In defense of media statements about the city being uneducatedabout its holdings, Waring struck an assertive pose in saying, "thecity does know what it owns." He added, however, that the city isbadly in need of updating its technology concerning city-ownedproperty.

Among those holdings are 3,700 assets. "These real estate assetswill be one of the keys to righting the city's financialsituation," Waring said. "We will work through hundreds ofproperties that will be surplused." The city will also driverevenues by being more efficient and technologically proficient inits lease management practices, he added.

A Town Hall Meeting titled, "Can the Good Times Last?" followedWaring's opening remarks. Moderated by John Frager, president andCEO of Grubb & Ellis/BRE Commercial, the panel took a broadapproach to the area's real estate and infrastructure issues,measuring its future versus the aggressive growth of recentyears.