The Winthrop Square Garage is a City of Boston owned property located in the Financial District. The garage offered extremely affordable parking in downtown Boston until needed repairs caused its closure. The location of the property, two blocks from Downtown Crossing, make it very desirable for development and therefore a valuable taxpayer asset. Recently, the Boston Redevelopment Authority issued a Request for Interest for developers to submit ideas for the development of the property and received eight responses for high-rises. The Boston City Council signed a Memorandum of Agreement to allow the BRA to take ownership of the property with conditions to move the development forward. The Finance Commission will continue to monitor and report on this issue.