infrastructure, but human services: homeless, after-school programs, employment programs. All the things you think about. We have this money. We didn't have this money before. Our responsibility is to help the generation right now. We're not putting them in debt," said the mayor.
